5 months left to pay on welcome finance car

[paulakirby]

Hiya all...excuse me if i get this wrong but totally new to all this posting etc. Took out finance from welcome nearly four years ago and its paid up in march 2011...never missed a payment but hubby had to take a reduction in wages or face redundancy. welcome ring me/hubby at least 4-5 times a month to ask when next payment will be received as we pay by debit card an not direct debt...I tell them not to harrass me as we have never missed a single payment. However we have struggled to pay the £243 a month for the last 3 months but scrapped it together somehow (mostly shaving small amounts off other bills). Can welcome repossess my car if i miss one or two payments and make them up by paying extra in the new year? many thanx to everyone here.

Paula

[sillygirl1]

Have a look at this

http://www.credittoday.co.uk/news/news-item.cfm?news=2046

[Tingy]

I would suggest that you write to Welcome Finance (not always the easiest of companies to deal with) and explain your situation, and either ask for them to freeze interest charges on the loan (Work out what you paid, how many payments you've made and so how much you have already repaid against the initial cost of the vehicle) - you may find you've already paid them for the car + a fair bit of interest. Or state your situation, calculate how much remains to be paid, and ask if they will accept reduced payments over an extended period.

 

You will need to produce an IE sheet to back up what you are saying. Others on here will disagree with me on this point as legally only a court can demand you complete an IE sheet, but realistically if you want a chance of them accepting your proposal you will need to do this.

[Ell-enn]

If you do write to Welcome, send it to the Head Office in Nottingham and by recorded delivery too. Don't send it to the branch they're incapable of reading letters let alone replying to them. One Welcome branch employee once said they weren't allowed to reply to letters as they hadn't been trained ! so what do they do with the letters? nothing !

 

If you need help with the letter please let me know.

[Tingy]

Absolutely Ell, they are a terrible company to deal with.

[pershing]

I have had dealings with Welcome and they are very hard to negotiate with. A relative who lives with us had a car on finance through them. He decided to surrender it half way through the agreement as the car was a piece of junk. They demanded a closing fee which he paid then charged him for repairs they said it would need. This was back in August however the car remains abandoned by them on our driveway. We have had to SORN it and the MOT has now expired. They seem to threaten repossession but when it comes to it they seem to have no infrastructure to collect vehicles.

[sequenci]

Hello there, is the agreement hire-purchase or a fixed-sum loan agreement? Do you have the paperwork still?

[Tingy]

Paula,

 

I notice you haven't replied to a single thread since you originally posted on November 22nd. Is this still an issue for you? If so, what is happening with it?