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  • welcome loans

    Hi I am new to this site and am having a little trouble figuring things out so bare with me please. So thing is I took out a loan with welcome finance and now I cant make the payments on the loan due to being struck off work by doctors I am on minimal benefits now welcome have passed the debt onto some debt agency but because I barely have enough money to support me and my family is there any advice i can use to stop the collectors harassing me? please I really need some advice thank you.:beagle:
    Tags: None

  • #2
    Re: welcome loans

    Prepare an income/expenditure (IE) document there are templates on this site that are excellent for the task. Be totally honest with the figures you put in as they can ask for proof.

    In the first instance write to the original creditor (copy to the DCA) explain your circumstances and ask them to suggest solutions based on your IE statement that they would be happy with until you regain gainful employment.

    Send it registered post if you can afford it, if not then first class

    If the DCA (Debt Collectors) are repeatedly calling you then ask them to remove your number from their systems (they must do this by law) and inform them that you will only communicate with them in writing.



    Follow this request with a letter such as this

    Your Street
    Town
    City
    Postcode


    DATE HERE
    Company Name
    Road
    Town
    City / County
    Postcode

    Re: Harassment by telephone


    ACCOUNT NUMBER: XXXXXXX

    Dear Sirs

    I am writing in relation to the quantity and frequency of telephone calls that I have received from your company, which I deem to be personally harassing.

    I have verbally requested that these stop, but I am still receiving calls. (Delete if necessary)

    I now require all further correspondence from your company to be made in writing only.

    I am of the view that your continued harassment of me by telephone puts you in breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997.

    If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

    Be advised that any further telephone calls from your company will be recorded. (**Even if you don‘t yet have recording equipment!!**)


    Yours faithfully,

    NAME HERE
    Remember, keep your cool at all times, don't be intimidated by a piece of plastic, if you don't like what you're listening to, put the phone down - and remember the most important thing of all is to put and get things in writing at all times.

    Read CBs thread on dealing with DCAs Dealing with DCA's - Legal Beagles Consumer Forum
    Last edited by frisp; 26th November 2010, 09:43:AM.
    Light travels faster than sound. This is why some people appear bright until you hear them speak.

    Nemo me impune lacessit - No one provokes me with impunity. (Motto of the Kings of Scotland)

    Comment


    • #3
      Re: welcome loans

      Hi I also took a loan out with welcome finance for £2000 I had to pay back roughly £4000. I was told I would not be accepted for the loan unless I agreed to ppi so I did. A year later I lost my job because I was made redundant then suffered from depression as I was struggling to support my family. I contacted the ppi company and they told me I did not qualify for any payments in which case I got back in touch with welcome an argument ensued over the telephone and I gave up paying the loan. I had got the loan under £2000 but a year ago I received a letter (which I have lost ) offering me £3000 in a ppi settlement and would leave me owing £1000 that I still feel a grieved to pay as it was explained that if I lost my job through no fault of my own the ppi would cover my loan.
      I took out the loan in 2007 and lost my job the following year just after my son was born.
      Do I have any rights in regards to having this debt written off. Any advice will be greatly received as I wish to get my credit rating back to a healthy on and not the one I have at the moment
      Kind regards Mark Higgins

      Comment


      • #4
        Re: welcome loans

        Originally posted by Ginger9876 View Post
        Hi I also took a loan out with welcome finance for £2000 I had to pay back roughly £4000. I was told I would not be accepted for the loan unless I agreed to ppi so I did. A year later I lost my job because I was made redundant then suffered from depression as I was struggling to support my family. I contacted the ppi company and they told me I did not qualify for any payments in which case I got back in touch with welcome an argument ensued over the telephone and I gave up paying the loan. I had got the loan under £2000 but a year ago I received a letter (which I have lost ) offering me £3000 in a ppi settlement and would leave me owing £1000 that I still feel a grieved to pay as it was explained that if I lost my job through no fault of my own the ppi would cover my loan.
        I took out the loan in 2007 and lost my job the following year just after my son was born.
        Do I have any rights in regards to having this debt written off. Any advice will be greatly received as I wish to get my credit rating back to a healthy on and not the one I have at the moment
        Kind regards Mark Higgins
        Good afternoon, welcome to LB.

