New word in my life - DEBT !!!

Tixy

Worried_Comrade wrote: »

Do you have the link for Experian form ?? as i cant seen to find it

WC

http://experian.metafaq.com/help/Statutory/Credit_report/removeotherpeople

As for the lloyds debt, usually debts are sold on to the DCA and then you have to deal with the DCA. Sometimes a DCA will be instructed to act on behalf of the original creditor, but this is unlikely in this case as I'm sure lloyds have an inhouse DCA and its not Moorcroft.

Have Moorcroft written to you yet?

Worried_Comrade

Tixy

i've had loads of phone calls from them.

i am right in thinking they'll put me on some kind of plan ?? will there be intrest on top of original amount ??

Tixy

They won't be easy to deal with (Moorcroft never are) and they'll try to demand you pay it all at once and threaten to take you to court for it.

What you would need to do is (aside from not talking to them on the phone) to write with a monthly repayment offer, saying thats all you can afford. You may be asked for an income & expenditure statement to show you are paying all you can afford.

Not sure about interest, if the original agreement with the creditor said interest can be charged (which as an overdraft it will have done) then I think that means they can charge interest - but often DCAs don't and you can always try requesting its frozen if they do start to charge it.

How old is the overdraft by the way? how long since you last used the account at all? Could it be 6years ago? Any chance the debt could be statute barred?

Worried_Comrade

Tixy wrote: »

They won't be easy to deal with (Moorcroft never are) and they'll try to demand you pay it all at once and threaten to take you to court for it.

What you would need to do is (aside from not talking to them on the phone) to write with a monthly repayment offer, saying thats all you can afford. You may be asked for an income & expenditure statement to show you are paying all you can afford.

Not sure about interest, if the original agreement with the creditor said interest can be charged (which as an overdraft it will have done) then I think that means they can charge interest - but often DCAs don't and you can always try requesting its frozen if they do start to charge it.

How old is the overdraft by the way? how long since you last used the account at all? Could it be 6years ago? Any chance the debt could be statute barred?

It was closed (by Lloyds) 07/08 so theres a bit too go yet.