Another Welcome Finance/Coast issue

[s1979]

Like many others we fell into the welcome trap back in 2005!

 

We took a secured loan for £10,000 and increased it a few months later.

We dutifully made payments we couldn’t afford for some time and think we received a PPI refund off the balance around 2009. By this point we had stopped paying them we just couldn’t afford it.

 

Just over 2 years ago Coast started writing to us. I spoke to them initially and said we were going through a bereavement as my father in law had just passed away and they said ok we will put account on hold

 

they actually called me at the funeral when I told them not to contact us until after that date due to everything going on!!! They did send us a £50 apology and letter.

 

We get 2 letters each every month telling us the same thing each time and I am wondering what will happen next.

 

Does the 12 year statute bar rule apply to these accounts?

Are they likely to take us to court?

 

I read the letters and check nothing new is added and then bin them but it’s at the stage I think I need to address them as if necessary could find a way to pay them.

 

The sum they are chasing us for is just over £2900 which I suspect is mainly charges etc 

Edited December 4, 2021 by dx100uk
added A few blank lines only..dx

[dx100uk]

When did you last ever pay anything?

[s1979]

It was before they went into administration. It has to be 2009/2010.

[dx100uk]

So well statute barred as this is not subject to a repo shortfall.?

 

is the charge still showing on your deeds? If so under who's name?

[s1979]

I don’t know. Can you tell me how I find this out please?

 

[dx100uk]

land registry site use only the gov.uk one costs £3

[s1979]

The original charge is in favour of Progressive Finance 

A deed of variation was made in April 2018 to add Coast Finance Solutions S.A.R.L

[dx100uk]

no replace with coast not add?

 

so pretty std as with all the coast threads here.

 

you getting rid of that charge is the only way to rid yourself of coast, that overrides the SB matter sadly its secured in their name.

 

you appear not to have any details as you've either stupidly binned everything or lost/never had it

 

send coast an sar

won't hurt to send welcome one too.

 

 

[dx100uk]

oh and read the cruz thread in this forum...

[dx100uk]