Welcome finance - struggling & need to take them on!! heeellpppp!!!!

[thestylistics]

Hi guys,

have a secured loan with Welcome finance that's in default. My mortgage is just about under control but am struggling to meet monthly payments to Welcome. Everything about these guys feels wrong. I have an account manager who calls me on my mobile/landline for payments which I'm just about being able to do but I can't manage the full monthly payments & I know these guys are piling up cash on my account.

I'm worried that if I take them on then I'll face losing my home.

My house is in negative equity by £20+ so can someone advise me here? I think that the house is safe as there's not enough cash to cover the first charge, let alone the second.

My partner is ill & I'm the only one working, trying to keep on top of these payments means I can't always afford to pay for prescriptions for her & our standard of living is non existant.

I am contemplating bankruptcy but need to buy some time with welcome to either find fault with the contract/fault with the land registry/fault with account charges

I've got searches with the land registry set up, sdar's etc but could really use some handholding step by step support from you guys if its possible.

Many thanks in advance

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

You are on the right path by doing the land registry search and DSAR. I would avoid speaking to them on the phone for any reason! They are paid to be as intimidating as possible. Have you done an income and expenditure form with them? Why are they not allowing you to pay by direct debit or standing order?

[dogtired]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Subscribe, with intrest. Follow Rubys advice everything in writing do not trust them one bit.

[wales01man]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Forget welcome spend the money on your wifes prescriptions Get her ok then sort the other out
PLEASE

[thestylistics]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Hi peeps,

thanks so much for coming to my help so quickly. I did the land registry search yesterday & unfortunately they are on there as welcome finance. I think the'ye left it a year before applying the charge though - the date seem odd.

I don't know what to do about payments though when I speak to them - shall I tell them I need to submit an I & E pending taking advice from CAB & reduce the payments right down? I don't want to stop paying completely, even if it's a nominal amount for now, it'll look bad if I stop completely.

Next step - sdar :-)

By the way have any of you guys had any joy with section 8 Enterprise Act 2002 re unfair relationships? looking at it last night - v v v interesting

[thestylistics]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Sorry Ruby, was v rude there & totally didn't reply to your question. I don't know why I'm not on DD or SO actually good point. I guess it's because I'm not always able to make the full monthly payment & have had the loan defaulted. I haven't done an I & E yet with them although it has been used as a pay up or else tactic. As well as wanting to see copies of my bank statements for some reason? Last time I spoke to Welcome they were concerned about the way the account was being run, arrears on the account & not keeping up with agreed monthly payments........& that they'd need to see my bank statements if this continued?? Surely anyone in their right mind can see we're having problems, they know about our situation so don't they have a duty of care in how they behave?

I'm going to speak to them for the last time today, tell them I'm taking advice & we need to come up with a proposition to suit. But everything in the future is to be in writing.

Thanks guys

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Think about the amount you can comfortably afford to pay them on a monthly basis and set up a direct debit or standing order to pay that. Don't let them see your bank statements, especially if your account is a day to day running account, it shows too much personal information. I & E should suffice. Most reputable companies (to be the best of my knowledge) do not ask to see bank statements.

YOU TAKE CHARGE OF THE SITUATION - REMEMBER THEY ARE BEGGING YOU FOR MONEY CAUSE THEY ARE BROKE

let us know how you get on with the DSAR......

[Shadowcat]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Have these jokers still got a CCA licence does anyone know.

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Did note on the FSA website today that there have been plenty of complaints about them .........

Anyone know when the FSA are due to come out of hibernation?

[Shadowcat]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

I asked about the licence because I doubt the OFT have got either the teeth or energy to revoke any licences these days. When we see what Swift are getting away with I wondered about the OFT stance on Welcome. What is the point of the OFT if they don't make examples of these type of companies. Warnings like they gave the payday loan companies are worthless, they tend to just fire out warning shots and not follow them up.

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Shadowcat I know where you are coming from and feel the same frustration you do. No wonder this country is in the mess its in. OFT/FSA/FOS - A COMPLETE MESS !!! Do you think any of these organisations read these sites?

[Shadowcat]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

I doubt it. I know a few of us fighting Swift have told the OFT what we think, that they are powerless and we have even asked why they seem to be covering up or allowing things to go on that are very destructive to our economy. They adopt the same approach when you challenge them, they clam up and don't speak to you. Is it any wonder that Swift and Welcome are laughing at us?

[Ruby]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

Every armour has a 'chip' in it. We need to find the chip as a community and crack it - so to speak. The authorities are failing us -we have to find alternative ways to get our point across - short of standing in front of number 10 protesting.

[Shadowcat]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

http://news.sky.com/story/1027494/of...tect-consumers


...and even when they get sent the information (Sparkie has been doing this since 2007!) they don't act. And the point of them is?

Welcome and the rest of them are a corruption on this country, the police don't act on 'civil matters' - not that they are civil matters, it is fraud as far as I'm concerned when Welcome don't even have signed contracts half the time but are still allowed to claim repayments, they are not on the deeds yet call their loans secured. Fraud.

[dogtired]

Re: Welcome finance - struggling & need to take them on!! heeellpppp!!!!

I agree Shadow Cat and Ruby, Welcome seem to have increased actvity recently, just on Legal Beagles alone.
Told me that and unsigned, undated "copy" with old address did not have to have loan number on it, and got two DCAs involved and on the recent letter have Mackenzie Hall collect as address header but the address in Nottingham.
We are also in dispute, now, with Kensington who also seem to "get away" with dubious practices.
They got warned and acually fined not that long ago but still charge high fees and differing intrest rates. Not sure what we can do other than to continue to fight them.:mmph: