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  • Welcome Finance/Coast Secured Loan - help submitting irresponsible lending complaint

    We stupidly took out a Welcome Finance secured loan in 2006 and stopped making payments around 7/8 years ago.
    We had the PPI repaid to the loan account and now we have Coast chasing us for £2300.00.
    1. The most I can afford currently is £10 a month.
    2. I believe that a lot of this balance is based on charges applied to the account
    3. I believe that we should never have been given this loan based on income and credit file
    Is it possible to make a complaint/claim for items 2 & 3 and if so how do I do this.
    I have a CD from Coast following a DSAR request but haven't yet seen what is on this.
    Any help or advice would be very much appreciated
    ???

  • #2
    Hello

    Have you sent a s77 CCA Request to Coast for this loan?

    Do you know whether this was a regulated or unregulated loan?

    Was the loan in your sole name or in joint names? You refer to “we” but I thought it best to check.

    I see it was a secured loan, but does Coast (based in Luxembourg) show as having a registered charge on your property on Land Registry in lieu of Welcome Finance?

    Are Coast threatening possession proceedings?

    Apology for all the questions, but the more information I have the better it is for me to suggest your next step.

    Di
    Legal Disclaimer

    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0330 053 9340. Our initial advice is always free.

    Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

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