What To Do If You’ve Been Contacted By Wescot In Relation To Your Debt
Wescot Credit Services Limited is a debt collection agency which works with a range of UK organisations, including all the major banks, as well as credit card providers, energy companies, telecoms and others.
- Wescot Credit Services Ltd is authorised and regulated by the Financial Conduct Authority.
- It is a registered firm with the Lending Standards Board and adheres to the Standards of Lending Practice.
- Wescot Credit Services Limited is a member of the Credit Services Association (CSA).
- It is accredited to the BSi ISO 9001:2008 quality standard.
Why Have I Been Contacted By Wescot?
If you’ve had communications from Wescot, it is in connection with a debt you have. Your account will have been passed to Wescot by your original creditor – your bank, credit card provider, utilities company or another organisation. They have asked Wescot, a debt collection agency, to collect the debt on their behalf.
What Will Happen If I Don’t Respond To Wescot?
If you ignore Wescot, they won’t go away. They will continue to attempt to contact you to discuss your debt, both in writing and by phone. Your creditor may decide to take further action against you to recover the money you owe if you don’t respond.
But I Can’t Afford To Pay?
If you are struggling to manage your finances and can’t afford to repay, you should discuss your situation with Wescot. By explaining your circumstances, you may be able to agree a payment plan with affordable monthly repayments.
You might be able to agree a payment plan to repay your debt by instalments, but before you enter into any arrangement, you must ensure you can afford it. Use a budget planner to calculate your disposable income (the money you have left of your income, after paying all your bills and living costs).
If you’re receiving communications from Wescot about your debt and you are feeling stressed out, ask for breathing space. Wescot can give you 30 days’ respite from most letters and calls, to allow you to seek advice on your situation.
Seeking Debt Advice
Scottishtrustdeed.co.uk can work with you to reach a solution for your debt problem. Our advisors are experienced debt specialists, on hand to listen to your circumstances and talk through your options. As well as providing general advice and assistance, we could help with one of the following:
- Debt Management Plan
- Debt Consolidation Loan
- Individual Voluntary Arrangements
- Scottish Trust Deeds
- Debt Arrangement Scheme
- Minimal Asset Process
What Can A Debt Collection Agency Do?
A debt collection agency has no special legal powers and can only do the same as the original creditor: contact you to ask you to pay you debt. Debt collection agencies use a variety of contact methods to get in touch, including sending letters, emails, text messages and phone calls.
In some instances, you may be visited at home, but it’s important to remember that a debt collection agency is not the same as a bailiff.
I Don’t Want To Keep Receiving Phone Calls
Wescot must take your contact preferences into account, so you can prevent unwanted phone calls by requesting that all contact is put into writing. Wescot are not allowed to harass you with numerous calls, or by phoning at unreasonable times.
How Will My Credit File Be Affected?
Information relating to your debt stays on your credit file for six years from the date of the original default with the creditor. Lenders will use the information on your credit file to inform their lending decisions and decide your creditworthiness.
You may find it more difficult to get credit if your credit record shows you have a poor credit history. Your file will, however, be updated as you repay and the effect on your credit rating may lessen as time passes.
What Will Happen If I Don’t Pay?
If you don’t manage to repay what you owe or make a payment arrangement, your creditor might take further action against you. Your credit might take you to court to get a County Court Judgement. County Court Judgements can be enforced in a number of ways to recover the money owed, including:
- An attachment of earnings
- Bank arrestment
- Charging order
- Removal of goods by bailiffs
If you feel that Wescot have mishandled your situation and wish to make a complaint, you can write to them at the following addresses:
Customer Relations Team
Wescot Credit Services Limited
If you are still unhappy after Wescot have issued you their final response, you can escalate your complaint to the Credit Services Association or the Financial Ombudsman Service.
Credit Services Association, 2 Esh Plaza, Sir Bobby Robson Way, Great Park, Newcastle Upon Tyne, NE13 9BA.
Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London, E14 9SR.
Will unpaid debt affect my credit file?
Yes. Lenders will be able to see your credit history when they check your credit file, including details of late or missed payments. It will have a negative impact on your credit score if you have a poor repayment history. Your credit record will be updated by the Credit Reference Agencies as you make repayments.
Can I repair my credit rating?
Yes. Your debt may have had a negative impact on your credit score but defaults and CCJs will be removed after six years, and you can take steps to show you have turned over a new leaf and learned to manage your finances better.
I’m vulnerable – what can Wescot do?
If you are vulnerable, you should let Wescot know. They can still continue to chase you for payment, but must take your circumstances into account and behave appropriately and sensitively. Vulnerability covers a wide range of circumstances, from mental health problems and learning difficulties to recent relationship breakdowns or bereavement.
Services Offered By Wescot Credit Services: Business to Business Debt Collection, Tracing, Utility Debt Collection, Consumer Regulated Debt