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Welcome Finance Says We Had a Loan We’ve Never Had. – Sharon

“Dear Jon,

Secured loan taken out between my husband and I and Welcome Finance in 2004 (60 months) £14488.64

No proper paperwork issued only insurance policies (which were not requested)

Wanted to get settlement figure in 2008. Welcome did not have paperwork on file but said we had a loan for over 120 months!!!

Took it to FO who said we should close old loan and reopen new one minus all PPI’s be repayed for PPI’s with 8% interest plus £250 compensation.

Welcome sent new paperwork through but we asked to meet in person before signing anything as we were not happy with the figures.

Since then we have never been able to sit with anyone to talk to. then they just passed the debt to agencies who have been bothering us.

I did take a call recently and told the “solicitor” I was speaking to, that I was sick of it and that Welcome are crooks and that they can take us to court!! so they may have me recorded ranting on the phone.

Do we have a legal obligation to deal with these agencies as we have no contract with them.

Welcome scammed us and have no paperwork to prove the agreement.

Please can you help me send a letter to get rid of these debt collector’s or should I just wait for them to take legal proceedings?

Kind Regards


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The Answer

Dear Sharon,

From what you have stated it appears you may be dealing with more of a legal matter and as such you may wish to seek advice from a solicitor.

You could also go back to the Financial Ombudsman and get advice from them as they had previously been involved with the case and have a more intimate understanding of what has occurred.

My concern would be that you mentioned it is a secured loan, and if they take you to court, and they are found to be in the right, (which would mean they would need to show documentation for the loan), they could look at forcing repossession; although if you have a mortgage or primary loan on the property, depending on your equity position this may be difficult for them to do.

Speak to the FO and possibly a solicitor let me know what you find out.


Welcome Finance Says We Had a Loan Weve Never Had.   SharonJon Emge is an experienced UK debt advisor who has helped thousands and thousands of people in the UK to deal with problem debt. Jon specialises in finding good solutions for problem debt using a variety of UK specific techniques.

If you have a question you’d like to ask about how to get out of UK debt, just use the online form. I’m happy to help you for free.

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