WESCOT Debt recalled to Natwest

DebtfreeDreaming

Hi all

I defaulted on my debts back in 2010 and have been doing self managed DMP’s with all my creditors since. I have a loan with NatWest which was being managed by Wescot. A few days ago I received a letter from Wescot re: the NatWest loan account informing me that the account is now closed - paid in full, and to cancel the standing order. (The balance hasn’t been paid) A couple of days after receiving this letter I received another from Wescot saying that the previous letter was sent in error and that there is still an outstanding balance on the account, but that it is being recalled back to NatWest.

I was wondering what people’s thoughts were on why the debt is being called back to NatWest?

Many thanks!

Suseka97

I can't answer at to the 'why' - but a number of threads have popped up on this forum recently about this. Many, like you, having received a letter from Westcot to say the account is now closed and paid in full, a huge administrative boo boo... as what has happened, so the story goes, is that the PRA group have taken these accounts over.

So I imagine you should be getting a letter from NatWest to explain the situation and/or the PRA group and you'll be able to carry on making the same payment to them, as you were with Westcot.

MottledDebt

Something must be happening with the relationship between Wescott and natwest. I have a debt on my DMP originally from Natwest which was being managed by Westcott but it has now been bought out by PRA Group

DebtfreeDreaming

Thank you both for you replies, I was unaware that other people had been experiencing the same problem. Hopefully I will receive a letter in the next few days so I can amend my payment...

Windbag66

Wescot are used as a debt management company for the big banks, Natwest will of sold a portfolio of bad debt on to PRA group, who will now either chase the debt themselves, or bring in another interloper to do there dirty work for them.