Fergal, I love a good argument!!!
Point 1. I dont lend the money therefore I have no control over its costs.
Point 2. I work in the Debt Collection Unit, therefore I only deal with those
people who have problems whether by choice or circumstance.
Point 3. I do not care for those who are 'self,self,self' who beleive that
the whole world is against them.
The question is,
you needed the money,
could not get it elsewhere,
so went to Welcome.
They solved your problem, at a price.
That's business!
PPP is only mis-sold when you are told you are covered for things you are not.
It does not mean that you were told you must have it if you want the loan.
Welcome protect their interests by requesting people take adequate cover.
Remember, this is Non Standard credit, and you are after it because of your 'negative' credit history.
If you have a mortgage,
your bank INSISTS on you having life insurance as cover for their loan,
despite that your house might have equity.
You dont argue this do you?
If you do, no mortgage, no house.
Back to point 2,
over 60% of my 'book' pay me something that is negotiated by both parties to avoid the legal aspect.
This slowly repairs the credit rating, and could earn discounts for loyalty.
A large amount of these payers are in this situation is due to working circumstances, and that they DIDN'T take PPI or other insurances.
The other 40% are the cause of why interest is very high, and the near insistance of PPI.
Lastly,
I will now tell you that personally,
I would not touch WFS with a bargepole,
nor similar lenders.
This is due to me paying my bills on time,
shopping on line for deals and bargains.
I have large debts,
I dont get paid much and have a family of 4.
I drive a bog standard second hand car and get 1 holiday a year, if lucky.
But I survive.
If I can do it witout too much hassle, so can others.
Think, before you do things.
Dont work hard, work smart..........
..there are always other alternatives if you play by the rules.
GOODBYE!! NO FURTHER COMMENTS BY ME................