"What do you expect?"
A review of Welcome Finance by AM730 - Tuesday 24th of July 2007
Welcome Finance is a sub-prime lender - lending to those who have had the door shut on them time and again. They give a chance to people when everyone else has said no. It is a risk for them. You pay for that risk initially in interest rates. But, if you maintain good payments your credit DOES improve. This means that they can offer you better rates or gives you the long-term flexibility to shop around because suddenly companies will want you knowing you can actually be financially responsible.
The kind of people who do not like Welcome Finance are those who who have screwed the financial system all their life and see Welcome as another opportunity to do the same. Welcome will collect your payment in the long-run even if you think things have gone quiet. If you are in difficulty, you should pick up the phone to them - the problems arise when you bury your head in the sand - all you end up with then is a sandy head...
Choose carefully when considering a Welcome Loan. If you fully intend to pay every last penny back and accept that missed payments come at cost (just like any bank), take a loan with them. If you're thinking of scamming the system, choose another company - they are wise. Without going into detail I work in finance, have done so for many years and can assure you that Welcome is a reputable company versus many in that market sector who simply are not.
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