I read several posts on here in the last few months as I struggled to find any contact for a company called Alpha Credit Solutions 4 Sarl in Luxembourg to discharge my loan. 
 

Acenden/Kendington were administering loans in the UK but had no authority to discharge.

They, frustratingly, had no actual contacts details for the accounts they administered.

My debt had been clear 6 years before I noticed the issue whilst selling. 

Just wanted to let others who may find themselves in this situation that the link was a company called Arrow Group who have offices in the UK and abroad.

Their managing directors in Luxembourg are the same few as various institutions there who may hold your loan (coast, precise, alpha)

you should make them your port of call via the web contact page.

I was contacted 24 hours after messaging and all the paperwork is now being processed. 
 

Found my acc numb and proof of payment via bank statements (last payment being a large lump sum to clear loan)  but can't find any contact details. Believe the company went bust in 2016 so not sure next port of call.

Hi dx100, You seem super knowledgeable, with this area.

Please can you help me.

The loan (which was fully paid is still on our land registry and i can't seem to find a way to get it off,

i have been posted from one company to another.

I have now been sent to alpha credit 4 sarl in Luxembourg and can't get hold of them...

. we are so close to completing our sale but obviously can't until this happens.  

I'll try and get to the point but this is so complex you would not believe.

Split up from wife in Jan 14 moved out she stayed in house due to the 2 kids.

Morgage solely in my name.

Went on credit report Nov 15 due to not being able to get a overdraft credit card or add a tablet to phone contract.

Couldn't access it for weeks due to many factors one my own fault did no realise I wasn't on electoral roll.

When I did get on it there was quite a bit of debt

not a huge amount but things I knew nothing of.

Signature forged etc.

One debt ended up in a CCJ, but I went to court and had it set aside.

I have not reported her for fraud due to the kids.

Lots of credit searches in her name to payday loan company's

many to a company called welcome finance.

Who had been calling me about a debt for a few months prior about a joint account .

Yet every time I went down local office when I found out where it was

no one would speak to me due to data protection.

There is nothing on experian tying me in with this debt no default, no loan account

Due to CCJ I contacted land registry to see if anything there

and a legal charge secured loan to progressive finance 2006 again not clue how.

Do some digging and welcome and progressive same company

. I email them for more info.

They tell me it's down to a secured loan I took out in 2008?

But the charge says 2006

I asked for further information on this? Such as a credit agreement.

As I have had no dealings with your company.

Other than a few phone calls regarding payments

when I went down to the local office in Merthyr and returned phone calls asking for more information

no one would speak to me regarding it or provide what I asked for.

I requested a CCA which the returned po and asked for my signature

I did not sign and told them they gave sent information before so I have no need to prove who I am

they emailed a credit agreement dated 2008 which looks like my signature

but you can barely make figures out.

After the 12 + 2 days were up.

I head office they were now in default and they had not provided me with what I'd requested

. I then received a sar.

I had a default notice asking for arrears from local office

, they were sent a debt dispute letter.

I had thank you for being a good customer

and local branch were moving in April 2016 heard nothing since

I look through sar there are blank pieces of paper with my signature on there are loans

some look like they are my signature some definitely aren't mine.

almost all have her and my signature loans are from 2001 to 2008

the last loan was for 30 grand and 39 grand interest on top 300 months?

There are call logs saying mr called in

was not me phone calls again not me

. But the handful of times I did ring or go down to get answers nothing logged

. Am bank statement in this sar are ex wife's.

There are some of my bank details for direct debits

I've checked my bank there were many payments to welcome.

No dockets of mine in there or proof of my wages at all.

There a piece of paper saying legal charge 2008 but it hasn't been registered with land registry.

There are statements and I have to admit when I left in 2014 I paid money to this company as she worked out who would paid what.

Stupid not to question but my head was in shed when I left. .

I have calculated that £20.6026 has been paid to loan since 2008

balance on then was £30,514.26 and still stood at £25,384.31 in July 15

no payments since jun 2015 cos I had already wised up by then

and thought why am I paying a debt that's hers.

