welcome finance secured loan HELP!!

[sickntired]

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

[sickntired]

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!!!

[maybelline]

please use search to view the Welcome Finance threads on here already. You will be able to see how others have dealt with their threats.

 

WF like to intimidate people and use aggressive behaviour to force people into agreements that cannot reasonably afford so that they can take the property.

 

you might have a good look at your agreement also to see if its lawful.

 

good luck.

[weescotschick]

Hiya,

 

Ive got a secured welcome finance loan been with them for 5 or so years and have up my loan a few times. I have on several occassions missed payments with them, but always offered to set up arrangement to clear the arrears whether it be weekly or monthly but they can be nasty they have been like that with me in the past.

 

Ask to speak to a manager to explain that you will pay next week when you said you would, surely they must give you time as you are offering to pay them and not ignoring them as other ppl would do. They are itimidating you which is not nice as they have been the same with me .

 

Today I called them to explain i couldnt pay tomorrows payment of £328 tomorrow as my wages cheque has only jsut been paid in to bank today and wont clear until next tuesday which is only really 3 workign days away. But they were like no we really need that payment tomorrow otherwise they would start recovering but to be honest for one payment I was like surely not. So they asked me if i had a cheque book which I do but i explained Im overdrawn, but they told me to write the cheque as to them it will be a received payment AND THEY WILL COME TO MY HOUSE TOMORROW TO PICK IT UP.But ive tried telling them it will bounce. Im going to pay the £328 by card on Tuesday when I said my wages will be avaliable because I know for a fact they wont refuse any payment.

Im 7 months pregnant and I know that dont change how they treat you its awful that they can reduce us to so much tears and stress even when we are offering to clear the arrears.

 

I hope this helps you a bit

 

Michelle

[sickntired]

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?