Okay, let me give you some information from a different point of view. ie from a former employee with 18 years experience in the branch network. WFS are trying to collect as much as the loan book as possible in the next 2 years. Depending on how much they collect, will determine whether they keep the remaining branches open, close the branch network and collect from head office, or sell the remaining loan book and shut the company completely. The more they collect in the next 2 years, the more branches/departments will stay open. As a way to ensure cash is collected now, the board have massively incentivised this area. In the past the very generous bonus scheme was made up of a number of different criteria, with cash collected making up around 20% of this bonus. The rest was made up of many other things such as the amount of bad debt, number of customers on Direct Debit, compliance, book quality and many more. Now it is almost entirely on how much cash is collected. An Account manager can earn £1,500-£2,500 in bonus per month (on top of 18-30k per year salary) so they focus on what brings in the bonus, and right now that is collecting cash. By asking you to increase your payments or settling the account you will save money, but your account manager will benefit too. The reason you are being contacted every 60 days is that account managers are being threatened by branch/regional managers and directors to do so. If staff question anything, they will close the branch and move the accounts to another branch who will do as instructed. The direct debit was changed from the 1st to the last day purely so that the first month it was amended a double payment was made and an increased income for the branch that month. They do it many customers each month to give the income a boost. Again it helps the customer as the DD is in line with wages, but it is also a massive help to the account manager and WFS. As to the frequency of the calls, it depends on how ethical your account manager is, and whether they would rather do as the customer instructs or as their manager dictates. I would suggest seeing your local CAB and getting them to write on your behalf to instruct them to contact you in writing only. If they fail to adhere to this instructions make a note of the time and date of calls and speak to the CAB again. Finally. If you can settle the account sooner, I would recommend you do. If it saves you £100, it's £100 in your pocket and not theirs, and it will stop you having to take the above action. Hope this helps.

My thoughts. Well judging from your other recent posts, I think you have an attitude problem, a lack of manners and reluctance to pay for monies you have borrowed......

Interest is variable, but WFS have to inform you in writing 2 weeks before any interest rate change. It does say this on the back of the contract. I know a load of secured agreeements had interest rate increased, which resulted in payments increasing by around £30 per month. The reason your interest is higher than your payments is because the balance got higher in the months you missed payments. crude example - month 1 opening balance 20k, payment made = £250, Interest = £200 closing balance = £19,950. Month 2 payment missed, interest = £249, closing balnce = £20,199. from month 3 onwards you will be charged more interest. This are just rough figures. Bes thing to do is to contact the branch and ask to increase payment slightly (50 per month would be good), but in return you want interest freezing or reducing for 3 months. It's a case of scratch my back and I'll scratch yours.