hi,

i have been trying to get a loan to consolidate my loans and up to now i have only been acepted by welcome finance as i have a bad credit rating, has anyone used them before just wanted  bit of feedback off what people thought of them

thanks

lisa

Lisa, Lisa, Lisa.

I'm SO glad I picked up on this before you rush into anything.

Welcome Finance are the PITS. I have used them, and in addition to the huge interest you will have to pay back, they are very unprofessional. I went to Spain for 3 weeks and accidently missed one payment of £42. When I arrived back, I found out they had told another tenant in my property how much I owe, what my minimum payments were and how much I had paid back. They told this other tenant that they should pay it back or they would be penalised in the long run. Bunch of cowboys!

I wrote to the Data Protection Registrar after numerous of unreplied complaints and I got my £750 written off.

What I'm trying to say is... unless you like lots and lots of aggro from a rip off company... don't bother. I wouldn't recommend this company. If you're unable to pay back your current loans, you won't be able to pay this one back either.

my boyfriend had a loan with them quite a while ago and never seemed to have any problems, are they really that bad?or was yours just an exceptional case?

thanks for your advice i will bear it in mind

Well, it could have been an exceptional case but it cost them dearly and also a manager their job.

Good luck!

oh dear not liking that reveiw

i have already signed and sent my documents back the money hasnt been paid into my acount do i have to right to cancel ?

Im not sure on that one. I think once you have signed the Credit Agreement and sent it back, you are legally bound. What APR are they charging you if you dont mind me asking?

You have 10 days after signing the agreement, in which to cancel, assuming you did not waive your rights. Even if the money was in your account, you can still exercise this right by writing to them, and returning the money to them.

Cooling off period

Also known as a cancellation period, under the Consumer Credit Act, 1995, you have the right within 10 days to reconsider a credit agreement (loan or credit card offer) and refuse in writing the agreement on offer without obligation. If you choose to waive this entitlement, the agreement takes effect immediately.