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Welcome Finance / Scam and cheating!

1 United States Review updated:

I recently applied for a loan from welcome finance, I was told that I had been accepted and the final agreement needed to be signed and sent back after a seven day cooling off period then the money would be released.Imagine my shock when I received a letter turning me down after all I had been accepted two days previous. I don't think they should tell you that you have been accepted if in fact you have not why do these companies get away with this, people think they have their finances sorted and then they are back to the start again.

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  • Mr
      30th of Sep, 2008
    0 Votes

    I have arrived at this page whilst looking for a complaints procedure to make a complaint against welcome finance in caerphilly. I totally agree with you, I have a loan, but am in difficulty. The staff make up the rules and move the goal posts for their own ends. I cannot believe how disgracfullyI was just treated. Watch this space!

  • He
      16th of Oct, 2008
    -1 Votes

    Just because you have a loan with a company, it doesn't guarantee you another loan. Many finance companies often change their lending criteria in line with the current financial market.

    If you are accepted for a loan, then turned down it could be because:

    a) you passed the credit score, but they later found out from your wage slip that you could not afford to repay the loan.

    b) you gave false information on the credit application.

    If you pass a credit score, it doesn't mean you can afford to repay the loan. I have personally had to decline loans for people who passed the credit score. They come in and either do not earn as much as they said, or have WAY too many outgoings to warrant increasing their loan with us.

    You simply aren't entitled to any money just because you pass a credit score, and legally, there's nothing you can do about it.

  • Mr
      30th of Oct, 2008
    0 Votes

    Welcome finance are I'm afraid a Company that prey on people that are in need of a loan or car, who cant get a prime lender, there interest rates are unbelievable and there procedures are just inside the law.
    However i and many believe they should be brought in line by the financial ombudsman and in my opinion shut down, we need more credit unions etc with reasonable rates to stop Companies like Welcome operating, in fact i would change there name to unwelcome finance

  • Mr
      14th of Nov, 2008
    +1 Votes

    Over a year ago I recieved a personal loan from welcome finance, by july this year I went to a Debt management company to help me sort out my financial problems, they have made an agreement with welcome to pay off the debt and have been doing so for four months now and yet welcome continue to harass me on my house phone and my mobile, this evening[14th nov] i recieved a phone call from them saying my debt management company had contacted them to ask me to sign a new credit agreement! I immediately phoned my debt management company who informed me this was a downright lie!!! How much longer will these people be allowed to prey on those less fortunate and worry them to death.

  • Al
      20th of Nov, 2008
    +1 Votes

    I took out an agreement with welcome over a year ago.i walked away feeling quite good, i got a new astra with only 8000 miles on the clock.immagine my anger when only 3 miles up the road the car broke down(after apparently being checked by one of their Expert mechanics, yeh right.)i called and called as i was continuously having problems with this car, the engine managment light would come on, go off, come on again.the car would come out of gear(automatic by the way)on roundabouts mostb of the time and on motorways(yes really dangerous right).all i was told was NOT OUR after a year of constant problems and alot of extra cost i couldnt afford a payment.i sent letters stating i was struggling and again NOT OUR PROBLEM, now im not trying to say they should let me off the payment at this point but the fact that i wasnt sherking them should of stood for something right?NO.
    i then sent letters informing them i have moved, 3 in total.never recieved anything off of them.then one day immagine my disbelief when my mother phones me up to say some guy from welcome finance has been calling her home 3-4 times a i wanna get this sorted yeh...i arrange a meeting at my local doss hole of a welcome office, i turn up as arranged and some greasy teenager that looks like he should be working at mc donalds tells me no body is expecting me...anger is by this point starting to build.ok i say can anyone else deal with me as i have just left work early for this, so he sais he will deal with it.hmm maybe this guy is ok i start thinking.once we are discussing matters my oppinion quickly reverts to what i orriginally thought! its quite clear this guy is an utter plonker.any way i sign all the relevent paperwork change of address bank details and suchlike, and am glad i finnaly have this sorted(after 6 months).HOWEVER a week later i recieve a letter at my New address stating they dont have any details of my new address(yes seriously)and are going to wack me with several charges for phone calls etc, so again im fumming, i call them up and explain to some dippy girl that a week ago i sat down with mc donalds boy for over an hour and they still cant get it right"ok then il send the documents out to yopu to sign again"she sais.and have i recieved them...HAVE I [censored].all i can say to people is please please please STAY CLEAR OF WELCOME CAR FINANCE, they are unproffesional and make the rules up as they go along.And to top it off their cars are rubbish bits of crap made to look nice with a bit of polish.i may sound bitter but not all the problems i have had are listed here, they really are in my oppinion con artists and companys like this should be ashamed to opperate this way emmploying idiots.but i suppose its the old saying, PAY PEANUTS AND GET MONKEYS!!!

