Quick Link: Welcome Finance

"2 ccjs and defaults"

I contacted Yes Credit and they promised me a loan, subject to me paying an administration fee of £79.00. I later found out that Yes Credit do not have the facilities to offer loans they are brokers. Today I receive a letter in the post from Welcome Finance who asked me to phone them to apply for a loan between £750.00 - £7,500. I WENT through the credit application on the phone and they said that I have been accepted for the loan subject to all my details being correct. I am now waiting for the agreement etc. in the post. I was told a loan of £4,000 over 4 yrs would cost me £181.00 per month. This works out that I will be paying back £8688.00. The company will make a profit of 4,688.00 once my loan has been paid back. I think it is very unfair due to the fact that IF YOU have suffered a financial crisis in their life should be victimised like this. However, as the old saying goes "beggars can't be choosers".  
 
I wonder if I will receive this loan once they have received all the relevant details or will they say they require an administration fee before they can release the funds. 
 
W A T C H T H I S S P A C E!!!!