Hi Jimjo, I know how you feel as have had mixed messages from Welcome regarding settlement figures. All I can say is that in my situation if they don't accept the settlement and release the charge on my house then I will go bankrupt and they will get absolutely nothing. I have spoken to my solicitor who is dealing with my house sale and he thinks it would be absolutely crazy for them not to take up my offer, knowing that the alternative is £0 instead of over £10K. Plus the fact that their parent company is in serious financial trouble. However I would say to you that unless you are in a position that if they do not accept a reduced settlement it would mean you going bankrupt or doing a debt relief order, then there is no advantage to them in accepting your offer they may as well just carry on pursuing you. I would also look at the thread response below from Edinburgh 7 as he has had some joy doing this. On a final note I am in the process of trying to get my settlement figure worked out correctly in acccordence with the consumer credit act relating to settlement figures as I believe Welcome may be trying to pull a fast one with many of its customers. Will keep the forum up to date. Good luck.

Thanks very much for the info really appreciated and gives me some hope with these clowns!

Hi Edinburgh 7, Thanks for the reply, do you mind me asking did Welcome release the charge with out any payment and then turn it in to an unsecured loan? As I was led to believe that they could stop the sale of the property? Or do they have no choice but to release the charge? Cheers

Hi Crocdoc, Thanks for the reply, the property has not gone yet and will not be able to go unless they release their charge on the property which is on the land registry as I have checked. The girl was adamant that they would not accept this as it is now not their policy to accept shortfalls? Which I think is absolutely bonkers. I have offered them over 50% of their over inflated balance, which still gives them a very healthy profit over all. These guys are a law unto themselves and I am seriously thinking about challenging their settlement. The only prob is it costs money to do this!!! Thanks again for your help.

Hi Guys, I wonder if someone can help me please? Recently lost my job/business and have now decided to sell my house and get a fresh start. Unfortunately I have a couple of secured loans with Guess who? First Plus (2nd charge) and Welcome Finance as a (3rd Charge) which I took out some time a go for my business. I have now sold my house but unfortunately there is a shortfall owing to Welcome Finance and I have prepared a letter to send offering them a full and final settlement which I believe is totally fair. This is based on the fact that in early 2005 I borrowed £22k and as of their recent so called settlement figure I still owe £21k even though I have paid them back more than £21k since 2006. The strange thing is that I believe their figure is wrong as in mid 2006, 17 months after I took out the loan I asked for an early settlement and they came back with an initial figure owing of £56k - £29K interest reversal and minus £5k for payments made, this left a balance of approx £22k which I can partly understand. However after a further 5 years and paying an additional £16k (total £21K) back. their latest settlement figure shows still £21k approx???? Is it me or am I going mad!!! I have spoken to a very unhelpfull lady who said that they are not accepting short settlements, however she was not in a position I believe to say yes or no anyway. If they do not accept this it means I will not be able to sell my house and will have to hand back the keys to the mortgage company and then proabably bankruptcy. I have explained to Welcome that if they do not accept my offer they wil end up getting nothing as a quick sale by the mortgage company would not get then anywhere near the sale I have accepted leaving them with nothing. Can they be that stupid??? Any help or advice on this guys would be appreciated. I have heard that postppj is a superstar when it comes to sortig this bunch of morons out, if so I could do with your help. Cheers