Hi! I'm afraid in an act of desperation 7 years ago my husband and I took out a loan over 10 years with welcome finance secured to our property. Having paid £450 per month since I called last Friday for a settlement figure only to discover we still owe £19527, on top of having repaid £22187 already. I'm beyond disbelief and just feel as though it will never end, it must run over the 10 years.and this is including a £6000 rebate from the PPI. My husband and I both signed on separate days for the loan as work commitments prevented us from going together. Neither one of us recall such massive figures being quoted naive - yes I know we should have done the simple maths, we were just so desperate. As this is the situation we are in would it be unreasonable to suggest a drastically reduced settlement figure in full and final settlement? Has anyone had any success with this? Sorry to sound like a sob story, I would just really appreciate any advice or here from anyone with any success in proposing lower settlement figures. Thank you

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Sorry didn't read it properly thanks for your help

thanks for that. I'll get this sorted tonight. What about the dispute part? or am I just making things worse for myself?

Hello again Time limit for the sar has been and gone (11th May), I am now going to chase this but am I able to put the account in dispute until they send the paperwork to me? I also read on a post that we should be asking for an insurance underwriting certificate to look for hidden commission. Is this correct? I haven't paid the direct debit due today and have been called three times already! Any advice much apreciated.

I have looked everywhere and can not find a copy. I know for sure that I was not given a copy as my husband had yet to sign - I'm thinking that perhaps neither of us were given one. I will use the letter above to get a copy - is that right?

Thanks for that. I do remember signing the agreement, my husband signed a couple of days after I did at our local branch, I don't remember him coming home with a copy of it - but I will look this evening through our paperwork.

Many thanks for your responses! I'll try to gather what information I can, but I don't remember leaving the branch with any copies of agreements, but I will look. I apreciated your comments thank you.

Taking a loan with Welcome was the biggest mistake of our lives. Although grateful for the money at the time, unfortunately we are now paying the price, I haven't tried to claim anything nor purposely miss payments (£270) arrears, but life takes it's toll sometimes and my 38 year old husband subsequently had two strokes. We borrowed £15000 and now owe £20k+ our payments are £470 per month, which is basically interest only. I have been verbally abused - having been called a liar and a cheat and to top it of blamed with committing fraud for being 3 days late with a payment, to which I complained to head office. Welcome are bullies who take advantage of ordinary people, and make life that little bit more difficult to cope with, they are economical with the truth and are very good at blaming customers for everything. I dread opening the front door, my account manager has called several times, and despite advising them this month that I can not pay the £25 failed DD fee (I made the monthly payment by debit card) she calls me every single day - again complained to head Office who said the £25 could go on the account although it was in my interest to pay it. Today’s message from my account manager is a typically condescending one - she actually said I had no right to ask head office not to pass me through to my local branch as she was my account manager not them - I thought I had every right! I'm tired of the battle, the accusations and the constant urgent calls, is anyone else being bullied in the same way, or are we failures? That’s how I feel - they don't realise what they are doing to ordinary families.

Debits are an absolute waste of time and effort, I'm tired of the same rude conversations, and the ability to call my husbands mobile even though they confirmed this had been deleated last month. Best of luck with them. We only owe them £400 it's hardly a fortune, but it's a mountain when your trying to climb it.

hello Today (well I think so) is the day they should be coming, the letter says on or just after 24th February. I have spoken to npower many times now so I know that there not coming to cut me off. I have paid a £100 token gesture towards the outstanding bill. What I don't understand is that the three different people I have spoken to have all offered me different amounts to pay to reinstall the dd. £1000+, £875 and today £500. Why do they think it is ok to mess with people so much. If we lived an extravagant lifestyle and were reckless this would be no-ones fault but our own, but the truth of the matter is we live on a shoe string. Our mortgage is fixed our secured loans haven't come down and everything else has gone up. It just seems never ending, I'm so tired of worrying, like everyone else no doubt.

I have a large debt for electricity with npower plus a recent bill making the total £1400. I have tried to play this back by dd but they are wanting £224 per month which is impossible. I received the usual letters, and have always called them but with little success. My last proposal was to pay the latest bill £300 in full bringing the debt down to £1100 and then paying £50 per month towards this, and paying all future bills in full as they arrive. They flatly refused this offer, saying that because I have a large number of failed arrangements, they need at least 75% of the outstanding debt to be able to consider a payment arrangement. Today I have received the letter to say they will be coming to my property on Tuesday will they cut us off on Tuesday or is this some sort of warning visit? Any comment much appreciated.