The loan before this in 2006 you can't read figures on the fixed loan sum agreement

it looks like £429 a month.

on the contract and legal charge agreement it says £129.39 180 months

they all look like re writes but not all are that readable.

Plus they have overinflated house price in 2003.

Is this loan legal enforceable?

What can I do? Help??

Still haven't heard a pip out of welcome.

I'm a newbie to the site and I hope i'm in the correct forum.

I would be very grateful for any advice or guidance from those of you with experience of similar issues.

We took a loan with Welcome Finance in 2007 secured against our home for £17,000.

Over the years they have changed companies and are now known as Prime Credit.

We have taken steps to sell our home and have accepted an offer.

It is only now that we are in a position where we are looking for a new mortgage that we have realised the secured loan will create difficulties.

We have paid £234 per month for almost 10 years totalling around £28K.

When we finish the loan with Prime Credit in another 5 years we will have paid in excess of £40k

Can anyone offer some advice on the best way to approach this with the Loan Company please.

We have just realised that if we have to settle the loan first we will not have the deposit needed to move house.

We have been improving our credit scores over the past few years and are bordering on achieving Good.

Would it be advisable to apply for an unsecured loan to pay this off or would this also affect our mortgage application.

We are so confused about the best way to deal with this

Many thanks in advance for any help you may be able to give.

We bought a Car through Yes Car credit back in the late 1990,s.Total payment was approx £5K(£1500 for car rest interest/ppi etc). Payment was over 4 years.

After just over 2 years the car developed a major mechanical problem that would have been covered on the warranty(3 years). We contacted the warranty company to be told it no longer dealt with Yes & Welcome car Finance had taken over. This was news to us as never received any correspondence from them.   

On contacting Welcome we were told the warranty was now only 2 years & therefore we could not claim. We could not afford to have the work done due to reduced income(health issues). Welcome agreed to take the car back & send us a final statement that we could pay by reduced monthly instalments(never received).

Shortly afterwards  my Wife was diagnosed with mental health issues that stopped her from working & I became her Carer. We contacted Welcome who instead of responding themselves passed the remaining debt to Cabot. who with the help of the CAB arranged payment at £10pm As of now March 2024 we still owe over £8K. Which by my calculations is 70 years left to pay off(I will be 130!!).

Question is there anything we can do, as by my reckoning must have paid off the original total & just left with this huge interest/fees?? My Wife will never return to work & I will remain as her carer?

as others not made any payments for several years and understood coast didn’t have the power to obtain eviction notices because offices out of the uk,

now I’m worrying Swift will be able to apply for eviction notices,

am I right and if so are there any legal firms who might be able to look at this,

this has been a worry for many years and affecting my health,

thanks in anticipation . 

From memory it was around 22k (I have requested a breakdown of info from welcome so will report back with that)

Paying back currently at £250 a month until

this month and last when I had no choice but to miss the payments.

Having discussed this with welcome I asked for a breakdown of the remaining payments,

to which I was blown away to find out there are 178 monthly payments remaining at that payment amount.

By my calculations I have paid them back approximately £15 000 with another 44 500 remaining.

Im not in a position to up the payments to clear it off faster and pay less interest.

Have I any other options other than to just keep making the payments?

I haven't claimed PPI back on this account,

im going to research into that now,

however from the limited looking around I have done

I believe I am past the time limit as with this loan being 5 years old my previous 3 unsecured loans will be at least 6 years old.

Again the information above might not be totally accurate,

but its what ive been lead to believe on the phone.

Ill report back with more accurate information when I have it.

So first thing first,

Wait for the documentation requested from WFS,

Then send in the information request along with the £10 as outlined in one of the threads above,

and then start persuing the PPI aspect,

However im wondering is there anything I can actually do about the loan?

In the mean time, thanks for reading and any basic advice of what way I should move forward would be appreciated.

Thanks

Bob

Can't remember exactly when could be 10/12/14 years ago.

