Transfer of debt - Moorcroft Debt Recovery

rizla_king

Nowhere does it say it's been sold.

And Stepchange don't buy debts.

KennethC

rizla_king wrote: »

Nowhere does it say it's been sold.

And Stepchange don't buy debts.

Yes sorry about that, but presumably the op was sending regular payments through them and suddenly Moorcroft became involved, I wondered why, if payments were being made regularly and in accordance with the agreement, it would not have been passed through to them. I believe that the op has inferred that according to Moorhouse payments had been missed. Have they?

rizla_king

KennethC wrote: »

Yes sorry about that, but presumably the op was sending regular payments through them and suddenly Moorcroft became involved, I wondered why, if payments were being made regularly and in accordance with the agreement, it would not have been passed through to them. I believe that the op has inferred that according to Moorhouse payments had been missed. Have they?

Sounds as if they have been making payments.

Moorcroft would likely say they were not being paid even when they were. They are that sort of company.

Only one with staff more clueless and useless that I've dealt with are Santander.

Hanky_Panky

KennethC wrote: »

Yes sorry about that, but presumably the op was sending regular payments through them and suddenly Moorcroft became involved, I wondered why, if payments were being made regularly and in accordance with the agreement, it would not have been passed through to them. I believe that the op has inferred that according to Moorhouse payments had been missed. Have they?

Lots of reasons it could have been passed to Moorcroft from FRS, possibly due to the arrears increasing therefore another 'cycle' in arrears which means the account escalates to the next step of their strategy. Could be Argos's policy to remove accounts that aren't performing (reducing arrears i.e. paying more than the monthly instalment) from one agency to the next and so on.

[Deleted User]

Hanky_Panky wrote: »

Whilst I agree they can whistle for their £12 (unless it is allowed for in the contract)

How can it be allowed for in the contract?

The OP hasn't got a contract with Moorcroft.

KennethC

Bedsit_Bob wrote: »

How can it be allowed for in the contract?

The OP hasn't got a contract with Moorcroft.

True, but Argos may have if it has been passed to them for any of the reasons above, I don't think that we are completely in the picture. I'm still unsure how Moorcroft became involved if the payments were all in accordance with the arrangement.

Hanky_Panky

KennethC wrote: »

True, but Argos may have if it has been passed to them for any of the reasons above, I don't think that we are completely in the picture. I'm still unsure how Moorcroft became involved if the payments were all in accordance with the arrangement.

As I mentioned in a previous post - just because someone is paying an arrangement it doesn't mean their arrears aren't getting worse. For example if they're only paying £50 per month on arrangement but their contractual monthly instalment is £150 per month their arrears are increasing by £100 each month.

Lenders have lots of different strategies for how they manage debt, a common strategy is once arrears go past a certain point they will pass the account to a DCA regardless of what arrangement is in force. A lot of this stuff is automated by their collection system.

KennethC

Hanky_Panky wrote: »

As I mentioned in a previous post - just because someone is paying an arrangement it doesn't mean their arrears aren't getting worse. For example if they're only paying £50 per month on arrangement but their contractual monthly instalment is £150 per month their arrears are increasing by £100 each month.

Lenders have lots of different strategies for how they manage debt, a common strategy is once arrears go past a certain point they will pass the account to a DCA regardless of what arrangement is in force. A lot of this stuff is automated by their collection system.

Yes fully accept what you are saying, I'm still not sure that we are completely in the picture.

sickasachip13

Hi,

I don't agree with the £12 charge and we had this when one of our debts was transferred to the DCA - that said, they did drop the charge when I rang them.

TBH, on DMPs we're not usually making our contractual payments we're entering an sort of gentleman's agreement with the creditor to accept a lower payment. This does mean that creditors will at times pass on debts to others (the DCA may only manage the debt, or may buy it). Off the top of my head, about one third of our original 19 debts have passed to DCAs and Moorcroft have two of ours - we've had no problems with them. I simply changed the payment details within the online Stepchange system and the payment then goes to Moorcroft not the original creditor.

DanPaul, my advice would be to:
1. check with Argos that it has passed to Moorcroft
2. Ring Moorcroft and advise them you're on a DMP, and ask for a 30 day hold to be put on your account to allow time for you and Stepchange to update the payment details (this will avoid charges)
3. While on the phone to Moorcroft ask them to wave the £12 letter because you're in financial hardship
4. Change the payment details with Stepchange

That's what we've done when our debts have been shuffled around and we've never yet incurred extra charges, or had any problems.

It's also worth remembering that on a DMP this can be common, in fact, one of our debts has now been shuffled between 5 different organisations... I have a list to track where each debt started and its journey from there

Good luck

SAAC

KennethC

sickasachip13 wrote: »

Hi,

I don't agree with the £12 charge and we had this when one of our debts was transferred to the DCA - that said, they did drop the charge when I rang them.

TBH, on DMPs we're not usually making our contractual payments we're entering an sort of gentleman's agreement with the creditor to accept a lower payment. This does mean that creditors will at times pass on debts to others (the DCA may only manage the debt, or may buy it). Off the top of my head, about one third of our original 19 debts have passed to DCAs and Moorcroft have two of ours - we've had no problems with them. I simply changed the payment details within the online Stepchange system and the payment then goes to Moorcroft not the original creditor.

DanPaul, my advice would be to:
1. check with Argos that it has passed to Moorcroft
2. Ring Moorcroft and advise them you're on a DMP, and ask for a 30 day hold to be put on your account to allow time for you and Stepchange to update the payment details (this will avoid charges)
3. While on the phone to Moorcroft ask them to wave the £12 letter because you're in financial hardship
4. Change the payment details with Stepchange

That's what we've done when our debts have been shuffled around and we've never yet incurred extra charges, or had any problems.

It's also worth remembering that on a DMP this can be common, in fact, one of our debts has now been shuffled between 5 different organisations... I have a list to track where each debt started and its journey from there

Good luck

SAAC

Very good advice in the circumstances I would suggest.