Welcome Finance secured loan - no original agreement

[adviceonwelcome]

Hello. Having read a few threads on here regarding Welcome Finance I decided to send a CCA request for copies of my original agreement. I have had a letter back stating they are unable to provide this, but list what they say are the details, ie amount of loan, insurance etc.

As they cannot provide a copy of the agreement do I have the right to request it to be written off? Can I reclaim all the money I have paid them?

Many thanks

[miliitant]

Re: Welcome Finance secured loan - no original agreement

when was the secured loan taken out

did you change the loan (re-write) the loan over a longer period at any time

have you received any top ups on the loan

[adviceonwelcome]

Re: Welcome Finance secured loan - no original agreement

Hi,

Taken out in 2007, no changes since then other than they offered to reduce the total loan value - I complained 2 years ago that the balance hadn't reduced as a result of charges etc

Many thanks

[miliitant]

Re: Welcome Finance secured loan - no original agreement

this is important, when in 2007 was the loan taken out (month)

was it prior to april 2007

they offered to reduce the total loan value

did you accept,(important)

[adviceonwelcome]

Re: Welcome Finance secured loan - no original agreement

It doesn't say on the letter they've sent but I just called and it was actually 10th January 2006

[miliitant]

Re: Welcome Finance secured loan - no original agreement

in that case i believe the loan would be unenforceable.
saying that, they can still trash your credit file etc

has welcome defaulted you
has a default been registered with the credit agencies

[adviceonwelcome]

Re: Welcome Finance secured loan - no original agreement

I believe so yes and yes we did accept the reduction

[miliitant]

Re: Welcome Finance secured loan - no original agreement

if you accepted the reduction and their is no agreement then the loan is totally unenforceable

Carey v HSBC

you would just have to wait for the default to fall off your credit file, though they can still demand money, just not through the courts

get a copy of your credit file to see when the default was recorded

you cannot reclaim any payments, that is "unjust enrichment" and they will not write it off until it becomes statute barred

[adviceonwelcome]

Re: Welcome Finance secured loan - no original agreement

What should we do next and how can the charge against the house be removed?

[miliitant]

Re: Welcome Finance secured loan - no original agreement

you will have to wait i believe until the debt becomes statute barred

as its a secured welcome loan, you would have paid mortage indemnity fee, if thats the case then welcome will not do a repo as stated in

welcome v griffiths

but as the agreement is unenforceable until they produce the original agreement, and a copy of the new (varied terms) a repo is not an option anyway

jave you considered doing a deal with welcome to end the agreement

pay xyz for xyz and the agreement ends for example in lite of what you now know

[adviceonwelcome]

Re: Welcome Finance secured loan - no original agreement

Many thanks - could you help with how to phrase this?

[adviceonwelcome]

Re: Welcome Finance secured loan - no original agreement

Many thanks - could you help with how to phrase this?