Welcome are now officially dead and buried

[jj69]

all collections will move to head office and at a time that only welcome know all loans / hp's with outstanding dent will be sold on.

 

In very surprised that they have managed to find a buyer for aged loan accounts that are in default for 6months+, just shows theres desperate people / companies out there

 

 

Are you saying that the loans will or are being passed on to another lender ?

Im assuming if thats the case we will be in a great postition to negatioate with the new lender at getting reduced amounts...that said surely the agreements will be suspect because they were underwritten by Welcome/Cattles and any ppi etc with be null and void...

[Dan Ras Ting]

A silly question but....

 

Where are our agreements kept? My account has been taken over by 3 different branches in the last year. If everything is moved back to their head office surely things will get lost in transit. My last employer went to the wall and I can assure you, when you know you're out of a job, meticulous filing is not at the top of your priorities.

 

I'm about to send my CCA request in and fingers crossed my agreement has gone bye bye somewhere along the line. I might be getting excited over nothing but it would be nice!

[jj69]

A silly question but....

 

Where are our agreements kept? My account has been taken over by 3 different branches in the last year. If everything is moved back to their head office surely things will get lost in transit. My last employer went to the wall and I can assure you, when you know you're out of a job, meticulous filing is not at the top of your priorities.

 

I'm about to send my CCA request in and fingers crossed my agreement has gone bye bye somewhere along the line. I might be getting excited over nothing but it would be nice!

 

 

I would be tempted to ask for my CCA in a couple of weeks ,that way with branches closing down and paperwork moving they may never be able to locate it...

I can only comment on my local branch but it looks like they only have until the end of Feb..

[Dan Ras Ting]

Sounds a plan.....

 

With all the turmoil in the Welscum camp the retention of any documents must have suffered.

 

Good news for all of us

[RALALU]

Thats my point, if a company is willing to take a massive risk in buying these debts, which at best are dubious with incorrect agreements and PPI claims they must have had a massive reduction in the cost of the outstanding debt to balance out the loans that will be unenforceable and the ones where cliams are currently ongoing. Therefore i think any offers should include quite huge discounts

[mark1arby]

All Of Welscums Outstanding Debts Must Be Seen Has " Toxic "!!! Especially the Ones Being Disputed At this Time!!!

 

In My Opinion, Who Ever Buys them Will Pay, who Knows 1p In the £ and Gamble On Getting Some Back At 10p In The £. They Will Of Course Collect On the Ones Still Being Paid First.

 

You Will See Some Great Offers As Time Goes On!!!:grin:

 

I Have Had It From the Horses Mouth ( South West Area Manager) The **** Do Not Keep Any Original Agreements!!! They Are Sent To A Data Collection Company. Transferred To Electronic Files Then Destroyed!!!:grin:

 

This Is where the Recent Ruling From Some Cases In Manchester( I Think ) Comes In. They Can Now Use Re Constituted Agreements, MADE UP ( Appropriate Wording) From Information They Can Gather Together??? Instead Of A " True Copy "!!! But What Happens When It Gets To Court, I Don`t Know???

 

I Believe This Is Being Looked Into By The " Enlightened Ones " Right Now!!!

 

I Will Be Corrected Shortly No Doubt, But That Is What I Was Told And What Is And Will Happen IMHO.8-)

 

Cheers, MARK

[RALALU]

Dont forget welcomes latest figures show that they are still losing 1million / day - the shutting of 25% of their offices will reduce this slightly but it'll probably reduce the amount they collect from were those offices were aswell as soon as people realise that they arent going to get a visit from their collections staff.

 

Sooner rather than later their doors should be shutting for the last ever time.......

[Dan Ras Ting]

This story of staying open for 2-3 years is a load of nonsense. There is no way that they could stay open for even one year losing money at that rate. As more and more people (like myself) catch on and discover news sites and cag and realise that people are taking this opportunity to fight back, more and more people will put their accounts into dispute or just stop paying. It will completely cripple whats left of Welscum and all I can think is "it serves you right!"

[Dibbothe3rd]

I assume now that Welcome or Cattles do not have to report figures to the public as they are no longer listed on the stock exchange and all shares are suspended.

 

How will we know updates on their current financial situation in the future?

[doddysgal]

If the debt is bought by another finance company will they in turn take ownership of my car?

