Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • lollybabe
    • By lollybabe 19th Apr 17, 9:17 PM
    • 38Posts
    • 11Thanks
    lollybabe
    Help please. PPI Cahoot/Moorcroft
    • #1
    • 19th Apr 17, 9:17 PM
    Help please. PPI Cahoot/Moorcroft 19th Apr 17 at 9:17 PM
    Hi,
    I completed the resolver form regarding a Cahoot loan. Cahoot are now dealt with by santander so they have written back to me.
    They have offer 765 but said that as I have a balance on the account that amount will be put towards that meaning I'll receive 0.
    Here is my confusion - I received a CCJ for This account ten years ago. I made my monthly payments without fail as per the ccj and continued making the payments even after they sold the debt to moorcroft. I still pay an amount each month to Moorcroft.

    My query is, how can Santander think I have a balance with them now? I've been asked to provide proof that Moorcroft had the debt sold to them (all I have is my standing order letter and a copy of the court statement re the ccj)

    Not sure what I need to do now. Obviously I'd live the 765 to come o myself but it appears it will go to Santander to reduce a Cahoot balance that they don't have anymore as it was sold to Moorcroft!?!?

    Any advice gratefully received!
    Thanks
Page 1
    • zx81
    • By zx81 19th Apr 17, 9:20 PM
    • 11,586 Posts
    • 11,582 Thanks
    zx81
    • #2
    • 19th Apr 17, 9:20 PM
    • #2
    • 19th Apr 17, 9:20 PM
    Was it sold to Moorcroft or were they just assigned to collect the debt?
    • lollybabe
    • By lollybabe 19th Apr 17, 9:38 PM
    • 38 Posts
    • 11 Thanks
    lollybabe
    • #3
    • 19th Apr 17, 9:38 PM
    • #3
    • 19th Apr 17, 9:38 PM
    I was told at the time it was sold to another company (whose name escapes me) and then it was sold onto Moorcroft
    • Nasqueron
    • By Nasqueron 19th Apr 17, 10:37 PM
    • 4,181 Posts
    • 2,316 Thanks
    Nasqueron
    • #4
    • 19th Apr 17, 10:37 PM
    • #4
    • 19th Apr 17, 10:37 PM
    If you had any money written off, including interest, then quite rightly the bank is offsetting the refund against the money you didn't pay back, the fact the debt is in the past doesn't mean it doesn't exist, just that the bank agrees not to chase you any more. You can't expect to borrow money, not pay all of it back and then ask them to give you more.

    If you could prove the bank actually sold the debt on without any possibility of recalling/buying it back then technically you might get away with trying to claim it belongs to you but morally the money belongs to the bank
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

220Posts Today

1,910Users online

Martin's Twitter
  • The strange thing with a 4yr old is having to play & smile while inside feeling sick for those in trauma in my birth town #Manchester

  • Just a quick ta-ta for now. I'm taking the week off for family time with mini and Mrs MSE. So I won't be here much. Back after the bank hol

  • Ugh another one trying it! Beware https://t.co/Ab9fCRA76F

  • Follow Martin