Welcome Finance

[noodles2000]

Hi

I have had a welcome finance loan for about 8 years and I have not been able to make the payments for the last 10 months. They have been chasing me to set up a re payment plan with them but I am reluctant to do so as I have heard they are in financial difficulties. How do i stand with the loan, do I have to repay them. I am sure they will also owe me for PPI? Can someone please help me. Thank you.

[dogtired]

Re: Welcome Finance

Is it possible for you to post up a copy of your agreement? ( Remove or blank out your personal details) for the team to look at?
No expert by any means, having my own issues with this shower.
Yes they are, in effect, " no longer trading" but seem to have a seperate unit within the FSCS, who deal with PPI claims pror to 2004 ( I think).
Post up what you have and hopefully someone with more knowledge can take a look.

[Ruby]

Re: Welcome Finance

Is this loan secured on your house? Although Welcome are no longer lending to new customers they are still 'alive' but just collecting on existing loans, in much the same way as NRAM. I would chase PPI payments asap. Just keep your wits about you as they are devious.

[Bazza]

Re: Welcome Finance

Is this loan secured on your house? Although Welcome are no longer lending to new customers they are still 'alive' but just collecting on existing loans, in much the same way as NRAM. I would chase PPI payments asap. Just keep your wits about you as they are devious.

As Ruby says be careful with this lot as I am currently having issues with them on a ppi complaint. Was the loan sold directly by Welcome or was there a broker involved ?