Welcome Finance Help

[Erik68]

Hi,

This is a bit complicated, but bear with me.
I took out a loan for £2000 with Welcome Finance in 2008. To start with paid on time before running into difficulties and doing the most idiotic thing you could possibly do; hide my head in the sand. Long story short, I didn't pay for nearly 10 months, which meant that the penalties, interest and so on sky rocketed to around £5800!

I have however being paying £225 a month for the last year or so and increased the amount to £300 which is my current limit. The problem is this; I have asked them several times (verbally over the phone) to send me a full break down of the outstanding amount without luck. First I was told that they could possibly freeze the interest on the missed payments in order for me to pay off the loan faster. A week later a different person told me that could never happen.

Every single time I ask for some clarification of what the pay off period will be, I get a casual, "I'll get back to you", or "It's not company policy to do that" response. No luck so far.

Some help please?

[TUTTSI]

Re: Welcome Finance Help

Hi and welcome to Legal Beagles

I am sure someone with expert knowledge of Welcome will give you more help but in the meantime keep everything in writing as this it what happens on the phone.

Tuttsi

Hi,

This is a bit complicated, but bear with me.
I took out a loan for £2000 with Welcome Finance in 2008. To start with paid on time before running into difficulties and doing the most idiotic thing you could possibly do; hide my head in the sand. Long story short, I didn't pay for nearly 10 months, which meant that the penalties, interest and so on sky rocketed to around £5800!

I have however being paying £225 a month for the last year or so and increased the amount to £300 which is my current limit. The problem is this; I have asked them several times (verbally over the phone) to send me a full break down of the outstanding amount without luck. First I was told that they could possibly freeze the interest on the missed payments in order for me to pay off the loan faster. A week later a different person told me that could never happen.

Every single time I ask for some clarification of what the pay off period will be, I get a casual, "I'll get back to you", or "It's not company policy to do that" response. No luck so far.

Some help please?

[calamity jane]

Re: Welcome Finance Help

I've just read your original thread from August last year.

http://www.legalbeagles.info/forums/...983#post123983

Did you serve them with a Subject Access as advised by Cetelco in your original thread?

Also, from October 2008, an amendment to the 2006 CCA stated that the creditors under a Regulated Agreement shall provide yearly statements.

http://www.legalbeagles.info/forums/...ad.php?t=11670

This means that, depending on which month the agreement was set up,you should have received at least one statement from them.

Is it possible for you to upload the agreement (deleting all personal information first) so it can be checked?


CJ