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nickd
Junior Member

11 Posts

Posted - 20 Oct 2015 :  19:59:09  Show Profile  Reply with Quote
hi I am in a dmp with payplan and have 3 creditors.One of the creditors is welcome finance and I have read they have gone bust. Does anyone know if this is true and if it is what happens?

NP DRURY

Debt Management Advisor
Debt Management Expert



366 Posts

Posted - 22 Oct 2015 :  15:01:25  Show Profile  Reply with Quote
Hi nickd.

I know nothing as to whether this firm has gone bust as you suggest. Their website continues to operate, but it contains a message that they're not offering new loans. The message also advises that existing customers should carry on making their repayments.

As a general point not specifically related to this firm, if a lender's business fails it's likely that another firm will purchase their assets. One of their assets will be the debts that are owed to them. The new firm would then typically seek to make arrangements to recover what is owed.

I am a CertDR qualified Debt Advisor. I advise on all of the available UK debt solutions. For advice on all of your options please click here:
   
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