Welcome Finance Query **Oustanding balance cleared plus rebate **

[Capi2649]

Hi guys

 

Been reading this forum for a while and advice given is always top notch and I was wondering if anyone can can advise me on a query I have on a debt outstanding from 2005 when I got divorced , I have recently looked at it and decided to check whether or not it was enforceable and any ppi to claim back as I've still got £1200 to pay on it as been paying a small payment of £20.00 a month so it's not statute barred .

 

I contacted WF a week ago by phone (I know lol) but to be fair to see if they had a copy of my agreement to make it enforceable as I was hoping not but my amazement they do have it and sent me a copy within days which I now have.

 

Looking at it I've got ppi to claim which I reckon will wipe out the debt as I know it will go to clear the outstanding balance but looking at the agreement its signed OK by myself but not by welcome so question is I gave

 

A. Will that make it unenforceable in court if not signed should I stop paying ?

B. If that's the case would my ppi redress still go back to them anyway?

 

Obviously this was defaulted but dropped of my credit file years ago and hasn't shown for sometime so all clear there

 

Any pointers appreciated.thanks in advance

[mikeymack2002]

Time to SAR WF and get the statements to see how many fees have been added template letter is here >>http://www.consumeractiongroup.co.uk/forum/showthread.php?387306-Full-Subject-Access-Request-**Updated-January-2015**

[caledfwlch]

I was under the impression that if you reclaim PPI, its up to you whether the money goes towards outstanding debt or to your bank account, ie, it's your choice, not theirs.

[Baz1994]

I was under the impression that if you reclaim PPI, its up to you whether the money goes towards outstanding debt or to your bank account, ie, it's your choice, not theirs.

 

Like mikeymack says send a SAR to Welcome as soon as possible.

 

Was the loan sold via a broker ?

 

Was the loan secured ?

 

Did Welcome freeze any interest and aware of any financial hardship ?

 

Have you been receiving any annual statements ?

 

Usually any redress would be offset against any balance unless you have any priority debts in which would have to be considered if advised.

 

Could you also kindly post up an edited copy of the agreement.

[caledfwlch]

Aren't Welcome "ok" to deal with these days anyway? I and an ex had loans with them, thankfully both statute barred now (serious problems and shenanigans with them at time of default, including their local staff masquerading as Orange Mobile Theft Unit (due to their behaviour ex would not answer her phone, I would for her) West Yorkshire Police Fraud Unit (I kid you not!!!) Bailiffs, they telephoned both of our parents threatening to smash parents windows unless we paid, they contacted the employer I was being made redundant from who refused to confirm I was being made redundant due to data protection, as they should have, so they pretended to be calling from the County court, attempting to trick HR into pay them either my monthly wage of my redundancy payment, claiming to have attachments of earnings, 3rd party debt orders, you name it, the HR Manager at that company was an absolute star though, and she really enjoyed playing their games - the only regret was that HR's phonelines werent recorded, we would have had Welcome in serious, and I mean SERIOUS trouble, criminal and civil. So me and my ex decided to screw them, we werent going to pay a penny, after all that once we got reemployed.

 

But I did get letters, one of the Ombudsmen had pretty much taken over the running of Welcome after that mass fraud by managers misreporting the true state of finances to the shareholders etc - and I noticed, within weeks of that happening my outstanding debt on my credit file had reduced massively - I owed £2000 but Welcome added literally £12000 in fees!!! Yep, twelve thousand pounds, fees! And that all vanished.

[Capi2649]

Hi

 

Just got a update on this one with a good news story , Did a claim via the FSCS and after 5 months had a letter back saying complaint about having no signature upheld and ppi missold , After outstanding balance wiped ( checked via Sar ) had a rebate from FSCS into my account so one happy guy , thanks for all your help and advice !

[maroondevo52]

Hi

 

Just got a update on this one with a good news story , Did a claim via the FSCS and after 5 months had a letter back saying complaint about having no signature upheld and ppi missold , After outstanding balance wiped ( checked via Sar ) had a rebate from FSCS into my account so one happy guy , thanks for all your help and advice !