Statement of Account from Debt Agency

chump

Hi,

I have been paying a debt that was originally a Default to Moorcroft Debt Recovery for several years now. Although the balance is dropping I have always thought that there may be some irregular accounting issues that may have 'bumped' up the overall debt without me knowing such as hidden charges etc.

Am I within my rights to request a FULL statement of accounts from the day that they took over the account from the creditor highlighting all charges, interest and other entries?

I just wanted to check before I requested it. I guess if I am then I shouldn't be charged for it?


Thanks
Marc Mann

janiegs

My guess is that they'll be taking commission on whatever you pay too - that may be why your debt isn't reducing as much as you think.

Donedoingdebt

I think you're perfectly within your rights to ask for this. Approx. 5 years into my DMP, I made the same request to the 4 DMCs that I was dealing with & they all responded ok without charging. They were Blair Oliver & Scott, Wescott, BLS collections & Robinson Way & co.

bev79

That's a really good idea. Will also let you see if you can reclaim any charges! I'm with Payplan, I think I'll do as you say!

greytdog_2

i may be naive but i thought that when an account was passed to a DCA they just deducted your payments like the original debtors would and didnt charge for the priveledge? Is this incorrect? I have been advised to hold out on agreeing some of my own debt so that they get passed to DCA as my advisor told me that they are better than the original people (banks/creditcards) you owe money to?

Donedoingdebt

Quite often this is the case. In a lot of cases they will agree to stop charges & freeze interest. BUT, they are under no legal obligation to do so & there are some DCAs out there that will try & wring every last penny out of you. I hope your advisor is of the non charging type, ie CCCS, Payplan or CAB etc.

chump

update on this thread from a few months back.

i got a statement of accounts from Egg and it seems that the DCA (Moorcroft) have been paying them with the money that I have been paying back every month for several years.

The thing that made my heart sink was seeing the interest charge for £3500 at the bottom of the statement.

It would seem that Moorcroft never stopped the interest on the account from when they took it over (and I thought they had!) and it is nicely added on at the end of the statement as a huge lump sum.

I feel totally shafted. I have been paying them back without failure for years to clear this debt only to find this bomb shell.

Any ideas where I stand legally. I guess no leg to stand on....

Marc

sammy115

Was this for a loan or a credit card. If it was a credit card surely they would have to account for how the interest is worked out and can't just lump it onto the bottom. I would ask for a breakdown of how it was calculated.

I would be really p****d off if it was me, and would challenge it greatly. Maybe the https://www.consumeractiongroup.co.uk has some knowledge of the problem, try over there.

chump

Thanks Sammy - it was for a loan. i have posted over on that site. We'll see if i get anywhere. I'm guessing (judging by Donedoingdebt's comments) I'm not going to see this money back....:(