  • St
      28th of Jan, 2009
    +1 Votes

    I took out a loan with WF and lost my job. I have had hand delivered letters to my home and endless phone calls which I feel are unjust and harrasssing. The weird thing is I told them from the time I would knew I would lose my job that I would find it difficult to pay them the full amount. I did, however, make them an offer, on more than one occasion, to pay what I could afford, and guess what? They refused saying the system could not accept what I offering them. Everyone Ihave spoken to tell me something different each time. I feel bullied and harrassed and worry they will come knocking on my door again. I have complained about their collection procedures but to no avail. I am now going through the Financial Ombudsman because I have also asked them for copies of my contracts to which I get no response!!! Ridiculous company who make their own rules. It's unlawful because I have checked Consumer Rights on CCA website! What they do is wrong. I have asked to have it escalated to the next department (who WF claim aren't as nice)..When I researched on the internet I was shocked as to how many people have posted complaints about WF!! I don't know what to do.

  • Ka
      19th of Feb, 2009
    0 Votes

    Hello all,

    When I carried out a research on the internet on the complaints filed against WF not to my surprise I found many as this site is only 1 of this many I discovered.
    Any way, I applied for a loan over the internet on one of these websites and by luck I got a call from WF offering me vehicle finance, now at first I thought no thanks Im ok but then they continued to call me offering me a very good offer on any vehicle i wanted. So I drove down to one of their offices in Feltham near Heathrow airport and after waiting for over 3 hours with a baby 7 months old, some Asian girl who literaly looked like anything else but a proffesional sales person kept going off and coming back with an ammended agreement so she could trick me into purchasing a car. After all that waiting I was determined to drive away with a new car and this is when the problems began. She included Payment protection and a GAP insurance onto the agreement telling me that if my car was ever a total loss, the gap insurance would cover all outstanding finance and that I would not owe a penny more. Although I was hoping and praying that after all this waiting around I would not be in that situation but still agreed to keep the GAP. This is when the problem started when 7 months later I was involved in a terible accident where I was struck from behind and my vehicle was a total WRECK more than a Loss. I got an offer from the third party insurers and the gap made a payment to clear off the outstaindg debt (so I thought) until recently. I kept the wrecked car and managed to get it repaired and had it on the road when recently and arsonist decided to burn my car, so I made a claim to my insurers to pay me the damages and to my surprise I was told by the engineer that I still had a finance debt still outstanding. What I thought so I got on the phoen and called WF. What they told me was disgusting, they insisted that I still owed them almost 5K and that gap had not paid outright. so thinking its the fault of the gap insurers i got on the phone to them and they after many phone calls(very long and costly for that matter) recieved a breakdown and it was then that they told me that they would not pay anything towards the interest on the original outstanding balance. They told me that I should of been told of this which I had no idea of as I was conned into purchasing and paying for a PP and gap. yes i used the gap but i still owed these con artists money still. Im on foot with three kids and laid off from work after taking time off sick for the stress i suffered when both my car and home was set on fire with all three of my children and family were in bed. when i called wf they out me through to the debt collections department and when i asked them why did u not notify me that there was a balance outstanding there excuse was that for some reason becasue my loan with them was passed onto the debt management team they linked the two files together so this si why i did not know until now.
    I am in the process of filing a complaint and hope that the case is resolved as i have no job, no money and have to depend on the London transport to travel around with a 2, 10 and 12 year old and make trips every day to mothers home who is disabled so that i could look after her. If there is anyone out there who could offer me advice as to how i could resolve this issue or anyone who has had a similar problem and has managed to sort it out PLEASE HELP!

