Welcome Finance Notice sum of arrears at zero?

[tonyjaybee1982]

Hi guys,

I wonder if anyone can help? I received a letter today stating my account currently sits at

Balance Outstanding £0.00
Default Sums £0.00
Default Sums Interest £0.00
Total Arrears £0.00

It then states my account has expired its original term under my agreement. The follows up with

Past Six months transactions

Opening Balance £5153.84
Closing Balance £5153.84


I know which one it should be, however the 5153 are all charges, so does the above mean i no longer owe them money? Please help?

[dogtired]

Re: Welcome Finance Notice sum of arrears at zero?

Intresting, hope you can get an answer, our last "statement" said the same thing, however Welcome have had, to date two DCA chasing an alleged shortfall, not paid them any thing for nearly six years!

[dogtired]

Re: Welcome Finance Notice sum of arrears at zero?

Bump for op please.

[seduraed]

Re: Welcome Finance Notice sum of arrears at zero?

This is a bit of welcome accounting if i recall correctly this means that the account has been defaulted and written off. So the account now stands as a liability . It will be passsed to internal collections and then sold off . You might be able to dispute some of the charges and come to a deal . If you have a proper branch near you then the staff used to have some negociating power . If you are dealing with head office,I fear that it is only script reader you are dealing with. According to welcome you still owe the money but anything they collect now is pure profit.

[tonyjaybee1982]

Re: Welcome Finance Notice sum of arrears at zero?

Hi all, thank you for your replies. I haven't paid anything for years. The original debt was paid off, everything now "owed" is all interest charges, because i refused to pay any more due to the huge amount of charges added each month. Originally it was PPI which i never asked for, it did get really confusing, however my main argument was i had paid off the original loan and the same amount again. I am hoping this is the end.

[seduraed]

Re: Welcome Finance Notice sum of arrears at zero?

that would be chase fees and phone call fees. Your should be able to get the phone fees re escinded . The correct charge was one per month if the client had promised a payement on a date and then hD TO BE RUNG UP AND REMINDED .

[onlyicanchangethings]

Re: Welcome Finance Notice sum of arrears at zero?

evening everyone.

I am completely new to this forum stuff so I am going to need a guiding hand. I currently have a secured loan with welcome finance originally it was progressive finance but I had a top up in 2007 of a further 5k which took my loan to £10653. I have been paying on the agreed time and agreed amount which was £235 per month. up until 8 months ago where my salary to a massive hit. I called welcome to notify them of my circumstances and they agreed to drop my payments for 3 months to £100 then they would contact me to see if my circumstances have changed which they haven't. then the nuisance phone calls started and have continued to do so at least 4 phone calls a day. up till 6 weeks ago they were taking £25 per week dd then they have suddenly stopped collecting money and don't stop ringing. I don't want to answer as I know they are going to start putting pressure on me I really don't know what to do. I checked my credit report and the balance on my account is £16780 it don't seem to come down I noticed on my annual statement that there is a thing called capitalization on there which funnily enough is more than my monthly payments which has arrowsed my concern its like this is never going to end. someone please help

kindest regards

please excuse my spelling