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Roast chicken
Hi anyone out there who can give me some advice I've got a welcome finance secured loan and since they went bump ive not heard from anyone one not paid anything on it for at least four years can they still chase me for this debt even though I belive I was mis sold this loan
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Re: Roast chicken
Hi Welcome to LB.Originally posted by Roast chicken View Post
Yes Welcome exists only to collect its outstanding debt, your debt is not yet statute barred.r
The alleged mis selling can still be challenged.
Does this account show on Credit Reference Files?
There is a possibility that the debt has already been sold ( this will show on credit files)
Do you know if the debt has defaulted? Welcome has a nasty habit of defaulting immediately before selling debts on, giving the debt purchaser an extended time to pursue payment.
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Re: Roast chicken
Yes on me credit file as a default and it has Cabot in bracketsComment
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Re: Roast chicken
What's the default date?
nemComment
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Re: Roast chicken
The default date is 15 2 15 on credit report but no one been in touch with me regarding debt for at least 3 yrs not paid on it for at least 4 yrs is this any help xComment
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Re: Roast chicken
When does a secured loan become state barred could do with some advice
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15 2 15 on credit reportComment
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Re: Roast chicken
With secured loans you cannot ever 'escape' your debt if it is listed on land registry records. I may be wrong but when ever you sell your house then who ever is listed on land registry records will have to be paid off .......please correct me if I am wrong
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Re: Roast chicken
Mortgages under Seal the Limitation Period is 12 years.
Mortgage Shortfall debts also 12 years but the Council of Mortgage Lenders members will not pursue these after 6 years without contact with the debtor.
The secured loans (not under seal) the LA period is 6 years.
nemComment
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