I'm curious about the Target and Coast involvements especially where Target are FCA approved and Coast are not BUT all communications are from Coast but it is Target staff writing and signing the letters. If 'Coast' write to you agreeing to this that and the other then my understanding is that they are NOT authorised to do that as the loan/mortgage, etc is a regulated product. No? What is your opinion on the Coast/Target scenario?

Coast are a con. Beware!! CFS - Coast Finance Solutions are a company that is setup in Luxembourg and they do not have FCA authorisation unlike WFS - Welcome Finance Solutions who (for their faults!) at least did have FCA approvals. Due to this they have got Target Servicing Ltd to 'manage' the account on their behalf. Target DO have FCA permissions...to a certain extent. All letters that you receive will be from Coast BUT 'administered' by Target. When you call the telephone number you are talking to Target, not coast. Target say that they have a SLA - Service Level Agreement in which they are authorised to perform certain functions without consulting Coast ie agree payment arrangements. Personally, I have sent a complaint to the FCA and FoS - Financial Ombudsman Service. The FCA won't update you on the complaint which is why you also need to copy it to the FoS. However, you can only send it to the FoS after you have got a final written response from Coast/Target (OR your complaint is over 8 weeks old) about your complaint. I would suggest asking/complaining to Coast/Target that payment arrangements are being made by Coast (because they are on Coast headed paper) BUT Coast cannot make such agreements as your loan/mortgage is a "regulated product". The way in which Coast/Target are trying to get around this issue of FCA regulation is by allowing Coast to "utilise (Target) our FCA approvals...". I am certain that is now allowed as it'll open a Pandora's box for anyone else to do the same!! Therefore, write to Coast/Target about the above and more if you have it....then get a final written responce out of them ....then complain to the FCA AND FoS. Phew... Anyhow...I would be pleased to receive an update from yourself and anyone else who is having issues with Coast/Target. Cheers.

(133540 & 1682540)- the first co. no. is for Welcome which states (on companies house) that it is still 'active' - it may not offer any new loans but it is still trading. The second no. does not exist and when i look for Progressive Loans on Companies hse it says it does not exist. Anyhow, anyone out there with any more info. on Welcome Finance ???

but they are still trading. They may not be issuing any new loans but I checked on Companies house the other day and they are still up and running.

...just checked and I did a Land Registry check in 2015 and it was still there. No reason why it should be gone by now if it was still there in June 2015 ?!

ooooo I don't know to be honest. I'll have to pay my £3.00 and check. Cheers!! What if it is still there? You said "they had to" - who directed them to remove the charges?

It's been frozen for years and we are only paying £10 per month on a £12k debt it is still secured but (luckily) we have severe negative equity as it was one of Northern Rock's fabulous 125% mortgages and the price of the property is no where near what is owed even given for inflation and (any) house price increases.

it would appear that something is up at Welcome Finance I received a call the other day saying that they are willing to accept £1000 as settlement of my £12k loan which went into default in 2008. It maybe a revelation that since I am only paying £10 a month they realise that it may never get fully paid off especially since we are also in negative equity in regards to the house. BUT I think there is maybe something else happening but would ask members of this forum, etc to get digging and maybe see if Welcome are closing down, etc.