Feb
20
Is it really possible to get money back from a company called welcome Finance?
By
Hi, I am from london and would like some advice please.
I took out a £10,000 secured loan with Welcome fiance about 4 years ago but ran into difficulties paying the loan and my mortgage. The house was eventually repossessed and sold. I found out recently that the solicitors are unable to release any surplus until they have paid Welcome Finance their settlement figure which, according to Welcome Finance, is £19,000. yes you are reading it properly! They want £19,000 back for a £10,000 loan even though I have paid about £11,000 to date. Their excuse is that I have not always paid and the arrears stands at £3,600. The monthly repayment is £284.50 but when I don’t pay it they charge £300 every month on the account! I knew i would owe probably owe the some money but I thought it would be somewhere in the region of £5,000.
I would appreciate it if someone could let me know if I can get any of this money back.
I am at my wits end and devastated by what they are doing to me.
Rent Back
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2 Comments
May 3rd, 2009 at 10:28 pm
this happened to some one in my family and what he did was file for bankruptcy
May 5th, 2009 at 2:50 am
Good Lord!!! That’s awful. Read your original contract and see what it says. I would file for bankruptcy too. Your credit is already screwed, file bankruptcy. I don’t always suggest that but your credit is not good right now since you have a repo anyway.