I am about to default on 1st payment on a loan with welcome finance on the 15th October. Already gone BR but worried about what they will do. Been on internet and heard they are nothing more than loan sharks and I will be arrested can anyone shed some light anyone defaulted with this company and what happend. Already had a very nasty phone call from them as they have been advised of the cancellation of my DD from the bank they said regardless of my BR i must pay or the bayliffs will call or worse a custodial sentance and be arrested from my own home.Do they just scare monger or have I a good reason to worry, I am really concerned as I have a 14 year old who has to let himself in after school as I am at work and my husband works away and is only here Sundays I have told my 14 year old nothing about my BR as I dont want him to worry.
Hi Vacs be looking at the time of your post looks as if this is really worrying you.Please take a step back to look at the bigger picture otherwise you'll make yourself ill.
Baliffs only call to collect goods to sell from your house to resale if you dont make payments when the court has ordered you to.They are if you like the end of the road of a long process that can take months.BIt like this ...The companys have asked for payment serveral tens of times.The company has gone to court to get a judgement against you to pay them and then you still havent payed up even though the court has told you to.So the company goes back to court to ask if an enforcement warrant, then if the courts agree the baliffs can be sent in.
NONE OF THE ABOVE WILL APPLY TO YOU BECAUSE once you are Bankrupt the court has already judged that you cant pay the debts you owe, so therefore will not be ordering you to pay Welcome Finance!The Bankruptcy order in effect wipes out the debts with the purpose you can make a fresh start.
WELCOME FINANCE WILL SAY ANYTHING TO MAKE YOU PAY MONEY TO THEM.As said in my other post - there is probably a salesperson who will now not be getting their commission on a loan they set up because you havent made your first payment.
Think to yourself when you signed on the dotted line with Welcome did you plan on Bankruptcy? If YES then you shouldnt of signed and could be looked on as Fraud, If NO then you were doing the same as 95% of their customer base does,Hoping that this last cash injection will be enough to start brightening your finances.
If you did make a payment to Welcome that is also a NO NO.Remember the OR is on your side when it comes to batting these companys back into line.It is illegal for Welcome to demand payment once they have been notified you are BR.
PLEASE CALL WELCOME AND GIVE THEM YOUR BANKRUPTCY REFERENCE NUMBER, THE NAME OF THE COURT AND THE ADDRESS OF THE OR HANDLING YOUR CASE. THIS SHOULD BE ON THE COPY OF THE BANKRUPTCY PETITION FORM YOU SHOULD HAVE RECEIVED. IF YOU DO NOT HAVE IT YOU CAN CALL THE OR'S OFFICE TO SEND ONE AND GET THE REFERENCE NUMBER FROM THEM.
I CHECKED ON THE FINANCIAL SERVICES AUTHORITY (FSA) WEBSITE. SEE BELOW;
thankyou Pix1 and winchester78 for all your support over the welcome finance loan. I have rang today to let them know I am BR they didnt sound too pleased but who cares companies like this should expect BR cases as their interest is a joke and they prey on people like you and me. once again cheers for all your support it means a lot. Well tonight I will try a get a better nights sleep as my sister is coming to visit for weekend with kids,they will take my mind off things. Keep posting everyone and I will let you know how things pan out.....
You make sure you get a good nights sleep and also have some well deserved fun over the weekend.
Im glad you called Welcome i would have loved to have been a fly on the wall when you told them, tuff me thinks as you have said its people like them that prey on us vulnerable and then because of them we end up having to go BR.
Enjoy your time with your family :-)
Jo x Your Mother Hen :-)
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