  • Bi
      3rd of Mar, 2009
    +1 Votes

    This is a WARNING for any one purchasing a car with welcome finance dont do it! I am currently in the process of sending my crap car back to wf, after 3 long years of paying a very very high intrest rate on a car that is worth about 3, 000 (overall paymentt after 4yrs is 11, 550). when I bought it, do not under any circumstances get gap insurance or machanical breakdown. When you purchase a car with WF they tell u u have 30 days to cancell your GAP insurance, what they dont tell you is that after the 30 days you cant unless you pay the total amount of a 4 yr policy, I am sending my car back after paying for it for 3 yrs and WF want a further 1, 000 for insurance policies that I have taken out, also they have sent out the RAC to check the vehicle and to which I am awaing for another bill of roughly 1, 000 for wear and tear this company is mickey mouse and if they think they are getting a penny out of me well ill see you in court Crappy Finance!!!

  • Su
      28th of Mar, 2009
    0 Votes

    Please could somebody help, as I really dont know where to turn

    Of course its yet again WELCOME Finance and the bully BOYS.

    I purchased a car on Hire Purchase from Car Craft in August 2007, I paid a £1000 deposit, and the car itself was £6000, the total value of the agreement a shocking £14809.00 I have maintained all regular payments of £310.41 per month since then to the end of Jan 2009.

    My employment ended and I have no further funds to pay for the car, I am aware that I have payment protection but the Guy told me that is for redundancy only. but I have to telephone the insurance on Monday.

    I recieved a letter from Welcome saying I has missed one payment, I came home and found that the Bully Boys had somehow entered my place of residence how I dont know and let a letter on my front door, asking me to contact them, the letter is dated 26/03/09.

    This morning I am scared as I have had banging and banging on my front door, to the point, of where I am so frightened I may have to call the police.

    I telephoned WELCOME asked who these guys were he said they were from the collection department, they will hang around and not leave till they take the car away, .The car is parked on a private driveway.

    I have missed 1 payment, but the 2nd is going to be missed shortly.

    I do believe they need a court order now? as I have paid a 1/3 of the amount.

    PLEASE could someone help me...

  • Mi
      21st of Apr, 2009
    0 Votes

    We purchased a Car from Welcome Finance in Nov 2007 at which time we were told if we were to have the finance we had to take out
    Mechanical breakdown cover as we were not taking out any other insurances which we did.
    Only to be told after numerous faults and numerous calls to WF (need i say that the warranty never covers anything)our garage would not deal with them when speaking to WF after 7 months advised that we did not have to take this as it was option.(not what we were told at the time of purchasing the car). We are in the process of sending the car back, well what we thought. This company is a complete joke. We have made all 16 payments (242.00 a month) we were meant to but they say we are in arrears by 2 months how can that be if we have made all the payments, So my husband called to say he disagreed with the amount. The following day 4 weeks after they were supposed to have collected the car and still havent we had a phone call saying that we had not called the cancellation department when we clearly had, and that we had called to say we no longer wanted to cancel the car. What a complete joke no one had called. My husband then called the VT desk to sort this out and the lad on the end of the phone said that as we disagreed with the amount he took it upon himself to decide we no longer wanted to cancel the termination of the car)
    The car is a complete reck since we have had it and the staff at welcome have not got a clue. We will NOT be paying them a penny more and will gladly see them in court. Today we hae sent a letter by recorded delivery to the cancellation desk and our local office who dont have a clue and if the car is not collected by Monday the car will be personally took down to our local office and left outside. Te longer we have the car the more money thery will want. Something or somebody needs to shut this company down before they ruin anybody elses lives. NO MATTER HW DESPERATE YOU ARE DO NOT GO TO WELCOME FINANCE FOR ANYTHING.