Ran into difficulties and so ended up paying £1 a month which I still do.

Always paid it after it was passed to different debt collection agencies.

Been paying to Cabot for as long as I can remember.

My question is

do I still have to continue paying?

What would happen if I stopped paying could Cabot take me to court or do anything to damage my credit rating?

Welcome Finance never took me to court so never got a CCJ.

Any advice on what my options are would be greatly appreciated?

thank you.

I''m looking for some advice regarding a charge on my property which has been highlighted during a remortgage application.

I took out a secured loan with Welcome finance back in 2006 and there is still a charge showing on my property to Progressive Financial services with a note under handing it to Coast- apparently Welcome became Progressive Financial services who then sold all debts to Coast as part of insolvency I think in 2018....

gleaned this from googling and here though I'm thinking this is mostly common knowledge that me under my rock missed out totally!

they are saying I owe just over £5000. I was pretty sure I had paid this off however upon checking with my bank I must have defaulted as the last payment I made was in September 2009.

I have never been asked to repay this loan and have not even had any correspondence regarding this in years!!

My question is where do I stand?

Do I have to pay this now?

And if I don't can I get the charge removed?

Some more researching indicates some secured loans have a 12 year statute barred period but that's as far as I've got.....

I've no idea where I stand with this now but I do know I have not entered into any correspondence with them or anything since that last payment over 13 years ago.

Any help or advice would be greatly appreciated.

Thank you

• I am presently looking at if we both signed the land registry application(Coast  and I). as - as a joint owners - on a property jointly owned.

Purchased a car & Three year warranty through "Yes Car Credit" back in the mid 1990's (total of approx £5K including interest). Yes went "Pop" a year or so later & it was passed to Welcome.

After about two & a half Years to Car developed a Suspension issue. We contacted Welcome to arrange repair under the Warranty. Only to be told that when they took over they transferred to Warranty to another company & it was only for TWO Years & so Car was no longer covered. We were notified of the change to Welcome, but not  the Warranty.

After a long discussion(over several weeks). It was decided to return the Car as it could not be driven, still paying for it & we could not afford the repair (During this time my Wife had to give up work due to illness & I became her Carer).

It eventually went to Court (advise given from CAB) & a CCJ was issued for £10 per month, with payment to Cabot

Fast forward approx 24 years to now & in the last few weeks have received two letters from Cabot(which is the first time we have heard from them since the creation of the payment plan for the CCJ). Both asking me to up my payment to £40 per month & the outstanding Balance is £8,730.52!!! I'm 59 & at £10pm I have nearly 73 more Years to pay.

Questions. 

I read that Welcome Car Finance is no longer trading & went out of business on the 2nd March 2011.

Is this correct?

Being on Disability/Carers Benefits since the late 90's & recently had to go on a Debt Management Plan. Can this be added to the Plan?

Doing some Maths we have already paid off approx £3K, so Welcome/Cabot must at some point added £5K to the original Debt. Does this sound right?

Any other advise eg could this debt be written off as had a similar issue with Provident, but that has been written off?

Thank you in advance.

A few weeks ago I remembered that 22 years ago I used Welcome Finance to buy a car.

I thought I remembered being cheesed off at the time with them adding some extras on but couldn't be sure.

I sent them a SAR and, unbelievable, they responded with my data (although actually just two PDFs, one with their privacy notice and one showing my old account.

However, I must admit that I don't seem to be able to understand it properly.

In the below PDF it shows that there were 'extras' (Insurance default, Old mechanical breakdown, collision call and Old shortfall / Gap insurance) added but it says in one page of the PDF that they were started 10/05/1998, ended at different dates but then shows 'cancel date' was 2/06/1998 - less than a month after they were added.

However, you will see on the second page, showing the account, that on 19/5/1998 'Insurance Premiums Advanced' of £236.03 were added as well as 'Disbursal of fees' of £55.

the second PDF they sent, it states:

Terminology Appendix

Please be aware that for the outcomes listed below, you don’t have a valid PPI complaint against

Welcome Finance.

