Welcome Financial Services & CFS Secured Loan Advice

[dougie0277]

Hi - Hoping for some advice or steer in the right direction.* I have a secured loan on my property with Welcome Finance.* Loan was around 10k taken out in around 2008, from memory.* I have a balance or around 7k but I stopped paying this approx. 4 years ago.* Debt has been passed to CFS who continue to write to me with just a monthly statement, no fees or interest being added and they refer to my "mortgage arrears"*They have not been chasing the debt.** *I am in the process of selling my property and I am willing to offer settlement to get the charge removed but*some questions I have

1) Is there a way to remove the charge without settlement to them? Court or Land registry application maybe?
2) Is it worth negotiating a reduced settlement?
3) I don't have any paperwork or records regarding the loan - would a SAR be recommended before any offer of settlement or a specific letter

I have tried speaking to coast financial services via target but I cant get through, no email address either


Any advice or recommendations is appreciated - I have never had to do this before so working a bit in the dark regarding next steps.

[dogtired]

Hi - Hoping for some advice or steer in the right direction.* I have a secured loan on my property with Welcome Finance.* Loan was around 10k taken out in around 2008, from memory.* I have a balance or around 7k but I stopped paying this approx. 4 years ago.* Debt has been passed to CFS who continue to write to me with just a monthly statement, no fees or interest being added and they refer to my "mortgage arrears"*They have not been chasing the debt.** *I am in the process of selling my property and I am willing to offer settlement to get the charge removed but*some questions I have

1) Is there a way to remove the charge without settlement to them? Court or Land registry application maybe?
2) Is it worth negotiating a reduced settlement?
3) I don't have any paperwork or records regarding the loan - would a SAR be recommended before any offer of settlement or a specific letter

I have tried speaking to coast financial services via target but I cant get through, no email address either


Any advice or recommendations is appreciated - I have never had to do this before so working a bit in the dark regarding next steps.

I think your first steps could be an SAR ( lots of templates on here) Welcome Finance themselves are in Adminstration.
As I understand this IF they could prove anything Welcome themselves cannot pay what they owe so you would be the bottom of a long list .

[dogtired]

Perhaps loan advice is really what I need now. I need a loan, but I`m not sure where to apply. I started reading some information on the internet, and found the site https://laanius.dk/kreditnu-laan with reviews and descriptions of loan providers. Some of them seem very interesting, as their conditions are rather attractive. Maybe this site will be helpful for someone else.

Sorry wrong site/thread. I suggest you look again elsewhere

[smrutik]

Hi - Hoping for some advice or steer in the right direction.* I have a secured loan on my property with Welcome Finance.* Loan was around 10k taken out in around 2008, from memory.* I have a balance or around 7k but I stopped paying this approx. 4 years ago.* Debt has been passed to CFS who continue to write to me with just a monthly statement, no fees or interest being added and they refer to my "mortgage arrears"*They have not been chasing the debt.** *I am in the process of selling my property and I am willing to offer settlement to get the charge removed but*some questions I have

1) Is there a way to remove the charge without settlement to them? Court or Land registry application maybe?
2) Is it worth negotiating a reduced settlement?
3) I don't have any paperwork or records regarding the loan - would a SAR be recommended before any offer of settlement or a specific letter

I have tried speaking to coast financial services via target but I cant get through, no email address either


Any advice or recommendations is appreciated - I have never had to do this before so working a bit in the dark regarding next steps.

1st try to get that paperwork and records and you can also shift your loan with another company all you have to do is Obtain a consenting letter from the existing bank along with the outstanding loan amount. Provide these documents to the new bank that you wish to transfer the housing loan balance. The new lender will then pay off the balance due to your old lender.

[smrutik]

1st try to get that paperwork and records and you can also shift your loan with another company all you have to do is Obtain a consenting letter from the existing bank along with the outstanding loan amount. Provide these documents to the new bank that you wish to transfer thehousing loan balance. The new lender will then pay off the balance due to your old lender.