  • Li
      28th of Apr, 2009
    0 Votes

    Hi, I have a loan agreement and hire purchase agreement through Welcome Finance. Can someone give me the address that I need to terminate the agreement through? The only address I can find is for the head office. Due to circumstances beyond my control I am having to end both agreements and am wondering, having read the above comments, what is the best way to do this. I have cancelled my card so that no other payments can be taken. The vehicle I want rid of but the problem I have is that it is out of tax as of the end of the April and I was wondering if I sent a letter terminating the contract and asking them to collect the vehicle who is responsible for the car if it has no tax? I have been given another vehicle free of HP and have had to tax it and have no money left to tax my HP car. I am a bit concerned though that Welcome may still be able to take the money from my account and it is obvious that even if you phone they don't take any notice and I cannot afford to be down by £600 just because they are wan***s. I have learnt my lesson from this company and just want rid of them and I plead with anyone even contemplating using this company or any like it - DON'T DO IT - YOU WILL BE IN DEBT FOREVER. I owe between taking a vehicle at £6000 and a loan of £5000 I owe Welcome £29000 for interest etc nearly three times the amount of the loan!!!

  • St
      12th of May, 2009
    0 Votes

    i agree that they are a complete con i applied with them they said i had been accepted all i had to do was send a copy of my drivers lisance and a waged slip and also pay a 1 off payment of £60 i paid this and then i recived an e-mail telling me they were not giving finace out as they had gone bust and if i paid yet another 60 pounds thay would pass my information on to another company but i didn't do this and it took me a good few month to recive my 60 pounds back after sending letter after letter i told them if i did not recive a refund i will take it to tradeing standards thats when i got my money back.

    just be awere of this as i went to citerzans advise and was told NEVER PAY AN ADMINISRTION CHARGE AS YOU SHOULD NEVER NEED TO IF THE COMPANY ARE LAGITAMTE.

  • Mi
      14th of May, 2009
    0 Votes

    you really want to know how much of a joke this "so called company" is, well my 8 year old nephews dad died just before christmas and he had quite a big loan and because he was in debt with other companies, WF couldnt get there money back for there loan, so what did they try to do. Yes you guessed it, tried to make my 8 year old nephew to pay for it through his dads ex wife {my sister} benefits for my nephew. now tell me how this company are still trading? JOKE thats what they are. DO NOT USE WELCOME FINANCE FOR ANYTHING YOU WILL ONLY BE WORSE OFF AND REGRET IT.

  • Cu
      30th of May, 2009
    0 Votes

    I stupidly, stupidly, stupidly took out a loan with Welcome Finance for a car that I had to buy due to a recent back operation... It was cost £7, 000... I traded in my old car which was worth £1, 400, therefore I was only taking £5, 600 across finance... I had paid off over £4, 000 of this agreement and then due to unforeseen unemployment I missed a payment... Welcome Finance rang me and said they could help me by re-financing my loan for the car and I would have smaller payments for three months... what a mistake!!! In total I will end up paying over £15, 000 for a car that is now off the road and I still owe the 'daylight robbers' over £7, 000. Oh yeah, as for the three months, it was complete lies - it's over 7 years!
    If you are considering taking a loan with these cowboys - DON'T!!!

  • Bi
      14th of Jun, 2009
    0 Votes

    I have never had a loan with Welcome FInance but did have one with Watson Finance in Scotland ( who may have been taken over by Welcome ). Anyway, my credit file now shows that I defaulted on 2 small loans which is lies. They were 3 month loans which they say I defaulted on a year later - how does this work? Anyway, I am having difficulty getting these lies off my credit file. Can anyone help? I have written to WF twice and NO REPLY. I am thinking of going to Financial Ombudsman or getting a solicitor but, will have to pay heavy, Small price to clear my name. Can anyone suggest how I can get a response from Welcome Finance?

