Rbs and wescot credit services ltd

Subiacoste

Hi all
I hope you can help me as i am getting very worried about this.
i took a £10000 loan out with rbs about 3 years ago and paid the set monthly amount which was about £220 a month. but into the second year of paying this amount i had a bad accident and was off work for about a year, so i agreed to pay £50 a month for that year while i was out of work. the loan was passed onto rbs debt management operations.
i also lost my job because i was out off work for a year and also becuase of depression due to losing my wife to cancer.
i got a new job and got in touch with rbs debt management operations and told them i could pay £200 a month (due to getting less pay from the new job) and they said it was fine to pay what ever i wanted to pay them but i continued to pay them £200 a month.
I rang debt management about a month ago to see how much i still owed them and was told it was £6500 so i have paid of a big amount of the original loan and will still continue to pay the £200 a month untill the loan is paid.
but this morning i recieved a letter from Debt Management saying the following

changes to the ongoing management of your loan repayment plan
We're writing to advise you that we have partnered with Wescot credit Services limited who will now manage the remainder of your plan.
what you need to know
your plan amount remains unchanged
please continue to maintain your existing payments to us
Wescot credit services limited will be in touch in the next 14 days

I am worried that the loan amount is going to sky rocket with Wescot with them adding charges to the amount. i also own my house and in full time employment.
any help would be a appreciated thank you

Smodlet

Hi,

I hope you are now recovered from your accident and am very sorry for your loss.

This may or may not be any help at all but did you have PPI with this loan and if so, was it miss-sold? I have a feeling it is now too late to claim it back but I may be mistaken about that. People are still posting about it on here.

As far as I know, Westcot and the like have some kind of regulation which says that, once you have agreed a payment plan, they cannot pressure you to pay back more than the agreed amount but I totally take your point about their adding on fees. I do not know the answer to this but someone will be along who does. With luck sourcrates and fatbelly, who are brilliant at this stuff and very kind and helpful.

Smodlet

jonesMUFCforever

If the loan was taken out about 3 years ago there will not have been PPI on it.

Dobbibill

The fact that it has been moved onto Wescot now just means that RBS have sold the debt on, so effectively moved from their internal debt recoveries to an external debt recovery.
Don't worry, for you it just means you are paying them instead.

Request a breakdown of the debt. This will show how much they are/have added in charges and will give you reference point as you continue with payments.

Have you checked your CR to see what has been reported? It will probably be showing as AP [arrangement to pay] due to you paying a different amount from the original agreement.
Checking all 3 CRAs is best.