Wescot credit services

[Rotty2309]

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

[Kafka]

Re: Wescot credit services

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

[Rotty2309]

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

[Rotty2309]

Re: Wescot credit services

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

[R0b]

Re: Wescot credit services

Can you recall how much roughly the debt was for?

[Rotty2309]

Re: Wescot credit services

Can you recall how much roughly the debt was for?

Around 8k
They are saying my balance is 6k now

[nemesis45]

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

[Rotty2309]

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

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

[nemesis45]

Re: Wescot credit services

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

[Rotty2309]

Re: Wescot credit services

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

[nemesis45]

Re: Wescot credit services

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

[Rotty2309]

Re: Wescot credit services

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

[nemesis45]

Re: Wescot credit services

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

[Rotty2309]

Re: Wescot credit services

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.

[nemesis45]

Re: Wescot credit services

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