Re: Welcome Finance

[Brian5]

Hi,

Anyone been paid out as yet via a claim through the FOS?

Mine is still ongoing and Welcome still have not settled and its been weeks past the FOS deadline.

Any lastest gossip on Welcome that I've missed or is there a reason they are not paying out?

Regards

[LuggerBugs]

Re: Welcome Finance

Surprised at that, cos I got an offer (which I rejected) very soon after sending my second letter to them.

Once the FOS gets on the case, they reckon Welcome will pay out within 8 weeks of you accepting their offer.

However. Cattles have a deadline of 23rd October, by which time they need to have accounts all done and dusted, and I think I'm right in saying will need to have secured additional borrowing. Which I just don't think is going to be realistic, and so they will be delisted.

So, what happens then? Will Cattles/Welcome Finance actually have any cash lying around to pay out on the flood of PPI claims that they have been hit with? I'm thinking not.

In fact, I cannot see any future for them at all. And as for their accounts if they go completely under, you need to ask, who in their right mind will buy them? They are toxic to the point where it is doubtful there will be any possibility of breaking even, unless somebody pays maybe a penny in the pound for them. Even then... hmmmmm.

[Brian5]

Re: Welcome Finance

Ummmm so could that be the reason for the delay tactics.

[LuggerBugs]

Re: Welcome Finance

Almost certainly. Even the Cattles forum, whose members not so long ago were ever optimistic of getting some sort of return back on their investments, seem resigned to their fate. Apart from a few, and I suspect those are the members who get their hot tips from the fairies at the bottom of the garden.

[Brian5]

Re: Welcome Finance

Just called them and they are looking at my complaint, so fingers crossed.

[LuggerBugs]

Re: Welcome Finance

You mean somebody actually answered the phone? Blimey.

[Brian5]

Re: Welcome Finance

LOL