Welcome Finance - This company needs to be banned.

[eeeezzzyy]

What a shame !!! Just to let you guys know im doing my bit from March 1st by refusing to pay Welcome any more money until i get a copy of my original Credit Agreement and statements of all the payments made on my account...Ive been onto them since Dec 08 asking for a settlement figure on a personnel loan i took out June 07 (yes i know i wish id never set eyes on Welscum) my wife and myself have just come into (very fortunatly) an inheritance that will sort us out no end financially. Ive missed just one payment since Jun 07 but now for some reason they dont want to play ball and give me a settlement figure nor no paperwork....So time to play them at their own game !!!

[Sol]

Yep, it looks like Cattles years of taking people for a ride hve finally caught up with them. Share price currently 6.40

[BIGMAN2708]

What does that mean for those of us that have Welcome accounts and still owe them money.

[andie_303]

Welcome are I think trying to transfer as many accounts as possible to a new lender - so i guess we'd judt pay them instead - hope Welcome doesn't go down the pan before my day in court

[Sol]

It couldn't happen to a better bunch. It really does show what goes around, comes around. First the banks and now Welcome

[082stewie]

Welcome are I think trying to transfer as many accounts as possible to a new lender - so i guess we'd judt pay them instead - hope Welcome doesn't go down the pan before my day in court

 

 

Anyone know who the other lender is? Maybe they will use an incentive to get people to switch.

[082stewie]

Cattles shares slump on bad loan fears after profits warning - Telegraph for those who want a bit of a read on this bunch

[Sol]

Well I've just this minute received another phone call from Welcome, even though I have it in writing from the manager that I won't receive anymore. This time it was actually a person, rather than the automated voice - I just hung up.

[andie_303]

Seriously these guys are a joke - Sol can't get rid of them contacting him, I don't owe any money they owe me and I can't hear hide nor hair of them funny that??????????

 

Yep, and no doubt they'll be adding £10 for each call. Well they can sing for it

 

Now at 4.42p. This must be the lowest they'v ever been?

 

bountyhunter - when did you ask for a cca and did you send your letter recorded - if you did and have proof of receipt I think they have 28 days to provide this - if they haven't done it by then it's tough luck on their part.

 

 

I am currently in the middle of a court case with Welcome over the mis-selling of PPI - they have filed a defence with the court and the judge asked me to respond to each defence point they have raised. My question is then how much information do I have to give them? I do not want to give Welcome all my information so they have time to this of a bulls**t story for the judge?

Also I requested a SAR from Welcome back in Septmber 08 and they have still not complied with this request despite me also sending a reminder - can I put this in my answer as surely they can't do that.

Lastly I have also aquired some information regarding these insurances since filing my claim that I believe will work in my favour - do I have to declare this information before going to court or can I just present it to the judge as long as I have the proof to back it up?

 

Thanks

 

MarkieMark said:

Hi.... I have managed to get a firm of solicitors who are going to take on my case against Welcome Finance.

 

They advised me adding PPI to the loan together with acceptance feee was breach of Consumer Credit Act 1974.

 

We not just getting are PPI back but issuing proceedings against then to scrap the loan.

 

I will let you know how I get on.....

 

 

Marky

 

Would love some more info on this I'm due in court with Welcome in March for PPI but I think my acceptance fee and insurance has all been lumped together - anything you've got I'd love to hear if you want to share.

[082stewie]

Wooops and looks like Welcome finance wont make next week.

 

News on the market is Cattles/Welcome are in deep doo doo.

 

Almost 70% loss in one day on its already frail shares.

 

Time: 16:36

Cattles PLC

Bid4.10

Ask3.88

Price3.99

Previous13.25

Change-9.23 (-69.683%)

 

Where does this leave us people who have loans with these sharks?

[Sol]

I think they'll probably get quite nasty in the next few weeks to collect money owed.

 

3.50p!

[eeeezzzyy]

he he they can get as nasty as they want....they aint getting a penny more out of me until i see some paperwork and if im not happy with the over -inflated settlement figure they are certain to give me ill tell them to go whistle......Lets hope we are witnessing the beginning of the end of Welcome Finance

[eeeezzzyy]

Anyone for Cattles shares ????, oh dear according to The Telegraph report, doesnt look like Cattles can make their loan repayments £500M due in July....oh dear doesnt look good !!!!

[Sol]

I'm the same as you eeeezzzzyyy - they won't be getting a penny out of me until they respond to my SAR and confirmed that the agreements were in fact legit

[andie_303]

I wonder if their creditors are calling?? Oh and charging £10 each time lmao!!

 

On a serious note though if you have a claim going through court as I do and they go under does my case go under with them???

[Sol]

I'm not sure tbh. If they go under, they will appoint administrators to handle their affairs, so I assume you would still be able to take them to court.

 

When's the date?

[eeeezzzyy]

I simply cannot see how Welcome can carry on trading for much longer.....especially with a £500m loan repayment due in July....ouch !!!!

[Sol]

They're still lending as well! Stupidly, my brother applied for a loan with them last month and received it.

[eeeezzzyy]

Makes you wonder how though ?

[Sol]

I know. I've got a feeling that they'll stop all lending now though.

[eeeezzzyy]

Damm if Welcome go under im gonna miss the automated "we tried to contact you" today voice !!!

[Sol]

I'm sure you won't miss the £10 charge for the privilege lol

[andie_303]

Court deadline for answers etc in 6th March then they were looking for a debt in April to hear it all. Welcome have stopped accepting new customers they are passing them on to someone else....can't remember who though

[eeeezzzyy]

No i wish id charged them for the four letters ive sent them so far asking for Credit Agreements, Statements etc.....I will do with the Subject Access Request in March.....i cant wait for the phone call asking "payment for march"....."Erm send me some paperwork and when i recieve it ill pay you"...until then dont phone me again cos i wont answer !!!

[Sol]

Perhaps that's getting them some extra cash by giving aother lender new customers? I don't know if I like the sound of a company lending like that though, especially as every other company is tightening their belts.

 

I don't think they'll disappear as quickly as April, so you should be alright.