Welcome Finance - This company needs to be banned.

[fergal71]

call us what you like...

sub prime, non standard...

this may be your first problem we are all individuals with certain needs. most of your borrowers are duped into taking PPI, no PPi no loan....

justify this....

 

I really hope unfortunately for you enough complaints lead to a fine for your company ,

which leads to administration...

 

I will be speaking to a team of solicitors in the near future which will hopefully enable good honest genuine people to clean up credit files and claim compensation from companies such as yours that use defaults like weapons to extort even more money out of consumers.

 

people are becoming more and more aware of their rights and the credit crunch is greedy profiteers gambling with others money knowing if they make it big they will share the dividends if they dont ah well the government will bale them out with money which could be used better....

rbs asking shareholders for money is the start of something which will change the banking industry for ever....

bit late but hey ho!!!

 

If i where you I would consider alternative employment as the industry you are in will slowly collapse....

I do not and will never need to justify my existence.

 

unlike you using the forum to pick up tips and try and make out how good you are....

I am convinced any members saying welcome are good company all work in your office..... ?????

 

just my opinion!!!

[fergal71]

every lender takes a risk if circumstances change.... this entire automated system between lenders, credit reference agencies etc needs to be looked at if the govt wants to reduce the £3 trillion debt in uk.... if i could borrow £10,000 and pay back £11,800 instead of using welcome say and have to pay back approx £19000 then immediately this would reduce the trillion debt.... the money making credit reference industry has a lot to answer to..... I have good wage , but I am unable to borrow at good rates due to a company putting a £100ish default on my file due to a disputed amount... I have tried and can do nothing to have it removed.... so I end up paying 19000 , where is the fairness in this scenario... this is the situation of so many people.... we need the govt to bring in new regulations to means test peoples ability to pay rather than force them in to expensive rates due to an alleged risk.... madness ....

[fergal71]

hi mr welcome congratulations on having a job well done... I am glad you can sleep at night without worry... I am also sure many of the bankers where saying much the same last few years.... let us see your postings 12 months from now after the oft have investigated your business and you have been slapped with heavy fines like so many others. Let us see if you are not flipping burgers then.

nothing against flipping burgers, i am sure it is much more rewarding ...

 

good luck

[fergal71]

hi jamie to be objective you may need to see both sides first, I hope and prey you do not see the other side of welcome... also your credit rating can not be in good shape if you needed to go to welcome which company gave you poor credit rating???? what was the reason for poor rating was it another unscrupulous lender who uses defaults as a scare tactic for collection???? welcome will worsen your record should you miss or be late with one payment good luck...

[fergal71]

I have never felt such happiness in others misery... i remember some welcome posts from staff in which they said business was booming.... happy days boom to bust just like the economy....

 

arrogant beastards....

[fergal71]

I have asked same question on PPI thread..... wait and see it hasnt set precedent cos of court set in... but if further challenges are made under unfair contracts then I see no reason why not but keep buming question and some of the wiser guys will certainly come forward and maybe prompt more court cases ....

[fergal71]

there seems to be alot more guests than caggers.... I think cag should do something about guests and make it private club.... 1305 yesterday as guests with just 235 caggers

[fergal71]

to all those guests and those that work for welcome, what a story hey.... i remember one such employee telling me when i was asking for mis sold ppi back. that welcome was in a strong position and they were lending more than ever and he was not worried about his job.....well i hope you read this below and remember that call you fool..... i will shed no tears for welcome employees who find themselves on benefits or searching for a new job in a decreasing sector...ha ha would be childish but hey ....;-)

 

 

 

RNS Number : 7475G Cattles PLC 05 February 2010

 

This announcement replaces the Cattles plc 'Potential Staff Reductions' announcement released today at 10.01am under RNS No 7456G. The company name throughout the announcement should read 'Cattles plc' and not 'Moscow plc' as previously stated. All other details remain unchanged. The full announcement appears below.

 

Cattles plc

 

Potential Staff Reductions at Welcome Financial Services

 

The Board of Cattles plc ("Cattles") today announces proposed changes in the organisation of its subsidiary Welcome Financial Services Limited.

 

The Board of Cattles announced recently that, following an extensive strategic review of its business and subsequent discussions with its financial creditors, it was unable to recommend a business plan which would allow Welcome Finance ("Welcome") to continue lending and it would therefore focus on collecting out Welcome's existing customer loans. It is envisaged that this process could take two to three years and, during that period, the Group's cost base will contract to reflect the reducing size of the book.

 

As part of an ongoing comprehensive review of the Welcome business, Cattles has announced today that it proposes the closure of circa 70 Local Management Branches and Local Collections Units nationwide. Cattles will now enter into a consultation process with staff affected by the proposals, of whom approximately 450 will today receive notice that they are at risk of redundancy.

 

Commenting on the plans, Margaret Young, Executive Chairman of Cattles, said:

 

"These proposals to further streamline the Welcome organisational structure have been put forward after an extensive review and careful consideration. We believe they are essential to Cattles achieving a more cost efficient business model which mirrors the reducing size of the Group's loan book."