Wescot

Pumpkinmad

My Barclaycard has just defaulted and been passed to Wescot. What are they like to deal with? Are they good at settlement offers in the future? Aside from setting up a monthly payment is there anything else I now need to do? 

Grumpelstiltskin

Have you received a letter from Westcot?

Have you thought about requesting a CCA?

Don't be in a rush to set up a payment, wait and see what you get from them.

RAS

Wescot should send a letter with your reference number and details of the account I to which you can pay. Set up a low monthly SO for the time being.

What's your emergency fund like?

Pumpkinmad

Slowly building emergency fund but would like a bit more. They have text me to say they are taking over and I will be receiving a letter with all the information. The Barclaycard used to be a Sky credit card years ago. Definitely will do CCA request but did I read on here it’s better for the debt to have been sold on at least once before requesting it? Thank you 

RAS

Are Wescot just managing rather than buying. Do they refer to "our client"?

Pumpkinmad

Just re-reading the text it says they will be managing my account on barclaycards behalf. What does this mean?, has it not been sold on then? 

sourcrates

Pumpkinmad said:

Just re-reading the text it says they will be managing my account on barclaycards behalf. What does this mean?, has it not been sold on then? 

It means exactly what it says, Barclaycard have farmed out the management of your debt to Wescott.

So no, it hasn`t been sold, but as long as you have the default, you can engage if you wish.

Pumpkinmad

I can’t see a default on Experian but it hasn’t updated since 7th September. What other sites can I check on? Sorry, thank you!

sourcrates

Don`t be in too much of a rush to do anything, the world of debt collection moves very slowly indeed, and as Wescott don`t own your debt, nor do they have a tame solicitor in house, all they can do is ask you to set up a payment arrangement.

If you don`t they will simply return the account to Barclaycard as uncollected.

Your credit report will update in due course, the other two main CRA are Credit Karma and Equifax.

Pumpkinmad

Thank you. I take it I should wait till it properly gets sold on before thinking about a CCA request? 

sourcrates

Pumpkinmad said:

Thank you. I take it I should wait till it properly gets sold on before thinking about a CCA request? 

That legislation is best used on older debts that have been sold on at least once.

The majority of lending in recent years has been completed using digitally signed online agreements, which are much easier to store and make it easier for companies to comply with sec 77.

Sec 77 may soon be replaced under a re-boot of the consumer credit act, if the present incumbents of number 10 get their way, but for now it remains in place.