How to void the Menace of Wescot Credit Services

Lamour247

Hi There,

My credit rating was tip-top until about mid 2012 when i defaulted( for 3 months) on a Santander unsecured personal loan I took out in 2010 for £12,000. Before that I was paying about £413.50 per month on the loan by direct debit and never failed. As soon as i knew i was going to miss some months payment I called to let them know, and on one occasion in 2012 I increased the monthly payment to £500 to cover the 3 months i missed and get back up to date with my debt repayment gradually. I never got many calls from Santander because i made it a habit of calling the collections and recovery department in sheffield.

A few months towards the end of 2012 (Nov/ December 2012) i called to let them know i was going to miss those 2 months of payment, but by January 2013 i called back and set up a standing order from my account to pay £250 monthly into Santander bank account towards my loan. I explained that I could not afford a very large amount, and that £250 per monthly was very realistic for me to pay on a monthly basis in addition to random one -off payments
as and when i could afford. From February 2013 I have been paying £250 towards my loan by standing order.

The outstanding amount i owe is £5143.69. I was surprised to have gotten a letter from Santander today informing me that they have transferred my case to Wescot Credit Services LTD. I have called Santander to inform them that I am disgusted that they have transferred my loan to Wescot, and that I will not communicate with a third party company who might start adding charges and interests to the loan amount and start to harass me.

As things are I still have a standing order for £250 going into santander's account for my loan but I am confused as to what to do if i get a letter from Wescot. Please help. I have called Santander to complain about the letter informing me that my account has been passed to Wescot for further payment. Already my credit rating receives monthly derogatory marks as a result of this one loan account I am having problems with. I work in the financial sector and this is not good for me at all as I have been missing jobs for which a clean credit rating is required. What can I do in order to continue dealing with Santander directly?:mad:

I have not receieved any letter from Wescot yet but its only a matter of time.I want to write Santander and complain, will this make any sense or help?

lamour247

[Deleted User]

Lamour247 wrote: »

What can I do in order to continue dealing with Santander directly?:mad:

If they've sold your debt on, then nothing.

It's not going to impact your credit file any worse by dealing with Westcot than Santander. And if they've bought the debt, then you have a greater chance of making a settlement offer and getting back on the straight and narrow a little sooner.

Lamour247

ZX81....thanks for the response but.....Is Wescot not going to start adding Charges and costs? I can afford all that....I have been paying Santander a reduced amount of £250 monthly since end of January 2013

ILW

Is this correct?

You should be paying £400+ per month but are only paying £250 if and when?

If that is the case, why are you surprised the debt has been sold on and is likely to attract charges?

DevCoder

I dont see what you have to complain about, you defaulted on more than one occasion so Santander will offload that to a DCA.

Wescott can add interest & charges as long as they are detailed and itemised (and considered fair). Your best bet would be to co-operate with them and setup a payment plan (if they allow that).

For the amount of money you are talking about they could go down the CCJ / petition your bankruptcy route.

happy_bunny_2

They can sell your loan to who they like.

Are Wescot saying that they now own it or acting on behalf of Santander?

OneLife_OneShot

You had a few late payments and then were paying less than what you agreed every month.

That is a default no matter what way you look at it.

Westcot don't own the debt, Santander do, Wescot are paid by them to go after it and try and get it paid back.

It will stay say Santander on your credit report. If you pay anything to Wescot they will report back to Santander on the payment.

Wescot dealt with my o2 account once years ago and the only charge I got was a £9 admin fee which they refunded when I paid it in full.

Santander will not deal with you directly anymore because you broke your agreement with them.

Wescot were actually dead on throughout the whole thing and I found them a lot easier to talk to than o2. Not all DCA's are the devil they are just trying to do their jobs like you and me.