Welcome secured loan-advice please!

[Kafka]

Re: Welcome secured loan-advice please!

Lisa
Bear in mind for future reference that Welcome have a habit of adding bogus 'charges' onto accounts at £100s at a time. These have no relationship to any agreement and are not specified. I think the reason they rarely send you statements is because they do this in the hope that you won't realise why the account still hasn't been paid off when you thought it should have been.

Additionally, they are probably adding penalty charges and admin charges on for letters and phone calls.

It may be helpful if you ask them for a statement at some point so you can check these out. I had all of this and just faced them off. They gave up and removed the default they had places. This is a firm that doesn't like going to court despite their threats.

[seduraed]

Re: Welcome secured loan-advice please!

I used to work for welcome before the financial cruisis and they went through a phase of taking people to court and then recovering less than the costs soit was officially stopped. The welcome paperwork and admin is apppalling there were at least two incompatiblearchive systems , both of which needed to looked up and if my branch was anything to by cupbords full of old agreement that had not been sent for archiving and were later destroyed . I also understand there was a fire at the archiving company . A great many records were mis filed never too be seen again .

[dogtired]

Re: Welcome secured loan-advice please!

No supprise there then!

[Lisa1968]

Re: Welcome secured loan-advice please!

The actual amount we had on credit was just over 28k. Think we're going to stick to our guns and just keep offering the £200 a month-keep trying to tell them that,as I'm self employed,my earnings are never the same every month-they can fluctuate by as much as £400 a month-but £200 is an amount we can afford at the moment.Not going to be bullied by them!

[Ruby]

Re: Welcome secured loan-advice please!

Lisa, it may also be a very good idea to do a S.A.R. (subject access request), taking into account seduraed's post. What are they covering up? What information do they have on your account, if any!

[dogtired]

Re: Welcome secured loan-advice please!

I did mine four years ago, all that came back was for another address and loan number, so far they have failed to "prove" anything and CAB have said that "both" are "irretrievably unenforceable".
Has not stopped them passing it on to two different DCA and threatening all sorts but taking the advice here to stay strong!

[Kafka]

Re: Welcome secured loan-advice please!

Send Welcome a SAR and watch 'em run for cover.
eep:

[gravytrain]

Re: Welcome secured loan-advice please!

The actual amount we had on credit was just over 28k. Think we're going to stick to our guns and just keep offering the £200 a month-keep trying to tell them that,as I'm self employed,my earnings are never the same every month-they can fluctuate by as much as £400 a month-but £200 is an amount we can afford at the moment.Not going to be bullied by them!

Was this the amount you took away with you, or was this inclusive of their fees and charges ?