Non-regulated - Pre June 2000 Sales

This policy was purchased prior to Welcome Finance’s voluntary membership of the General

Insurance Standards Council (GISC) which began on 27th February 2003.

The (then) Financial Services Authority agreed that any non-regulated insurance sales (that is, those sold prior to Welcome Finance’s membership of GISC) are the responsibility of the insurance underwriter.

Due to the date on which this policy was purchased, the PPI mis-sale complaint must be referred to the underwriters of the insurance for it to be considered.

Unfortunately Welcome Finance does not hold records of underwriter agreements prior to June 2000 due to the time and as such we are unable to confirm the details or provide information about the underwriter of the policy.

When selling insurance policies, Welcome Finance was acting as an agent of the insurance underwriter under a signed contract.

The earliest contract signed by Welcome Finance and an insurance underwriter of which we have retained a copy is dated June 2000.

In terms a complaint for PPI mis-sale, as the insurance underwriter does not seem to have had a written contract with Welcome Finance, it considers itself to be outside of any regulatory liability obligations.

Although PPI-mis sale is the responsibility of the insurance underwriter and not the lender, any complaint pertaining to an unfair relationship due to the sale of PPI is the responsibility of the lender and as such, WFS will consider any such complaint where valid.

Out of Scope - Date Range

As you did not have an account open as of 6th April 2008, you cannot complain about an unfair relationship due to undisclosed commissions in line with the Financial Conduct Authority Policy Statement PS17/3, issued in March 2017.

Please can I ask for some advice on my perhaps naïve question of - are they correct re any claim being out of scope?

Sorry for being confused.

converted (1).pdf

He did do a ppi reclaim which shortened the term of the loan which enabled him to pay it off quicker.

He is now trying to remortgage the house but the mortgage advisor has found that Welcome Finance did not remove the charge from the land registry. 

My husband contacted land registry who told him they can remove the charge if he provides the letter from Welcome Finance. They did say that they can see the balance is zero but they need the letter. 

We are trying to find the letter to say it was paid off but so far we cannot find it. 

The conveyancing solicitor say they can get it removed but it will cost almost £300.

Can anyone help as I know Welcome Finance no longer exist.

Can I ask if anyone has been repossessed yet and if not, why not. I noticed a particular post above stating that coast after a court hearing does not attend or respond.

Today i got a letter to say welcome finance has won the court case

and i need to pay full balance of £5000 even thou i got a loan of £2000,

I did apply last month online for to hold it off for 28days

but as i'm getting redundant and getting all stressed

but i have to do 4 week notice period

i cant afford the full balance

is there a way i can get round this and pay little bit till i get another job?

please help im stressed enough,

My partner and I took out a secured loan with Welcome in May 2008.

The loan is for £10k and monthly repayments are £209.

We were both made redundant within the last 12 months and noticing we had no PPI

we have managed to keep on top of payments albeit we now have some guy who rings up at the end of every month

and we have paid by my partnersa card with no problem.

This month however we are unable to afford it,

the guy rung our landline this morning and Ia told him we had a problem

and due to the fact I start a new job on Monday we would be able to pay double at the end of next month.

He told me this was unacceptable and if i did not pay by 5pm today there would be "serious consequences"

when i pushed him as to what these serious consequences were he gave no answer.

He now insists I go to my local branch at 3pm today with a mini statement or some sort of proof i have nothing in my bank.

At no point has he mentioned my partner.

The account is up to date as of this month but do i go along today ?

Im really not sure at all, any advice would be really, really helpful.

Many thanks

We took a secured loan for £10,000 and increased it a few months later.

We dutifully made payments we couldn’t afford for some time and think we received a PPI refund off the balance around 2009. By this point we had stopped paying them we just couldn’t afford it.

Just over 2 years ago Coast started writing to us. I spoke to them initially and said we were going through a bereavement as my father in law had just passed away and they said ok we will put account on hold

they actually called me at the funeral when I told them not to contact us until after that date due to everything going on!!! They did send us a £50 apology and letter.