[sillygirl1]

I thought that until a company was officially disolved it still had to report certain info... could be wrong on that though,

[Dibbothe3rd]

Well under normal circumstances yes. But Welcome / cattles are not a normal company as they are a loan provider so they run a little differently. The company itself is not trading any more but is remaining open to collect outstanding debt, and because they are part of a group it makes it all the more difficult to see if they are supposed to report to the general public.

 

Its very unlikely we shall see any sort of accounts, but there maybe releases of info to shareholders etc.. so hopefully we shall find out that way.

 

I dont know lol, its all very complicated. I guess we all just want to know when these guys will disappear from the face of this earth. Sooner the better.

[ketw001]

i currentley have a hp agreement and loan with welcome, owing roughly £15000 this includes a massive amount of interest.. i had'nt missed any payments till my partner passed away in 2007 and had to give up work to care for my 3 children, the first thing they done was to reposess my car, i now pay £28 a month and the arrears are £5840, and i recieved a letter from them last week asking for payment the first letter iv had in nearly 3 years, any suggestions on what i should do with this situation? thanks

[dx100uk]

i currentley have a hp agreement and loan with welcome, owing roughly £15000 this includes a massive amount of interest.. i had'nt missed any payments till my partner passed away in 2007 and had to give up work to care for my 3 children, the first thing they done was to reposess my car, i now pay £28 a month and the arrears are £5840, and i recieved a letter from them last week asking for payment the first letter iv had in nearly 3 years, any suggestions on what i should do with this situation? thanks

 

it would be better to start your own thread in this forum

 

dx

[steven4064]

Hi ketw001

 

Does the agreement have any insurance on it? If so, write and ask them for information on the commission paid to or by them, Direct Group or Norwich Union

[ketw001]

hi steven4064.. im not 100% sure if there is insurance on these agreements, but i will defo find out. thanks for your response.

[discod]

We owe about a 1000,both of us lost our jobs before Xmas.Welcome know this but still insist on visiting us with me sending them away telling them they have no legal right to just turn up and that we are broke

[jj69]

We owe about a 1000,both of us lost our jobs before Xmas.Welcome know this but still insist on visiting us with me sending them away telling them they have no legal right to just turn up and that we are broke

 

Well let them get as much exercise as posssible there gonna need it pounding the streets to the jobcentre fairly soon.No doubt they will have lumped charges onto the account same as for myself but when these get handed to the new numptys those charges will be getting disputed straight away...

[RALALU]

Discod - do you have PPI on the loan, also it is secured or unsecured?

[discod]

No PPI and its unsecured

[RALALU]

Firstly I would be requesting both a copy of my credit agreement and would also do a subject access request.

 

This will confirm if the loan is enforceable and what charges the lovely pepole have been adding.

[steven4064]

I think you will find Welcome agreements comply with regulations about layout and content - in other words, you are not going to get them on a technical error. However, it is my firm belief that, where inurance has been included, there are hidden commissions which are unlawful and woud make the whole agreement null and void (rather than unenforceable)

[Pitsy]

Are Welcome any closer to actually being dead and burried i.e. the debt being called in?

There was talk of shareholders taking action to force the issue, is there any update on this?

 

Seems there are an awful a lot of customers out there poised for this to come about, though who knows if this will make things worse or better, maybe better the devil you know, that one can ring rings around due to Welcomes incompetence, than the one that takes up the reins?

[pat123]

Just wondering if anyone would be able to help me?

 

Took out a car finance loan with welcome in august 2004, loan agreement was for 48 months, therefor should have been paid off by august 2008. I have £1725 remaining. Contacted welcome for a settlement figure, they told me balance is £1479, the extra is charges so if i wanted to settle i would have to pay the higher amount (1725). They then told me they can not do anything else as the account is in the process of being passed over to thier sister company 'The lewis group' in which i would be able to settle the account at a slightly lower rate. I then contacted the Lewis group yesterday and they told me they would have the account on thier system by this morning. Called this morning still nothing. My problem is i want to sell the car this weekend but cannot do this whilst account is still open. any ideas?

[Pitsy]

Lewis Group are part of the Cattles Group (as are Welcome) and are Welcome's debt collector, so it appears your account has for some reason been passed for debt collection to Lewis.