We receive frequent enquiries from Homeowners who have received letters and calls from Coast Financial Solutions. In a number of cases, the Homeowner shows no recollection of taking out a loan with Coast Finance. We’re here to help with the confusion surrounding these loans.
With the eviction ban having ended on 31 May 2021, we expect Coast Finance to apply for possession on a lot of Homeowners over the coming weeks and months. We can help. Get in touch with us today for advice on Coast Finance repossession orders and we’ll guide you through the process to stop eviction.
Who is Coast Finance?
On 2 March 2011, Welcome Finance Services Ltd. went into liquidation and all debts were subsequently subsumed by a company called Coast Financial who are administered by Target Serving Limited. This means that any loan created with Welcome Finance Services has been transferred to Coast Finance who may be actively pursuing repayment.
It is important to note that HMS are NOT Coast Finance. We help you stop repossession at the hands of Coast Finance.
Are they allowed to do this?
Coast Finance will have bought Welcome Finance Services at a significantly discounted price. Having secured the debt, they are then able to enforce loan repayment to recover the full outstanding balance and secure the company a substantial profit.
What if I thought my loan had been written off?
This is the case for many Homeowners. Alongside the liquidation of Welcome Finance Services, many Homeowners received no contact about the changes to the company and have subsequently made no payment for 6 years. It therefore comes as sad and difficult news that Coast Finance are actively pursuing repayment of previous loans.
Who is Target Group?
Based in Luxembourg, Coast Finance has outsourced the administration of their loans to a UK based company called Target Group.
How do I contact Coast Finance or Target Group?
If you are looking to contact Coast Finance to find out about your loan, you need to contact Target Group on 0845 650 6200.
If you are looking specifically for the arrears management team at Coast Finance, please contact them on: 0345 848 0309
Mon – Thursday 8 am to 8pm
Friday 8am to 6pm
Saturday 9am to 2pm
How can HMS help?
With the Covid-19 eviction ban having ended on 31 May 2021, we anticipate that Target Group will apply for possession of a lot of Homeowners on behalf of Coast Finance over the week/months following 31 May.
Target Group will aim to recover the full outstanding balance for coast finance. If not defended correctly, you will be repossessed.
Our experienced team at HMS have adopted a number of successful strategies to stop repossession by Coast Finance. Each strategy is unique to the individual case and the stage of action. For specialist advice specific to your circumstances, please contact us today.