Letter from Westcot - Co-Op Career Development Loan

sweetdee

Hi everyone


I've just got a letter from Westcot advising that they've taken over my career development loan debt. I had been paying it off at £90 per month through Stepchange for almost a year and thought everything was in order. This letter (and two automated calls to landline and mobile) is the first I've been made aware of it - Co-Op didn't let me know it was happening.


I just wanted to ask if anyone could advise what I should do next? I've read some of the threads here about sending a letter for proof, is this something I could try? Or should I contact the bank first? Does the fact that the bank didn't let me know give me any leverage?



Also, I've logged into my loan account to see that the full amount has been cleared and it's at zero. Does this mean Westcot has bought the debt or is this just what happens when they manage it?


Apologies for all the questions!

MottledDebt

Are you in a debt management plan with Stepchange? if so, just forward them the letter and continue to pay the £90. Stepchange will just send it to Wescot instead of Co-op.

I had a debt that got passed to Westcott and that's all I did, haven't heard a peep from them since they started getting the money

sourcrates

sweetdee wrote: »

I just wanted to ask if anyone could advise what I should do next?


Apologies for all the questions!

Hi,

Nothing has changed, Wescot only manage client accounts, they do not buy debts, a quick look at there website would tell you as much.
You simply inform stepchange and continue your £90 payment.


Companies do not have the resources to mange bad debts for long periods of time, so they get farmed out to debt collectors to manage on their behalf.


Its a very common practice.