  • Wd
      12th of Jul, 2009
    0 Votes

    took a car loan out with wf 25 months ago and was told by the sales manager in south shields that if i wanted to hand the car back after 2 years i could and i wouldnt owe any money as there was enough capital left in the car to pay the rest of the loan off, i now can not afford to keep the car anymore it is £312 per month i have wrote three letters to w f and no reply, i have have just sent another letter by reg post and still no reply my husband rang 4 time and the phone was hung up on him he finally got to speak to someone on friday, he told them what the manager said to him in south shields, and the person from wf told my husband that south shields branch has now closed down and they have no record of what he told us and informed us we have to pay the 48 payments and we cant send the car back we are worried sick went to the CAB and they told me to get in touch with consumer direct i have just e mailed them and waiting for a reply KEEP AWAY FROM WELCOME FINANCE (has anyone out there been told the same as me please let me know if you have as i am taking this further the more info the better i can fight them ) WATCH THIS SPACE

  • Mr
      14th of Jul, 2009
    0 Votes

    this company is disgrace! we took finances with them to pay for our windows 5years ago. been paying weekly on time, never missed a payment.We believed we signed the loan for 5 years and this would finish april this year. Paying weekly meant the loan would be paid of earlier as there is 12 months in year/48weeks/ but we paid 52x a year. WF stopped taking payments in january 2009 and we thought great this one is over with, we can breathe better.WRONG! mid june 2009 we get phone call of them-''you owe us £2500!'' we could not understand why but it took a month to get some answer, they stopedd taking payments in jan because we were ahead with payments but never told us. We changed bank in april and all inactive direct debits were canceled. We keep getting pathetic answers, if we ask for writen answer we waiting weeks, copy of our contract which they send was a screen print from their pc printed on half of A4 paper, where u cant see what it says...We took it to citizen advice bureau, they had a look at it and said our loan is for 10 years! we didnt sign this, why would we? paying them back twice the amount we borowed???on top of everything there is a red strike on our credit report saying we owe them for last 4 months! they didnt tell us bout this till mid june and we paid end of june 1 months instalement. They dont care what you tell them all we get is-YOU SIGNED IT, YOU PAY!!! lies lies lies.DO NOT USE THEM. we are currently complaining to financial ombudsman, hoping for some good news!

  • Li
      22nd of Jul, 2009
    0 Votes

    Can any 1 help!?!

    Took a loan out with welcome 2 years ago, my final payment is due July 29th 2009. Had a telephone call this morning stating that I have still got 18 months of £163 a month to pay them. They are a nightmare, the same lady from the Cardiff branch brings me to tears every month, I have huge amounts of interest and charges put on as well in 1 day they charged me 8 £10 payments for phone calls. I don’t know which way to turn, I am a young girl who was stupid and naive to take out this loan, I have now lost my car due to the money I owe welcome, To think of paying them another 18months is hell in my book. Also they told me the reason why I owe so much is because I missed 3 payments, I missed these payments as I was laid of, My loan agreement has Payment protection insurance that I am 100% adamant that I didn’t tick that box, but it appears to have a tick on it, if I have paid for PPI why didn’t they help me when I was laid of?!

    Any advice would be great

  • Cu
      23rd of Jul, 2009
    0 Votes

    If this loan was taken out before April 2007 then you can possibly get the loan written off completely and even get money back... especially if you have payment protection. Call Citizens Advice immediately and state your case... don't give those thieving cowboys one more penny... What are they going to do? take your car off you? They can't cause you don't have it...
    Call Citizens Advice Pronto!!!

  • Ma
      28th of Jul, 2009
    0 Votes

    i recently contacted a company in which any loans taken out before april 07, could be written off, i have had a loans with wf for over 10years, and this company said that uptill april 07 there loan agreements where more than likely outwith the law. they are bully boys nothing more than loan sharks. i am interested to know if anyone else has contacted the fos however in order to involve them you need to write your complaint to the company they are allowed i think a total of 6months to get back to you and only then will the FOS take your complaint on board. the are nothing short of cowboys who prey on people hitting hard times but when times get hard with them they force and bully you.

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