Why won't Welcome accept a personal cheque?

[GI Jayne]

Got a personal loan with Welcome Finance. I missed a payment on the first of the month due to money not in account on time. They wrote on the 3rd usual guff please phone us to make arrangements within 7 days so sent a personal cheque for payment. Today they hand delivered a letter to my house returning the cheque saying they are unable to accept a personal cheque and another duplicate letter of the one on the 3rd arrived in the post.

I am going to phone the local office tomorrow, they accepted a personal cheque last year when I was late with a payment. Does anyone know what the problem with accepting a personal cheque is ? I don't want to give a card payment incase they start taking dubious charges.

[Caspar]

Re: Why won't Welcome accept a personal cheque?

I can only guess tht it's somehow connected with the mess they're in as a business. If you don't want to give card details, which is probably a wise move, ask for some giro slips or their bank details so you can make your payment and check that they haven't charged you for another refused payment.

[GI Jayne]

Re: Why won't Welcome accept a personal cheque?

thanks Caspar

I couldn't get the real reason out of them just that they said there had been a change in company policy but couldn't tell me why if there was a change there was nothing in writing sent about it. I went down to the office and paid in cash. They said it would be better if i paid next months in cash which is bunkum as there is a direct debit set up. I asked why they couldn't re-present the DD but they insisted now after a missed payment it has to be card payment or cash.

I asked for a balance of account as it only has a couple of months to go but instead the branch manager printed out a Settlement notice. I got the feeling I could negotiate a settlement as it was near the end if i am having difficulties.

[Amy]

Re: Why won't Welcome accept a personal cheque?

Sounds to me that this is a deliberate act by Welcome to add fees to the account, especially since it's nearly paid in full.