Welcome Finance- secured loan issues

[Ruby]

Re: Welcome Finance- secured loan issues

DT they are messing with your head!! They don't have a pot to p**s in but don't want to tell you that.

[dogtired]

Re: Welcome Finance- secured loan issues

Ruby, I know that! My heads messy anyway!

[Ruby]

Re: Welcome Finance- secured loan issues

Lol! Happy new year to you my dear friend DT.

[dogtired]

Re: Welcome Finance- secured loan issues

And to you and yours Ruby, let this be the year we are finally rid of themxx

[sarah35]

Re: Welcome Finance- secured loan issues

HI All im a new member, i joined after seeing all the notes posted about Welcome Finance. I really hope i can get some advise..its a bit long (Sorry)
Its actually about my car finance, i purchased a car in 2005/6 from ACF (welcome finance) my payments being £334 Month for 4 years.
in 2007 i fell into financial difficulty only for a few month until I got another job, well this prompted me to look at my outgoings, I could see I was paying PPI and Gap insurance on the car (not requested by me at time of purchase I must add), I called welcome and told them my situation and I wanted the gap payment and PPI removed so I could reduce my outgoings without falling behind. They advised this was fine and just to come into the office to sign document to that effect. This I done, the young man in the office was very friendly gave me one A4 piece of paper with sign and date etc etc and told me my payments had been reduced to £150.34p as you can imagine I was over the moon. So in 2009/2010 I took out all paper work as I knew the finance was due to end and wanted to check.. There I found Welcome finance had re-financed my car for a further 8 years and £5000.00 interest. I just burst into tears. I called them for an explanation there they told me I could not remove gap insurance and ppi unless I refinanced this is was NOT told at the time. I am now in a position that I want to pay the car off and on my credit file it says I still owe £5000.00 so I called for a settlement figure and they gave me £5300.00?? They said my balance was £6400 , These figures don’t add up..thanks to the information iv seen so far im requesting a statement and a print out of all screen shot conversations etc etc they have. Is there anything else I should be doing? PS they refused to pay PPI back last year as acf is the company I purchased the car from and they say they are not responsible for the mis-sell!

Thanks
Sarah

[dogtired]

Re: Welcome Finance- secured loan issues

Have you done a Subject Data Access Request (SDAR) as you can see from above posts Welcome are slippery customers at the best of times.
You are not alone and I hope some one will be along to give you further advice/

[sarah35]

Re: Welcome Finance- secured loan issues

Im am doing this today,they have advised they have 40 days in which to provide the information?. They also advised it would be best i paid them off the settlement figure and then claimed any monies owed back. This will NOT be happening. I am upto date with all payments therefor am under no pressure make additional payments.

[dogtired]

Re: Welcome Finance- secured loan issues

Good for you, check it carefully and make sure it ties in with any existing documents.
When I did mine they did not match with any of the documents I have and they have still been unable to provide this after four years.
You do know dont you that they are only trying to collect and depending on when your loan was taken out any PPI cliams are being dealt with by the FSCS or Welcome themselves but what they are trying to do is take this off any alleged balance and in our case try and get you to sign up for a "new" loan without PPI!
That did not happen,!
Keep in touch and dont let them bully you, everything in writing keep records and send by registered post (all learnt from LB)

[sarah35]

Re: Welcome Finance- secured loan issues

Thank you so much for your advice, I have sent the letter and cheque registered delivery today. I have seen many stories regarding welcome going into administration?yet the guys in the office im dealing with say its just the debts being sold,??? but their office is closing down march time. Will we be having this battle with a new company? I just want to pay this debt off, and the amount they have on their system is way out to what is shown on my credit reports.

[dogtired]

Re: Welcome Finance- secured loan issues

Have you posted? if not send a postal order instead, do not sign it use a computer font.

[Ruby]

Re: Welcome Finance- secured loan issues

Good luck Sarah and as Dogtired said keep in touch and let us know how you get on. Good idea about postal order Don't let them see your signature .

[sarah35]

Re: Welcome Finance- secured loan issues

oh dear, i signed the cheque and letter?? and posted it yesterday, Thanks for the advise...lets just see what happens. I will keep you posted. Thanks

[dogtired]

Re: Welcome Finance- secured loan issues

dont worry, I did with the first CCA! it was advice passed onto me from the site, apprently its been known for some companys to copy a signiture.

[alan tittensor]

Re: Welcome Finance- secured loan issues

HI All,

Welcome Finance, well thought it was just me!!!!!!! IM new on this.
Took out a loan Nov 2008 @ 82 months, contract says after half of the term (would be April 2012 - 9 months ago) has elapsed settlement figure would be 10169.26 theyve given me a settlement figure today of 10043.56 surely this should be far less than 10k being 9 months after half of the term (10169.26)

Any suggestions/ideas/help please. Im not in arrears apart from this months being overdue two days.

[dogtired]

Re: Welcome Finance- secured loan issues

Well, as you can see they are now not leanding any more.
You could try the SDAR it is £10 and should be everything they have regarding your account, including all the extras they put on.
Send it with a postal order and recorded post.
They have, I think thirty days to respond.
Sometime in the last year they seem to have "lost" details of accounts and another poster has said they had two seperate systems and lose data all the same.
Dont think I have heard the last from them but stay strong every thing in writing!:beagle: