Help get Welcome out of my life!!!!

[jules64]

Hi all, just joined this site hoping I can get some advice regarding my WF loan. I have attached a copy of the signed agreement & also the Medicare policy which I was unaware I had. This loan reached the end of its term last year however due to having 3 or 4 months arrears payments on the account they told me I still owed them nearly £3k!!! I have been paying the £100 per month of this balance but it doesn't seem to be coming down as they are still charging me interest plus they are phoning me constantly and sending me letters for which they are adding costs onto my account. Any advice would be greatly appreciated.

[Amethyst]

Re: Help get Welcome out of my life!!!!

First thing you need to do is ask them for a statement of the account listing all transactions on the account since it's inception -that will list all charges/phone call charges/interest etc added to the account as well as the payments you have made.... you will have to bug hell out of them to get it though - so I would also send a Subject Access Request under the Data Protection Act for all information they hold on you - this will cost you £10 but should give you everything you need to sort out what's what.

[jules64]

Re: Help get Welcome out of my life!!!!

Thanks, I will send a SAR request and see what comes back.

[mr.ton]

Re: Help get Welcome out of my life!!!!

You are the boss of them in terms of what you pay not the other way round.
If you pay a £1 per month then thats what they must accept in a like it or lump it sort of way.
If this loan is paid off then the rest is just extortion on their part and you need to report them to all the authorities.
Refuse to answer security questions if they phone you as well - everything in writing only.

[seduraed]

Re: Help get Welcome out of my life!!!!

Remind them of their own policy , two messages per day and a reasonable number of attempts to contact. No contacts at your place of work .
Get the statements and them mke a sensible offer on a monthly basis . Try towards the end of the month as bonuses are paid on cash collected at the end of a month .
When I worked or welcome I was told off the record that if a customer missed two paments then the interest and charges meant that they could never clear the debt without a rewrite or an interest freeze.
Check the charges , Welcome used to have a bad habit of charging £10 each time they rung up to £30 per month £10 per letter and sundry charges or bounced DD's etc.

If you don't lke DD's ask either for a standing order mandate or for one of the post office payment cards . They dont like these but they were available.

Try for an interest rate freeze. This should be possible but they will want to see an income and expenditure form . Post it here first with personal details removed and people will be able to comment .

[mr.ton]

Re: Help get Welcome out of my life!!!!

but they will want to see an income and expenditure form

They don't have the legal authority to see one of those only a court does.

[CleverClogs]

Re: Help get Welcome out of my life!!!!

Their charges make no sense whatever, nor does there seem any sense in having taken out a three year insurance policy to cover one for a five year loan.

Why was the loan taken out and, if it was for a motor car, do you still have that jalopy?

[jules64]

Re: Help get Welcome out of my life!!!!

Hi All, thanks for your advise.
I am currently paying them £100 per month but they have told me unless I pay the full repayment amount of £180 they will charge me more interest. When the loan should have matured last October, I had arrears of £897 but since then it has increased to over £2000 even though I have been maintaining the £100 payments. I have sent them an SAR which they should have received yesterday (it was sent recorded delivery) but they in the meantime have sent me an income & expenditure form which I don't think I will be returning to them. I am going to keep paying them the £100 per month, just to keep myself right, but I will hopefully have no further contact with them until I receive the SAR details.

[mr.ton]

Re: Help get Welcome out of my life!!!!

Sounds to me like you are being taken for a right mug by these clowns & they see you as a cash cow. They say "jump" you say "how high". £100 per month is way too much. If you're happy with that amount then fine but personally they'd be lucky to get £1 per month off me.
At end of the day you are in charge of them not the other way round. Their charges have no legality whatsoever. If they keep harassing you then report them to the authorities.

[Guest]

Re: Help get Welcome out of my life!!!!

HI

THe agreement figures check out OK unfortunately.
Have they ever sent you any notices of arrears or a default notice.

Peter

[jules64]

Re: Help get Welcome out of my life!!!!

Yes Peter they have sent me, in the past, both notice of arrears and a default notice. Am I stuck with them?!!! What about the Medicare which was only valid for 3 years and not the full 5 year term of the loan

[seduraed]

Re: Help get Welcome out of my life!!!!

all welcome default notices are autoomatically printed and sent by second class post (it changed from first class while i was workingfor them as theyare too tight to pay for first class.

[Guest]

Re: Help get Welcome out of my life!!!!

We really need to see details of what you have paid and what they say you owe.

Also the dates of the respective notices and details of default interst charges and sums.
Sorry but otherwise it is just guess work.
I would deffinately try and reclaim the PPI but that is not my area perhaps Turboman will assist.
Peter

[dogtired]

Re: Help get Welcome out of my life!!!!

Good luck, still got an ongoing complaint with them with the FOS, into its third year next month:tinysmile_cry_t:

[CleverClogs]

Re: Help get Welcome out of my life!!!!

Good luck, still got an ongoing complaint with them with the FOS, into its third year next month:tinysmile_cry_t:

That's a long time, even by the lamentable standards of the Fundamentally Ornamental Service.