Westcot credit services

[boarsleigh]

Hi there I need some advice on behalf of my elderly father.

He took out a personal loan with Halifax in 2009, and direct debits were taken from his bank account every month until October 2011. My father hadnt even noticed the payments had stopped as he pays the Halifax a mortgage payment every month for a similar amount.

In November 2012 he received a letter from Westcot saying they have been instructed by their client to collect the outstanding debt of £14512.93. My father did ring them to dispute the letter as at no time had the Halifax contacted him about defaulting on the payment and my father had not instructed the bank to stop the direct debit. They agreed to suspend all activity on the account whilst they investigated.

On 16th January they wrote to him again and said that he needed to contact the Halifax regarding the dispute. He has rung the Halifax and been in to see them and neither want to know they told him he needed to contact Westcot. Due to 14 days lapsing Westcot will now hand the debt back to collections.

What do I do, as my father who had to close his business down and only has the income of his state pension and a couple of private pensions cannot afford to pay the whole amount or indeed the monthly payments of £450 that he used to pay. Any advice much appreciated

[FlamingParrot]

Re: Westcot credit services

First of all, he shouldn't worry about it, even a judge couldn't ask for payments you can't afford! The cardinal rule when dealing with debts, whether it's DCAs like Wescot or the original creditor, is to keep everything in writing and never, ever discuss things on the phone. He shouldn't ring them and if they ring, refusing to go through security should do the trick! If the calls continue, a letter can be sent requesting all contact be made in writing. All calls received should be logged to be able to show harassment.

Wescot is one of the most incompetent DCAs around, so there's nothing to be worried about. If he wishes to repay this debt he should do so at a rate he can afford, after all the priority debts and outgoings have been covered as well as personal expenses. Although only a court can order someone to fill out and submit an I&E form, in some cases it could work to the debtor's advantage to submit one, showing how much he can afford to pay. He should also make sure all interest and charges are frozen. Wescot will probably pass this back to the Halifax if they've failed to collect.

[boarsleigh]

Re: Westcot credit services

Thanks for that. So if I put a letter together to their office stating my fathers financial situation and what his income and outgoings is that all i need to do?

[FlamingParrot]

Re: Westcot credit services

You could send something like this:

Dear Sirs
Account No/Reference No.

My circumstances have changed somewhat resulting in my not being able to continue with the contractual repayments on this account.

I cannot now afford to the monthly payments because [I have closed down my business and I am reliant on my pension(s)] Edit this to suit. I enclose an I&E sheet which shows my total income, and the total outgoings. In view of my current predicament, would you please accept an offer of £XX per month to be reviewed in six months. If interest or other charges are being added to the account, I'd be grateful if you would freeze these so that the debt does not increase. Should my circumstances improve I'll get back in touch with you again. In the meantime, I'd appreciate it if you could send me a paying-in book / standing order form to make it easier to pay.

Thank you for your assistance, I look forward to hearing from you as soon as possible.

Yours faithfully,

The figures should be worked out so he's only paying what he can afford and not going without for the sake of repaying the Halifax! :rant:

[boarsleigh]

Re: Westcot credit services

Thanks so much you have been a great help