Secured Loan, Welcome Finance

[Ruby]

I recently received a letter from Welcome offering a reduced settlement on my secured loan. They have not given me any figures and are just asking me to call and discuss.

I have been a member of LB long enough to know that either they have probably lost my CCA or it is flawed, however in this case (as its a loan secured on my home) I have adhered to all the repayments of the loan.

Has anyone else received a letter offering them a reduced settlement? I am wondering what figure I should aim for - 50%?, 70% cut?

[meellis]

Re: Secured Loan, Welcome Finance

I would wonder why they have made this offer especially considering what rule changes may or may not be around the corner.

[nemesis45]

Re: Secured Loan, Welcome Finance

I recently received a letter from Welcome offering a reduced settlement on my secured loan. They have not given me any figures and are just asking me to call and discuss.

I have been a member of LB long enough to know that either they have probably lost my CCA or it is flawed, however in this case (as its a loan secured on my home) I have adhered to all the repayments of the loan.

Has anyone else received a letter offering them a reduced settlement? I am wondering what figure I should aim for - 50%?, 70% cut?

Hello Ruby,

Welcome are selling off these accounts regularly, it might be worth sending them a CCA request before considering their " kind offer".
nem

[Ruby]

Re: Secured Loan, Welcome Finance

I did a CCA request (I have done so many in the past number of years I consider myself a bit of a pro).

I have had a response back this morning. The response is one I have never had before from any company!

Thank you for your recent correspondence.

On this occasion we were unable to verify your identity based on the information provided.

In order to progress this query further please contact us on 0330 999 9510 to enable us to go through our standard indentification verification process.

An example of the information we may ask you for would be your previous address history (in some cases up for to 15 years) and confirmation of your date of birth. Please have as much information to hand as possible to ensure that we can process your complaint promptly following your telephone call.

Please find enclosed your payment as at this time we were not able to process your request. Please return your payment with the information we have requested and once this has been received we will action your request.

My first reaction is WTF!!! I really want to keep things to writing only, for obvious reasons. Any thoughts guys? Some tips on how to respond back would be gratefully received.

Gut feeling tells me that they are stalling the inevitable response of not having the paperwork requested ................... :tinysmile_twink_t2:

[Kati]

Re: Secured Loan, Welcome Finance

:bump: for [MENTION=55034]nemesis45[/MENTION] [MENTION=6]Amethyst[/MENTION] xx

[nemesis45]

Re: Secured Loan, Welcome Finance

:bump: for @nemesis45 @Amethyst xx

Hello [MENTION=49370]Kati[/MENTION] I'll take a look nemxx

[nemesis45]

Re: Secured Loan, Welcome Finance

I did a CCA request (I have done so many in the past number of years I consider myself a bit of a pro).

I have had a response back this morning. The response is one I have never had before from any company!

Thank you for your recent correspondence.

On this occasion we were unable to verify your identity based on the information provided.

In order to progress this query further please contact us on 0330 999 9510 to enable us to go through our standard indentification verification process.

An example of the information we may ask you for would be your previous address history (in some cases up for to 15 years) and confirmation of your date of birth. Please have as much information to hand as possible to ensure that we can process your complaint promptly following your telephone call.

Please find enclosed your payment as at this time we were not able to process your request. Please return your payment with the information we have requested and once this has been received we will action your request.

My first reaction is WTF!!! I really want to keep things to writing only, for obvious reasons. Any thoughts guys? Some tips on how to respond back would be gratefully received.

Gut feeling tells me that they are stalling the inevitable response of not having the paperwork requested ................... :tinysmile_twink_t2:

Hello Ruby, responding to an elbow from Kati.

Emm Welcome playing silly buggers again.

As they have written making " discount offers " ( have one debt get another 1/2 price) They clearly know who you are.
From recent information I'm guessing that they can't find or have no paper records for the loan and are looking to you
for information in the hope of finding something which of course is not going to happen.

I would suggest something along the lines of the following.

Addressed too the desk jockey that sent the daft letter.

Sir/madam

I refer to my recent request for a copy of an agreement relevant to a secure loan.

I am rather confused by your rather strange statement that Welcome is unable to reconcile
the details I have provided on date.

It occurs to me that if Welcome write to me offering a discounted settlement it must have in its possession
All relevant documents for this account.

I expect now to receive the requested agreement/contract by return of post or written confirmation that Welcome does not have the documents
in its possession.

Send by signed for post check date of delivery.

nem

- - - Updated - - -

I did a CCA request (I have done so many in the past number of years I consider myself a bit of a pro).

I have had a response back this morning. The response is one I have never had before from any company!

Thank you for your recent correspondence.

On this occasion we were unable to verify your identity based on the information provided.

In order to progress this query further please contact us on 0330 999 9510 to enable us to go through our standard indentification verification process.

An example of the information we may ask you for would be your previous address history (in some cases up for to 15 years) and confirmation of your date of birth. Please have as much information to hand as possible to ensure that we can process your complaint promptly following your telephone call.

Please find enclosed your payment as at this time we were not able to process your request. Please return your payment with the information we have requested and once this has been received we will action your request.

