Help! I got a letter from moorcrfot today. Should I call them?

Magic_minx

Help!!!!!! I got a letter from moorcrfot today. Should I call them???? I have the money to pay the full amount but I'm worried that if I pay over the phone will this cease contact from them and will my debt be cleared???? Or should I write to them first asking for a final settlement figure. I'm so confused. I just want this messy business to be over without my partner finding out-he will kill me!!! Am also worried that if I pay all of it they will then have my card details and have read horror stories of people still getting charged. I feel sick and all alone. Please advise, please

Triggles

magic-minx - always worth trying for a full and final, if that's what you want to do. Someone previously here stated they settled for 40% of the balance. Definitely offer it in writing - there are templates on the site if you do a search - so you put all the recommended stuff into the letter. Why would your partner kill you? Does he not know about your debt ?

Magic_minx

Thankyou somuch for the reply. My partner knows about my bank loans which I am good at paying monthly but silly me ignored my student overdraft for 9years and now I've been stung by hsbc and now moorcroft! Am worried that my partner will not be happy with more debt so now I must pay it. Should I ask for a settlement figure by phone? And then follow it up with a letter? Before I pay??? I just don't know the protocol and already feel very alone in this situation. Obviously couldn't sleep last night, I just want to pay it and forget about it. But I want confirmation that after payment this will be it!!!! Can I ask that from moorcroft??? Feel very concerned about calling them 2moro, I'm not very strong with people like this. But I know it's my fault and I need to deal with it. Any advise will be gladly taken. Thank you again!!!!!!

sofababe

Have you not paid anything towards this debt for 9 years?

If so then the debt is statute barred and you don't have to pay anything.

And btw, NEVER phone a DCA

Magic_minx

I used to make payments when u answered phone to hsbc!!!! And I had set up a standing order a year ago where I was paying 20quid off a month. This lasted a year. So I doubt the debt is just going to be written off if I don't call them, should we just communicate through letters? I think the initial letter has scared me, threats of Baliffs etc. Sovtgats why I was planning on calling, then putting the final settlement figure they propose in writing and then pay only when I have thus figure from them in writing. Is this wrong? Should I just propose this all in letters? I'm so confused. Just don't no what step to take first?! I can pay it, and I want this matter gone so I thought calling them asap would deal with this? Please advise. I'm confused and without help-should I write first?rather than call???? Thankyou again

sofababe

http://www.nationaldebtline.co.uk/england_wales/forms/sample_letter_e.php

Use this letter from National Debt Line if you want to offer less than the full amount. There are also letters around telling them that you only want to deal with them in writing. Next time they call just say that you want all future contact to be in writing only, and you will not be having any conversations with them over the phone and hang up.
If or rather when they call again (they're a bit thick you see, takes a while to get the message across) do not answer their security questions. When they say "can you confirm your address" etc just say "no I won't" and hang up again. They want to talk to you on the phone as its easier for them to lie and bully and intimidate you that way. You have all the power here, never forget that.

If you send a Full & Final offer, post back with their reply letter, there are people here who will check over the wording to make sure they can't chase you at a later date.

If you decide to pay in full to get it over with write to them telling them you will pay the amount of £XXX on XX/XX/XXXX by bank transfer (use the standing order info you have, or ask them for the details), and ask that they mark your credit file as satisfied immediately.

Magic_minx

Thankyou sofa babe. What you have said makes sense. I have decided to write to them offering full payment but all contact must be in writing and asking for receipt of this first letter, receipt of payment and ensuring in writing that once I have paid the debt will be cleared. It's so nasty dealing with this especially as all weekend I have been reading about how they bully people over the phone, so I really did not know which way I should approach them. I hope I will get a reply from them?? Of course I will send it recorded. Maybe I will send a couple if letters. Do you know if moorcroft normally replies in writing? And does my plan sound ok? I will go with one if the templates on here. Thank you again, don't know what I would do without this forum

sofababe

If you write offering full payment I'm sure they'll write back immediately. Moorcroft can be absolute ba$tard$ to deal with but in this case I doubt they will be difficult. A full payment is the stuff DCA's wet dreams are made of. Wait till you receive their reply before making the payment, just to be sure they don't try adding any charges or other sneaky DCA type tricks.

I'm sure it'll all go fine as you are doing what they want. Have you looked at your credit file recently? Is this debt listed? I have an old overdraft from 2002 and it doesn't show as (I assume) its more than 6 years since the default. Sign up for free to Equifax and/or Experian and have a look at your file. If this is on there ask Moorcroft to mark it satisfied as soon as payment is received.

PS Remember to cancel the memberships with Credit Reference Agencies within 30 days or you'll be charged a fee.

Magic_minx

Thankyou so much!!!!!! I will write 2moro and wait for the reply, hopefully favourable reply. It's all my own fault though so I must pay up. I won't be calling moorcroft at all though and thanks for that advise as I had been planning to call them asap not now! I just hope the matter is cleared up. I will check my credit report as I had planned to move in January as my rent clause is due, I just hope this incident does not make that difficult. Fingers x my credit history is still ok, I pay my bank loans back every month and have never fallen behind in rent payments. Suppose only time will tell. Thankyou again sofa babe, here's hoping moorcroft have a happy feeling when they get my letter-although I know I won't

sofababe

You'll feel a lot better once its done. I wouldn't think that one satisfied default on an otherwise clean credit file will affect your renting anywhere. Its probably not even on your file anymore after 9 years but if it is, just be sure to have it marked satisfied in full.
Please post back if you have anymore questions about your file or any reply from Moorcroft but I would think it'll all be fairly straight forward.
Good luck

aimingforadebtfreelife

For a debt this old it sounds like Moorcroft have bought the debt and trying to collect on the balance. Bearing in mind they would have bought the debt for about 10p per £1 if you pay back the balance in full without no questions asked they will be laughing.

Firstly as mentioned before never ever phone a DCA, they will get you to commit to a lot more.

Write a letter and if you want the matter to go away quickly offer 50% full and final. It will get accepted. I had a debt sold to Robinson Way for £1900 and I settled for £368 as they still made a profit for the short time they had it.

Good luck