We get 2 letters each every month telling us the same thing each time and I am wondering what will happen next.

Does the 12 year statute bar rule apply to these accounts?

Are they likely to take us to court?

I read the letters and check nothing new is added and then bin them but it’s at the stage I think I need to address them as if necessary could find a way to pay them.

The sum they are chasing us for is just over £2900 which I suspect is mainly charges etc 

if anybody could offer me any good advice, I would be very grateful.

A long time ago we took out a secured loan with welcome finance and after a couple of years I lost my job during a recession. 
we renegotiated with welcome a new payment profile but they stopped communicating with us and instead sent us several letters saying we were in default. 

we stopped  hearing after a while and then heard that welcome had dissolved and then out of the blue we got a letter from coast stating that we owe them £21000 and if we don’t pay the debt or make an arrangement with them, they would take measures to re-possess our house.

my partner contacted them to arrange a payment agreement of £250 a month but the woman on the line insisted on taking all our outgoing details and demanded we pay £500 per month.

we explained that this was not possible and the woman said she would come back to us to confirm if they were pre-armed to accept our offer.

last week we received a letter from coast stating that if we did not agree a payment agreement with them, they would instruct solicitors to re-posses our home.

my partner called today and offered £375 per month and a £1000 each April when I receive a small work bonus.

we paid £375 today as a goodwill gesture but still insisted on an outgoings conversation before an agreement is in place.

what I found odd is that we have to contact them and pay 3 payments before they will set up a direct debit for the agreement….this sounds a bit suspicious to me.

can coast force the Sale of our house as I have read different things on the internet tonight stating they can’t because they are not regulated by the FCA….we would greatly appreciate any advice as we are besides ourselves with worry.

thankyou

Was wondering if anyone can offer some adice as to my current situation with regards Welcome Finance.

To cut a long story short

I took a loan at 76% interest when I was 18.

Couldn't make the repayments and fell behind,

eventually becoming unable to make any payments.

A few years on and it's a different story..

. Making real money in a decent job and all of a sudden welcome come chasing.

Unbeknownst to me, My loan (in default) was moved to a new Welcome Regional Office as part of their internal re-shuffle.

I continued to repay said loan without questioning anything.

I recently gave Welcome a SAR and some interesting things have came back.

Based on their internal notes they sent the attached letter to my old address which they knew I no longer lived at having carried out a trace.

What they have however done is move my loan to a completely new account/agreement.

Not signed by me, and never agreed by me.and they are unable to provide any CCA paperwork/agreement.

Now I know about the standard fee's I can reclaim

however if someone could offer me any advice as to the legalities of their second agreement and this attached letter I'd appreciate it.

Also one more issue

I've spotted is that in their standard MIDA Customer Notes database taken,

I guess, on their company CRM system they have put my entire debit card number, Start & Expiry, Issue Code and 3 digit code without any encryption.

(150% non PCI compliant) for all staff to see.

Could I have them over a barrel for just that one major breach of data protection act?

Thanks in advance

this an unsecured personal loan which was taken out back in 2002 and the last payment was back in 2004/05 and Cabot quote 'With Cabot, you'll never have to pay more then you can afford. We help set up over 53,000 plans every month, we're confident we can help you too.'

Now they won't get a penny from me but can anybody on the site advise me the best way to deal with Cabot before they send this their solicitors please?, I know the debt is Statute Barred and there has never been any court action of any kind so some help and advice will be greatly appreciated.

I know that DLC/Cabot are the same company, just trading under different disguise.

Many Thanks in advance.

FSCS have on their website failed firms and Welcome Finance being one of them. They failed in 2/03/2011.

I phoned FSCS what happens when a company fails/cease trading and stops altogether. They said everyone stops and leaves.  

No one is in the office, no work takes place. Yet I don't know who has been ghostly charging me £254.64 every month from 3/12/13

to 12/6/18

PPI payment almost cleared the debt in 2018. 

I am confused. Please help.