Wescot debt company

SUPERGIRL2020

Quick question...

A credit card I had has been passed on to Wescot as I can't afford to pay it. I've had countless letters and phone calls from Wescot what will they do if I keep ignoring them?

fatbelly

I take it that Wescot are still acting for the credit card company. They are referring to the original lender as 'our client'?

They will work though their standard letters and then return the account to their client

Eventually the debt will be sold to a debt buyer

SUPERGIRL2020

Yes I think Wescot are acting for the credit card company. So what happens once they sell it on?

motivated

I've been working with Wescot for the past couple of years for a bank loan that they are managing.    They have been amazingly patient and supportive.    I pay them minimal payments and have had no problems whatsoever. 

SUPERGIRL2020

Thats good to know. I read online not to pay them tho as they are a really bad company to deal with 

fatbelly

SUPERGIRL2020 said:

Yes I think Wescot are acting for the credit card company. So what happens once they sell it on?

The new owner will contact you.

Lowell buy a lot - also Hoist, PRA

SoXBoX

I think there's probably horror stories about every debt collection company out there to be honest! At the end of the day the reason they exist is to chase up debt more aggressively than their clients are set up to do so without doubt they will rub the people ignoring them up the wrong way! E.g. 23 year old me! 

As soon as you engage with them I've had pretty reasonable experiences. You'll have to go through the very annoying income expenditure form initially but if you're genuinely trying to clear the debt then they will work with you. I was paying off debt in a specific way and had Lowell and moorcroft on £5 monthly payments against £1000 debts, interest free while I attacked my other debts (credit cards, payday loans) once these were cleared up I could go after the Lowell and moorcroft debts, typically when you're setting the more aggressive repayment plan up with them they'll try to upsell you to higher payments but if you're firm and polite (it's either this or we stick to the £5 a month I remember saying) then you'll be fine.

Suseka97

As has been said - Wescot manage the debt collection on behalf of Hfx and its just a business transaction to them.  They are no better or worse than any other debt collector and really nothing to be concerned about.  If you continue to ignore them your debt will eventually be sold off to a debt purchasing company and you will continue to be pursued for it.

You say you cannot afford to pay it - so do you mean you cannot afford to pay your contractual payments, but you could afford to pay something?  You can't just ignore debts completely and imagine that the DCAs will just walk away.  Of course it depends on how much you owe as to whether they will consider 'upping the ante' in terms of their collection processes and the timeframe they'll allow for it to go unpaid.

  

SUPERGIRL2020

I have a £400 credit card and have very little income and couldn't make the min payment on the card anymore

sourcrates

SUPERGIRL2020 said:

I have a £400 credit card and have very little income and couldn't make the min payment on the card anymore

Then offer a £1 per month as a token gesture.
Make sure you inform the creditors/collectors of your situation, in writing.
Thats all you have to do.
This is a very common picture.

SUPERGIRL2020

Thanks everyone