First Assignment Letter

KryptonMoose

Hi all,

 I've just received my first letter stating Wescot have been assigned my account on behalf of one of my loans.

I've checked the credit report and the account is showing default now, however I still haven't received an official Default letter from Tesco, just that they're passing the management of the account to Wescot.

Do I now set up a payment with Wescot as account is default or do I ignore and wait for the account to be sold?

fatbelly

If the letter says the debt has been assigned, that means it has been sold.

If is says they are passing the management of the account, it hasn't

Either way, you could start to make payments now that the default shows on your file

KryptonMoose

It reads that it's passing the management of the account to Wescot. 

I read in another thread it may be better to ignore and wait until it's sold? Will there be any repercussions if I were to do that? 

sourcrates

It doesn't matter who owns it, as long as its defaulted, you are good to go.