When should I start paying to debt collector

AgentBigBoss

,Basic rule of thumb, if its defaulted, and gets assigned to a collector, you can pay the debt down if you want to.’ 

And when I cannot see default registered yet? But debt was already just passed to Wescot. Should I start talk to them or still wait and how long?

fatbelly

There is some logic in waiting for the default

Have you checked your credit files to see if a default has bern recorded

AgentBigBoss

Yes, of course. I’m regularly checking Equifax, TransUnion and Experian! No default at the moment. Creditor closed credit card account around 3 weeks ago and relatively quickly passed managing it to Wescot.

sourcrates

Are they still charging interest? 

Having an account default is not the be all and end all, if no interest is been charged there`s little reason to not pay it if you want too.

AgentBigBoss

They stopped charging interest. Well I just wanted to follow general advice on this and similar forum to start any arrangements after I know default date. And also of course to have it disappear from credit file after six years. I just feel stressed or worried in case if I wait too long and finally someone put me into ccj. But also I don’t want arrangement plan markers on my credit file in situation when I keep it 12 years instead of just wait for default.

sourcrates

Yes, AP markers are a possibility in this scenario, as Wescott are just managing the debt, they are unable to do anything but ask you to pay.

Legal action is unlikely, but should it happen, it will be pre-ceded by a "letter before action" which is a document with a 30 day return window, that allows an arrangement to be made without the need to progress to a claim.

So you will get plenty of warning if that should happen, just wait it out for now, have they actually sent you a default notice sent under sec 87(1) CCA ?

AgentBigBoss

Thank You Sir! 😎 Yes, they did sent proper default notice (sec 87(1) CCA included there) and then final demand for full amount and then closed account (at least it disappeared from banking app etc) and passed my details to Wescot. I keep checking my credit file on daily basis and no default date there yet. I guess it might appear there soon but also might not hehe cuz maybe they just wait for me to make any payment so they don’t have to default account and yes Wescot is just like repayment department for some big banks.

AgentBigBoss

Update: default registered