Who is Moorcroft Debt Recovery?

InDeepDebt

Been on a self administered payment plan with HSBC for a couple of years. Been getting letters off them since just before the new year advising that my credit card debt would be transferred to Metropolitan if I didn't pay up. Kept in contact with HSBC advising that I couldn't pay the full amount and that I'd keep paying my repayment amount - £30 on a £2000 debt (was £3000 when I started - made a couple of lump sum payments to it too).

Yesterday I receive a letter from Metropolitan (the first letter I've received from them) advising that they are referring my account to Moorcroft Debt Recovery Limited. So, a question or two - if I may?

Are Moorcroft a complete third party to HSBC or, like Metropolitan, are they in-house?
I actually have the money to pay the debt off (or will have next week), is it worth offering them a reduced offer of payment?

I'm a bit confused. My wife also has a HSBC card and hers went to Metropolitan in September. The thing is, she got an offer to pay 65% to get rid of the debt before it went over (which we couldn't do). Also, hers is still with Metropolitan.

Many thanks in advance

Jim

Tixy

Moorcroft are independant, 3rd party debt collectors. It could have been sold to them, or they could be just being paid to collect the debt on behalf of hsbc.

Sometimes a creditor (or in house team) will specifically make a settlement offer before they sell a debt on (or pass it over for recovery by someone else), sometimes they don't. No hard and fast rule.

I'd imagine that moorcroft should be open to a reduced full & final settlement - if you do make an offer do it in writing and get written confirmation from them first before you pay - have a look at - http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=24_full_and_final_settlement_offers
Its generally advised to start your offer really low - as you can always negoatiate to pay a bit more if you need to.