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Wescot credit services

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  • Wescot credit services

    Hi just want to get some info on where I stand with a debt I have. Years ago I applied for a CDL with cooperative, for an it course with advent the company tanked and took all my money leaving me out of pocket. As I couldn't complete the course and get a job I found it hard to repay my monthly instalments for the loan. It was passed onto wescot at the time I made arrangements to pay £30 a month with them.
    I have forgotten about this until recently I changed banks and they sent me a letter about missed payment. It's been over 5-6 years since I've heard anything from coop about the loan. The letter from wescot says they are working on behalf of coop bank. Should I just ignore it or contact them to setup a direct debit again?

    Thanks
    Tags: None

  • #2
    Re: Wescot credit services

    Hello and welcome.
    When was the last time you paid anything, or formally acknowledged any debt in writing?

    Comment


    • #3
      Re: Wescot credit services

      I would assume before I changed banks in September. It was automatically coming out my account and I had forgotten about it.
      I done a recent credit check and it showed my coop account is 0.
      When I made the agreement with wescot I was young and don't even know if they are legally allowed to collect for the debt.
      What shall I do as I don't want to continue paying them if I don't have to or they have no grounds to claim this money.

      I haven't heard anything from coop all these years. So seems odd I'm paying for a debt that they no longer acknowledge, going on the info from my credit check.

      Thanks

      Comment


      • #4
        Re: Wescot credit services

        Originally posted by Kafka View Post
        Hello and welcome.
        When was the last time you paid anything, or formally acknowledged any debt in writing?
        considering the circumstances what are my options?
        Thanks

        Comment


        • #5
          Re: Wescot credit services

          Can you recall how much roughly the debt was for?
          LEGAL DISCLAIMER
          Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer relationship between you and me. Some of the content I post may include example wording, letters or other similar responses or templates but they are intended for informational and educational purposes only. Using some or all of my content may fail to meet your needs that is specific to your situation and I cannot be held responsible or liable in any way so you accept that you are using it at your own risk. It is recommended that you seek independent legal advice and you can do this through the Law Society's Find a Solicitor database. Alternatively, you can contact your local Citizen's Advice Bureau for basic legal advice as well as various legal advice centres such as LawWorks. You may also be able to seek legal advice from your local university who may run a legal advice clinic to members of the public.

          Comment


          • #6
            Re: Wescot credit services

            Originally posted by R0b View Post
            Can you recall how much roughly the debt was for?
            Around 8k
            They are saying my balance is 6k now

            Comment


            • #7
              Re: Wescot credit services

              Was this loan a Consumer Credit Act 1974 Regulated loan?
              The Co-op account will show zero balance because Wescot
              had bought the debt with all the rights and obligations of the
              original agreement.

              nem
              The advice I give and draft letters provided are drawn from personal experience and career training and are given freely and without liability.

              Please make your own decisions with care and if necessary seek qualified legal advice. I will not advise by private message. If you'd like me to look at your post please tag me in your post by typing @nemesis45;.

              If you receive messages from anyone offering advice for a fee please report it to the site team.


              Animo et fide.

              Comment


              • #8
                Re: Wescot credit services

                Originally posted by nemesis45 View Post
                Was this loan a Consumer Credit Act 1974 Regulated loan?
                The Co-op account will show zero balance because Wescot
                had bought the debt with all the rights and obligations of the
                original agreement.

                nem
                It was a career development loan.
                So are they the correct people I should be paying?

                Comment


                • #9
                  Re: Wescot credit services

                  Originally posted by Rotty2309 View Post
                  It was a career development loan.
                  So are they the correct people I should be paying?
                  Ok I understand that, but was the loan agreement regulated by
                  the Consumer Credit Act 1974? This would have shown in the
                  " signature" panel on the loan agreement.
                  I suspect it was so regulated and you should now send Wescot
                  A Request made under set. 77-79 of that act to get a copy of the
                  agreement for this loan.

