I recently applied for a so called "no credit check" loan, with both welcome finance and yes loans via the internet. To start off, with welcome finance, all you do is fill in a short form, asking for personall details, how much you want to borrow and how long you want to borrow it over, then as if like magic, you get a phone call from an operative, informing you that your application has been sucsessfull, and all the paperwork will be sent out in the post for you t5o check, sign and retutrn to them in believe it or not a pre paid envelope (so far so good, i thought, i will have the money for the car i wanted by next week).
So the forms arrived, i checked all the facts and figures where correct, signed it and returned it asap, as i wanted the money as quick as possible. so a week passed, and i hadnt heard anything from them (welcome finance), me being the inpatient type, rang them on a premium rate number to find out what was happening, and why i hadnt recieved my money like the advert stated-within 48 hours. i was informed that my application had been rejected by some of the companies that they deal with, how ever there was this one company who where willing to offer me the money i wanted but at a higher APR, what the hell i thought, i really wanted this car so i didnt mind paying a bit more APR than usual.
So within a couple of days i recieved a new agreement to sign and return, with this agreement however, was a letter from welcome finance instructing me to pay a sum of £49.75 for admin costs, once the payment had been recieved then i would get my loan money. So i paid the fee, and signed and sent off the agreemnent.
Over a week had passed now and i still hadnt had the funds put into my bank account. by this time i was getting very annoyed, so much for the 48 hour payout!! so i called them again, and again and again, all they did was pass me from pillar to post, finally i got put through to someone who i could understand, bear in mind that i am calling a premium rate number.
It turns out that my application had been diclined, because of my poor credit score. So i had wasted all that money on phone calls, and £49.75 on there so called admin charge, i was so angry, it was as if i had just been robbed.
There answer was that the admin charge was non-refundable wether a loan application was sucsessfull or not. So why tell me that i could have the money in the first place!!!
So my message is to all those who read this, dont have anything to do with welcome finance, they are all a bunch of robbing b£$T%Y^ds.
A similar thing happened with yes loans, they sent me a letter asking me to pay an admin charge, so i tore the letter up and put it in the bin!! so beware of this company too.
hope you all enjoy reading my post.
sorry if there any 5s or 6s any where, my keyboard is about on its last legs and when ever i press the letter "t" a 5 appears, if i press "5" a t appears, the same happens with "Y" and 6!!