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Welcome Finance - This company needs to be banned.


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Evening Zaidey

 

Well The Main Arm Of Cattles

Thats Cattles Invoice Finance Has Been Sold/taken Over By A Private Equity Group

 

Well That Means Cattles Is No More

Welcome

Prob Cl Finance

Lewis Group

Cohen?

 

Will Soon Be Gone

 

They Have No Money, They Are Skint

 

Happy Days

 

 

Dont Worry About Me And Andie Speaking In Code

She Is In Court On Wed And Needs To Be Kept On The Qt

 

She Has Dynamite And Will Be Released After The Case

 

Welcome Are, Should Say Bricking It

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Evening Zaidey

 

Well The Main Arm Of Cattles

Thats Cattles Invoice Finance Has Been Sold/taken Over By A Private Equity Group

 

Well That Means Cattles Is No More

Welcome

Prob Cl Finance

Lewis Group

Cohen?

 

Will Soon Be Gone

 

They Have No Money, They Are Skint

 

Happy Days

 

 

Dont Worry About Me And Andie Speaking In Code

She Is In Court On Wed And Needs To Be Kept On The Qt

 

She Has Dynamite And Will Be Released After The Case

 

Welcome Are, Should Say Bricking It

 

aha i see :D:D:D:D:D:D:D

 

and good luck andy...we all there with you!!!

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Ok People

 

 

Lets Calm It Down A Bit

Excitment Has Got The Better Of Me And Ive Been Cagbooted Three Times Tonight

 

Lets Follow The News And Cattles Threads

 

Lets Have Hard Facts And Try Not To Speculate

 

But Ime Loving It

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Hi rikk

 

would I be correct in thinking you got the car via an hp agreement and for whatever reason re-financed?

 

I might be wrong here but that means your new finance agreement its a fixed sum loan or rather unsecured, so when you refinanced you basically paid off the outstanding balance on the car and took out a loan to pay less monthly.

 

in my thinking, that means your car is yours and they can't touch it because you have paid off the car by taking out a new loan...but someone will no doubt correct me if i am wrong

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Cattles agrees sale of subsidiary to recoup bad debts | Business | The Guardian

 

With the past affairs of the doorstep lending unit, Welcome Financial Services, now the subject of an investigation by the City regulator, the main focus for the Cattles board is negotiating a resolution of competing claims over Welcome's still considerable cashflows from bondholders and bank lenders.

 

Welcome stopped lending in February and as it winds down its loan book it is said to be receiving cash of between £50m and £60m a month.

 

Last week it emerged that Cattles had – for technical reasons and with the support of all debtholders – filed a lawsuit against Welcome. The action is an attempt to get legal clarity on whether it is bank lenders to Welcome or Cattles plc bondholders who have first call over Welcome's cashflows.

 

Behind the scenes the company insists it is still making progress with all parties towards a restructuring, though those close to the detail expect the court battle to drag on well into the autumn, with an inevitable appeal meaning the matter is unlikely to be resolved this year.

 

Cattles is thought to have about £2.6bn of loans and bonds outstanding. A £400m syndicated facility had been due for repayment last month. Royal Bank of Scotland, Barclays Capital, HSBC and Lloyds are senior lenders and the lending syndicate includes another 19 institutions.

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Morning all, managed to get access quickly. Exciting news I see on the health of Cattles, it is fair keeping my spirits up!

 

Andie, got your pm....WTF?! I burst out laughing in the library, got many many looks lol. That really is the level of competence there. Just want to wish you the best for 2moro, fingers (and all my other bits) crossed for you ;)

 

Have been hounding Lewis and their avoiding me now, or maybe just busy on jobcentre plus :lol:

 

If Post is there to celebrate with you I'll be there in spirit, you've all earned it :D

 

Take care all, will try and get back on later

Dipply75

 

I am in no way a legal advisor and only speak from my own experiences and the helpful advice of those in the same boat! :p

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Thank you all for the good luck messages

 

Fingers crossed, all it takes is a bad judge having a bad day and it could all go t**s up despite what I have.

 

We shall see - win or lose it matters not cos I have a second round of playing cards up my sleeve - Just in case :p

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Hope things go well tomorrow andie. It's great to see welcome on the back foot. Had a phone call the other day asking if I was paying this month. They seemed to accept my answer with a whimper saying the arrears are now £x,xxx. I said "That's good. Goodbye"

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had a phone conversation with them, I hit the record button and they refused to be recorded! afraid of slipping up like on the last 3 recorded calls they gave permission on. lol

guess no more calls though

 

you'd laugh at one of them, welcome bloke got his knickers well and truly twisted and got himself in a right state. it is very funny to listen to. tempted to use youtube!

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i sent my cca request off on 31/07/2009 and the tracking service is still showing as the post office that i sent it from!

 

has anyone had any contact with compliance in the past week or two? as i am wondering what is going on.

 

regards, lawrence.

 

 

Yes, I sent a CCA on 27 July. Track and Trace not updated yet but got an acknowledgment of my SAR (:roll:) yesterday. It's being processed, whatever that means...

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I sent a CCA of on 27th July as well and havent hear a peep from them, just a letter reminding me i was in arrears.

 

 

Oh yes, I got a letter couple days ago informing me of my new DD. Except it's not a new DD, it's been in place since April, same amount, always paid but letter says will be taken 3 days earlier - don't think so!

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Oh yes, I got a letter couple days ago informing me of my new DD. Except it's not a new DD, it's been in place since April, same amount, always paid but letter says will be taken 3 days earlier - don't think so!

Last i heard from Welcome was a lovely begging letter offering me a "once in a lifetime settlement figure", apart from that nothing, zilch not even a phone call !!!

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