                  There is a £1 statutory fee for this, use a Postal Order endorsed " For Statutory Fee Only" Wescot has
                  12 + 2 Working Days to comply use the template from the forum library for this, send it by signed
                  for post and check delivery date.
                  How much have you paid so far, do you get statements?

                  nem
                  The advice I give and draft letters provided are drawn from personal experience and career training and are given freely and without liability.

                  Please make your own decisions with care and if necessary seek qualified legal advice. I will not advise by private message. If you'd like me to look at your post please tag me in your post by typing @nemesis45;.

                  If you receive messages from anyone offering advice for a fee please report it to the site team.


                  Animo et fide.

                  Comment


                  • #10
                    Re: Wescot credit services

                    Originally posted by nemesis45 View Post
                    Ok I understand that, but was the loan agreement regulated by
                    the Consumer Credit Act 1974? This would have shown in the
                    " signature" panel on the loan agreement.
                    I suspect it was so regulated and you should now send Wescot
                    A Request made under set. 77-79 of that act to get a copy of the
                    agreement for this loan.

                    There is a £1 statutory fee for this, use a Postal Order endorsed " For Statutory Fee Only" Wescot has
                    12 + 2 Working Days to comply use the template from the forum library for this, send it by signed
                    for post and check delivery date.
                    How much have you paid so far, do you get statements?

                    nem
                    They've never sent me a statement. But I have paid £1800 so far

                    Comment


                    • #11
                      Re: Wescot credit services

                      Originally posted by Rotty2309 View Post
                      They've never sent me a statement. But I have paid £1800 so far
                      When did you start paying this?

                      I'd be sending the CCA request asap.

                      nem
                      The advice I give and draft letters provided are drawn from personal experience and career training and are given freely and without liability.

                      Please make your own decisions with care and if necessary seek qualified legal advice. I will not advise by private message. If you'd like me to look at your post please tag me in your post by typing @nemesis45;.

                      If you receive messages from anyone offering advice for a fee please report it to the site team.


                      Animo et fide.

                      Comment


                      • #12
                        Re: Wescot credit services

                        Originally posted by nemesis45 View Post
                        When did you start paying this?

                        I'd be sending the CCA request asap.

                        nem
                        Years ago 2010 @ £30 a month
                        When I send the letter what am I looking for in response?

                        Thanks

                        Comment


                        • #13
                          Re: Wescot credit services

                          Originally posted by Rotty2309 View Post
                          Years ago 2010 @ £30 a month
                          When I send the letter what am I looking for in response?

                          Thanks
                          A copy of the agreement you signed for the loan and a current signed and date statement of the account.
                          If this is the loan scheme I have in mind the paperwork was crap ( being polite).
                          How did you sign up for this online, on business premises or rep visit at home?

                          nem
                          The advice I give and draft letters provided are drawn from personal experience and career training and are given freely and without liability.

                          Please make your own decisions with care and if necessary seek qualified legal advice. I will not advise by private message. If you'd like me to look at your post please tag me in your post by typing @nemesis45;.

                          If you receive messages from anyone offering advice for a fee please report it to the site team.


                          Animo et fide.

                          Comment


                          • #14
                            Re: Wescot credit services

                            Originally posted by nemesis45 View Post
                            A copy of the agreement you signed for the loan and a current signed and date statement of the account.
                            If this is the loan scheme I have in mind the paperwork was crap ( being polite).
                            How did you sign up for this online, on business premises or rep visit at home?

                            nem
                            The loan was done at the business premises if I remember correctly.

                            Comment


                            • #15
                              Re: Wescot credit services

                              Originally posted by Rotty2309 View Post
                              The loan was done at the business premises if I remember correctly.
                              I ask as many such loans were sold with little or no explanation of the costs, terms and conditions or what
                              would happen if the borrower defaulted.

                              nem
                              The advice I give and draft letters provided are drawn from personal experience and career training and are given freely and without liability.

                              Please make your own decisions with care and if necessary seek qualified legal advice. I will not advise by private message. If you'd like me to look at your post please tag me in your post by typing @nemesis45;.

                              If you receive messages from anyone offering advice for a fee please report it to the site team.


                              Animo et fide.

                              Comment

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