        A little confused here, yo say " I had got the under £2000 ". and you were offered £3000 PPI that's a surplus of £1K?
        When was the loan defaulted? When did payments cease?



        nem

        Comment


        • #5
          Re: welcome loans

          Payments ceased in 2008 I got the debt to under £2000 but with interest and letter fees and default charges the debt grew to £4100. They offered £3000 ppi compensation 2015 but I am wondering if I can get the debt written off. If I had gotten a ppi compensation back then it probably would have covered the debt.

          Comment


          • #6
            Re: welcome loans

            Originally posted by Ginger9876 View Post
            Payments ceased in 2008 I got the debt to under £2000 but with interest and letter fees and default charges the debt grew to £4100. They offered £3000 ppi compensation 2015 but I am wondering if I can get the debt written off. If I had gotten a ppi compensation back then it probably would have covered the debt.
            When was the loan defaulted? *default date on credit file*.

            nem

            Did you decline the PPI offer?

            From what you have said so far I don't think it will be written off.

            Comment


            • #7
              Re: welcome loans

              I can not find it on my credit file but I think the default date was in September 2008. No I have not acknowledge any correspondence with any debtors for a while but now my cicumstances have changed and I am getting in touch with all my creditors to sort out my credit rating

              Comment


              • #8
                Re: welcome loans

                Originally posted by Ginger9876 View Post
                I can not find it on my credit file but I think the default date was in September 2008. No I have not acknowledge any correspondence with any debtors for a while but now my cicumstances have changed and I am getting in touch with all my creditors to sort out my credit rating
                Good morning,

                If the default was Sept.08 and no payments and or written acknowledgments have been made in nearly 8 years the debt could be statute barred.
                Unenforceable in court and all that would be needed s a letter stating that.
                It's gone from credit files which indicates the default was more than 6 years ago and is no longer affection your credit "score".

                I take it no party is pursuing the debt? If not you there is no need to do anything unless Welcome decides to sell the debt, even if this happens you need only send a letter at that point.

                I would advise you to carefully check each and every account and where necessary send a request for a copy of each credit agreement and as with the loan if the debt is not on credit files a debt Could be statute barred.

                nem

                Comment


                • #9
                  Re: welcome loans

                  Thank you Nem for all your advice. Is there a list of all the credit agencies on Google. When a debt I statute barred does this leave a black mark on your credit file and if so can I still arrange to clear the debt. Yours thankfully Mark

                  Comment


                  • #10
                    Re: welcome loans

                    Originally posted by Ginger9876 View Post
                    Thank you Nem for all your advice. Is there a list of all the credit agencies on Google. When a debt I statute barred does this leave a black mark on your credit file and if so can I still arrange to clear the debt. Yours thankfully Mark
                    Experian, EQUIFAX, CAL CREDIT are the main agencies.

                    Statute Barred debts only stay on credit files until the 6 year " life " has expired when they are removed like any other default entry.

                    nem

                    - - - Updated - - -

                    Originally posted by Ginger9876 View Post
                    Thank you Nem for all your advice. Is there a list of all the credit agencies on Google. When a debt I statute barred does this leave a black mark on your credit file and if so can I still arrange to clear the debt. Yours thankfully Mark
                    Experian, EQUIFAX, CAL CREDIT are the main agencies.

                    Statute Barred debts only stay on credit files until the 6 year " life " has expired when they are removed like any other default entry.

                    nem

                    - - - Updated - - -

                    Originally posted by Ginger9876 View Post
                    Thank you Nem for all your advice. Is there a list of all the credit agencies on Google. When a debt I statute barred does this leave a black mark on your credit file and if so can I still arrange to clear the debt. Yours thankfully Mark
                    Experian, EQUIFAX, CAL CREDIT are the main agencies.

                    Statute Barred debts only stay on credit files until the 6 year " life " has expired when they are removed like any other default entry.

                    nem

                    Comment


                    • #11
                      Re: welcome loans

                      I had got the loan under £2000 but a year ago I received a letter (which I have lost ) offering me £3000 in a ppi settlement and would leave me owing £1000
                      Did you put in a PPI complaint or did this offer come out of the blue?

                      If it came out of the blue, did you ever talk to them about it?

                      Why didn't you accept the offer?

                      Comment


                      • #12
                        Re: welcome loans

                        Hi Nem thank you for your advice I will get in touch with them all and check. Would that mean I don't have to worry about it anymore?

                        Comment


                        • #13
                          Re: welcome loans

                          Hi debt camel the offer came out of the blue and at the time I was not in a position to accept the offer as I had no funds to make a payment to the balance that would be left over

                          Comment

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