I had this problem yesterday, I think I spoke to you on my thread. Call Welcome and lodge a complaint, this is what I did. They called me back today and are investigating the threatening behaviour, which included fraud and repossession, she was surprised at the fraud part and said that that was a new one! and couldn't understand why they wouldn't accept next week for payment. It's got to be worth a try.

thank you it does. My Dad has bailed me out and paid it on his credit card today. I tried to explain why I didn't have the money but she said everyone has a story. I know I won't win with this one. It was the threat of being prosecuted for fraud as this was the first payment that upset me the most, they absolutely would not accept next week which I find hard to understand. We are just an average family of 5 trying to get by on one wage, it's not like we go on fantastic holidays or have designer clothes - we don't. Life is pretty tough at times, but it's good to just talk to people, it eases the burden a little doesn't it?

I have a secured loan with Welcome, can you cancel the ppi after you have paid the first instalment if I take out an independent insurance? I am having a complete nightmare with them.

Having the worst day of my life!! Avoid this company like the plague. Just spoken to them again, and have been reduced to tears after been told how incompetent I am, and how great full I should be they would lend me money when no-one else would. How lucky am I!!!

we have a secured loan with Welcome which we took out in December, the first payment was due this month on the 20th. I called the local office because I knew we wouldn't be able to make the full payment and paid £100 which the accepted stating that I would call back by the end of the month to try and pay more or let them know if I had a problem. They called today however saying that if I didn't pay the £370 (balance of the payment) by 5pm they would start legal proceedings, plus I could be accused of fraud as this is the first payment of the loan, when I asked why she said it's like borrowing £400 of a friend and only giving them £100 back - this baffled me too!. I did say I could pay the rest next week but she wasn't having any of it. Obviously I'm worried, this is my home that's on the line, and I've no idea where I stand. I've called the head office but no-one seems to be able to tell you anything at all. Please please please can anyone tell me anything

Please can anyone offer any advice I'm desperate and getting nowhere with welcome. My first payment was due on the 20th of January 2009 I knew I couldn't make the full payment of £470 so I called my local office told them and paid £100 towards the instalment. I did say that I would call before the end of the month and try to pay some more. But today my account manager called and said that because this is the first payment and I have failed to pay it, I could be accused of fraud - how? she said " it's like borrowing £400 of your friend and only paying £100 back? this baffled me too, I have until 5pm to pay the other £370 or she will start processing legal papers. Obviously I'm worried, I don't know where I stand, I've tried my best, I have made a token payment with a view to paying the rest next week. HELP!

Hi doo just sending for my statements today, hopefully they wont be too long. I think the charges will amount to a fair bit,I am currently £180 over my limit at the moment, and its all charges, but I know they have reduced them now, have you had any problems getting the lower charges back?

Hello everyone I've just completed a claim with the Halifax so Capital one are next on my list. Do they hound everyone or is it just me. I was considering looking into what is classed as harassment. They call me every eight days without fail. They never use the same call for both accounts, which is infuriating and can be embarrassing if you have people round. I also think they are very pushy, always asking for large payments, I only owe them £400. Keep you updated good luck everyone.

hi I would have thought that you should be covered under the direct debit guarantee also. Have you found out why the bank kept your card though?. If you have on-line banking it might be worth checking that they haven't put a restriction on your account. We had one put on ours which made it enquiry service only which meant the machine kept our card when we tried to use it. They do this without telling you when they are unhappy with the conduct of your account, ( well they do tell you via post in about 3 days). Hope you get things sorted, I'm sure it will be fine its just the inconvenience of it all isn't it.

I'm sorry but I never got as far as court so I cant really offer any advice, try to start a new thread, an repost the above and someone with good advice will help you.

Hello everyone! Just to update and finish my thread because my money has been credited to my account today. Unfortunately because my account is enquiry only service at the moment I cant get to it for 48 hours! doesn't sound like the Halifax does it? I have opened new account with another bank today, hope this one works out better. Thanks to everyone who helped and good luck to everyone else in the process. Bye.

I think the issue is more the amount the banks are charging. The charges in no way reflect their costs, and inflict undue financial problems upon us. We have all made mistakes, and perhaps lived beyond our means, often through necessity, mainly because most of our money was taken in charges in the first place. good luck.

Still no money yet! 1 week tomorrow since the offer was made.