Lloyds tsb/moorcroft pre court division

joeandy

Hi i had a loan with Lloyds taken out in dec 2005.Due to financial difficulties was unable to keep up with repayments.I havent made any payments to this loan for about 18 months.Received letter from Moorcroft today notice of litigation before court proceedings are issued.They want full payment of £4600 in 7 days. I can offer £1000 in full settlement or £100 monthly. Does anyone have any idea if they would possibly accept this offer. Thanks for looking

DarkConvict

You can try, moorcroft are an outside DCA, 30% (£1500) is generally the lowest accepted, but some have go as low as 20% before.

F&F info - http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers

F&F template - http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

Go with an F&F offer first, and add in they have 14 days to reply.

If they refuse drop down to a £100 payment plan, if they goto court they will only get paid what you can afford per month anyway.

joeandy

Thanks for your quick reply.Will send them a letter then offering payment.