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Barclays business loan transferred to westcot


queens
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Hi,

 

 

I was hoping for a little help and advice please..

 

 

.. In 2009 I took out a Business Loan from Barclays for a business debt of £20,000.

 

 

I have an signed Agreement and have been paying £230 per month ever since.

 

 

I have never missed a single payment.

 

 

Today I received a letter from Barclays saying that the debt had been transferred to Westcot

and to contact Westcot to make arrangements to continue payments but this time direct to Westcot.

 

I rang Barclays to see if I'd ever missed a payment and why it was going to Westcot,

the lady was helpful and said I had never missed a payment but Barclays had sold a lot of accounts to Westcot....

 

My question is this,

I know and have read about Westcot and I do not like what I have read and I don't trust them .

 

 

I was happily paying off this loan and now this is tainted for me as I know where this will head...

 

 

. CAN I DEMAND THAT BARCLAYS KEEP MY ACCOUNT AS I HAVE NOT DEFAULTED

AND THERE SEEMS NO REASON WHY IT SHOULD HAVE GONE TO WESTCOT?

 

Many Thanks for you time in advance.

Q

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simply ans is no.

 

 

have you all the statements?

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi,

 

 

I was hoping for a little help and advice please..

 

 

.. In 2009 I took out a Business Loan from Barclays for a business debt of £20,000.

 

 

I have an signed Agreement and have been paying £230 per month ever since.

 

 

I have never missed a single payment.

 

 

Today I received a letter from Barclays saying that the debt had been transferred to Westcot

and to contact Westcot to make arrangements to continue payments but this time direct to Westcot.

 

I rang Barclays to see if I'd ever missed a payment and why it was going to Westcot,

the lady was helpful and said I had never missed a payment but Barclays had sold a lot of accounts to Westcot....

 

My question is this,

I know and have read about Westcot and I do not like what I have read and I don't trust them .

 

 

I was happily paying off this loan and now this is tainted for me as I know where this will head...

 

 

. CAN I DEMAND THAT BARCLAYS KEEP MY ACCOUNT AS I HAVE NOT DEFAULTED

AND THERE SEEMS NO REASON WHY IT SHOULD HAVE GONE TO WESTCOT?

 

Many Thanks for you time in advance.

Q

 

Same here queens, have a similar thread open so will look out for your updates. Good luck!!

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Hi Queens and welcome to CAG

 

If the amount you've been paying was as per the original loan agreement and all payments have been made on time, I don't know why Barclays have sold the a/c.

 

However, I see no reason why you cannot maintain the required payments without consequence.

 

Have a look at the advice in this post which concerns another Barclays loan that's been sold to Westcot - http://www.consumeractiongroup.co.uk/forum/showthread.php?450692-Westcott-chasing-Barclays-business-Loan-with-per-guarantee&p=4778849&viewfull=1#post4778849

 

You could seek independent advice from Business Debtline.

 

:-)

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Would it not look bad on a credit report if an active and up to date loan is sold/assigned to a known Debt collector ?

 

I would be wanting assurances that this would not have an adverse effect on my credit history !

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Thank you so much for all your replies. Yes I have statements and the lady at Barclays also confirmed to me that I hadn't missed any payments, that's why I found it so odd. Barclays said that all would remain the same regards the agreement - it's just I have major doubts about Westcot . With regards the credit rating I will ring the Business Debtline and ask for advice. And MM I hope you get to the bottom of yours too. Q

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Hi Queens,

 

Let us know what The Business Debtline folk say.

 

I'd also be inclined to write to Barclays Head Office and simply ask why the loan has been sold off to the likes of Westcot when you are, and always have been, fully up to date with loan repayments.

 

Use RM Signed For delivery and use this address -

 

Barclays Bank PLC

Head Office Customer Relations

1 Churchill Place

London

E14 5HP

 

:-)

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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Just an update.

 

 

.. I have spoken directly to Barclays

 

 

they have informed me that the debt has NOT been sold on to Westcot,

but that the debt is being "managed" by Westcot on behalf of Barclays.

 

 

According to Barclays they use Westcot as they have "longer opening hours and for use of their customer services" .

 

 

Terms of the original loan remain the same and the debt is still with Barclay,

Westcot cannot make changes to the original agreement :-)

and I had not missed a single payment.

 

Thank you all for your help and advice it has been much appreciated.

Q

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ho ho that's wetcloths for you

 

 

anything to make money out of the unknowledgeable ones...

 

 

like all no powers DCA's they do try and fleece you.

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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