My first reaction is WTF!!! I really want to keep things to writing only, for obvious reasons. Any thoughts guys? Some tips on how to respond back would be gratefully received.

Gut feeling tells me that they are stalling the inevitable response of not having the paperwork requested ................... :tinysmile_twink_t2:

Hello Ruby, responding to an elbow from Kati.

Emm Welcome playing silly buggers again.

As they have written making " discount offers " ( have one debt get another 1/2 price) They clearly know who you are.
From recent information I'm guessing that they can't find or have no paper records for the loan and are looking to you
for information in the hope of finding something which of course is not going to happen.

I would suggest something along the lines of the following.

Addressed too the desk jockey that sent the daft letter.

Sir/madam

I refer to my recent request for a copy of an agreement relevant to a secure loan.

I am rather confused by your rather strange statement that Welcome is unable to reconcile
the details I have provided on date.

It occurs to me that if Welcome write to me offering a discounted settlement it must have in its possession
All relevant documents for this account.

I expect now to receive the requested agreement/contract by return of post or written confirmation that Welcome does not have the documents
in its possession.

Send by signed for post check date of delivery.

nem

[Ruby]

Re: Secured Loan, Welcome Finance

Thanks so much Nem (and Kati :tinysmile_twink_t2 . The games have well and truly began and I am going to have fun. Will keep you all posted xx

- - - Updated - - -

Has anyone else had this experience with Welcome?

[dogtired]

Re: Secured Loan, Welcome Finance

Had exactly the same letter just over a year ago, they clearly know who I am as I keep on getting statements!:duh:
They even admitted that they could not find documentation but then tried with two DCAS !

[Ruby]

Re: Secured Loan, Welcome Finance

Thanks for that DT. DCA's are toothless without relevant documentation (as you know) so I am not bothered with getting threat-o-matics. Are you still in much the same situation with Welcome? Sorry, I have not been a regular on the site recently. My biggest concern is that they are registered on my land registry records which would make it difficult if and when I - or my children (when I eventually kick the bucket!) sell the house.

[dogtired]

Re: Secured Loan, Welcome Finance

Wrote to them with a copy of the letter from DCA saying they were returning the alleged loan "for consideration"
Thats when we got the stupid letter, replied , in writing with copies of statements, much the same as @Nemasis45 but apart from yet another meaningless statement not heard anything else.

Thanks for that DT. DCA's are toothless without relevant documentation (as you know) so I am not bothered with getting threat-o-matics. Are you still in much the same situation with Welcome? Sorry, I have not been a regular on the site recently. My biggest concern is that they are registered on my land registry records which would make it difficult if and when I - or my children (when I eventually kick the bucket!) sell the house.

[Ruby]

Re: Secured Loan, Welcome Finance

Well, I had another stupid response from Welcome today.

Dear Mr and Mrs ****** (full names mentioned in letter)

Thank you for your recent correspondence.

On this occasion again we were unable to verify your identity based on the information provided, could you please state your full name when sending your request.

Or in order to progress this query please contact us on 0333 999 9510 to enable us to go though our standard identification verification process.

An example of the information we may ask you for would be your previous address history (in some cases up to 15 years) and confirmation of your date of birth. Please have as much information to hand as possible to ensure that we can process your complaint promptly following your call.

What kind of drugs are these guys on???

[Bazza]

Re: Secured Loan, Welcome Finance

Well, I had another stupid response from Welcome today.

Dear Mr and Mrs ****** (full names mentioned in letter)

Thank you for your recent correspondence.

On this occasion again we were unable to verify your identity based on the information provided, could you please state your full name when sending your request.

Or in order to progress this query please contact us on 0333 999 9510 to enable us to go though our standard identification verification process.

An example of the information we may ask you for would be your previous address history (in some cases up to 15 years) and confirmation of your date of birth. Please have as much information to hand as possible to ensure that we can process your complaint promptly following your call.

What kind of drugs are these guys on???

Hi Ruby

Does sound like they are trying to stall and fob you off.

I have a similar situation in which they keep texting me on a daily basis with reduced settlement offers.

I eventually called them in which they advised that they were closing their branches at end of month. So I made them an offer in which was declined.

Next day got another text but this time from the manager asking me to discuss further regarding my offer. I replied in writing and requested that all future dealings were to be in writing only.

Still awaiting a reply but text / phone calls have stopped, so I will follow-up again.

What address did you contact ?

Cheers

Bazza

[Ruby]

Re: Secured Loan, Welcome Finance

Its the Ruddington, Nottingham address I have been corresponding with. I would ideally prefer to just make them a 'cheeky' offer and get rid of them for good.

What makes me laugh is how they seem to be so keen that we call them.

[nemesis45]

Re: Secured Loan, Welcome Finance

Its the Ruddington, Nottingham address I have been corresponding with. I would ideally prefer to just make them a 'cheeky' offer and get rid of them for good.

What makes me laugh is how they seem to be so keen that we call them.

Hello Ruby,
Why not send the a copy of one of their statements, state that they should refer to their own records and tell them that any further delays in providing the
documents requested will be reported to the FCA and the ICO

nem