DMP & Mutual Support Thread - Part 11

mica2

Thank you so much for putting my mind to rest! I think part of my problem is burying my head in the sand when things get too much but being able to come on here and be supported with kindness and compassion really helps me to face up to it

make_the_change

I have had three of my debts passed on; one to Moorcroft, one to ARCEUROPE and one to Apex.

Does anyone have any advice on how to deal with these companies? Have they bought the debt or working on behalf of.

I have just found out my pregnant again and am feeling really sick at the thought of dealing with this all. Something I seem to have managed to push aside for over a year now.

Thanks!

[Deleted User]

mica2 wrote: »

Thank you so much for putting my mind to rest! I think part of my problem is burying my head in the sand when things get too much but being able to come on here and be supported with kindness and compassion really helps me to face up to it

Please come on here whenever you have anything you'd like to know, or just when you're feeling 'down' and need a bit of a boost:).


I just wish I'd discovered this thread before I started my DMP. All the advice and encouragement from others has been whilst I'm on it but I'd definitely have entered into it later (with an emergency fund in place;)) rather than dive straight in if I'd been able to 'talk' to the wise people on here first.

Good Luck:beer:

abby1234519

Yay. I have a household expense of £750 to pay. There goes any partial settlements I wanted to do AND wipes out my savings

January2015

make_the_change wrote: »

I have had three of my debts passed on; one to Moorcroft, one to ARCEUROPE and one to Apex.

Does anyone have any advice on how to deal with these companies? Have they bought the debt or working on behalf of.

I have just found out my pregnant again and am feeling really sick at the thought of dealing with this all. Something I seem to have managed to push aside for over a year now.

Thanks!

I've only got experience of Moorcroft. They haven't bought our debts but are collecting them on behalf of the original creditor. Moorcroft have been fine to deal with, including when we needed to drop to token payments. As long as you communicate with them and keep them informed of reasons if you need to reduce payments they are fine.

sourcrates

make_the_change wrote: »

I have had three of my debts passed on; one to Moorcroft, one to ARCEUROPE and one to Apex.

Does anyone have any advice on how to deal with these companies? Have they bought the debt or working on behalf of.

I have just found out my pregnant again and am feeling really sick at the thought of dealing with this all. Something I seem to have managed to push aside for over a year now.

Thanks!

Hi,

If they refer to "there client" in the letters, then the debt has just been passed over, if they have bought the debt, they will tell you.

One will be no worse than any other, they all have to follow the same rules and regs, you will find it beneficial to your mind and soul if you just stop thinking about who actually owns your debts, and just keep on making your payments, at least while you have bigger fish to fry so to speak.

It will all take care of itself in the long run.

make_the_change

sourcrates wrote: »

Hi,

If they refer to "there client" in the letters, then the debt has just been passed over, if they have bought the debt, they will tell you.

One will be no worse than any other, they all have to follow the same rules and regs, you will find it beneficial to your mind and soul if you just stop thinking about who actually owns your debts, and just keep on making your payments, at least while you have bigger fish to fry so to speak.

It will all take care of itself in the long run.

Thank.

In my letter from Apex, they state they are working on behalf of, but have also said they would consider a discounted settlement figure.

I thought only debts sold on offered F&Fs?

sourcrates

make_the_change wrote: »

Thank.

In my letter from Apex, they state they are working on behalf of, but have also said they would consider a discounted settlement figure.

I thought only debts sold on offered F&Fs?

They are just managing the account then.

Creditors will from time to time, make offers to settle accounts once and for all, but dont expect a hugh discount.

The best deals, usually, are obtained when debts are sold on, yes.

make_the_change

sourcrates wrote: »

They are just managing the account then.

Creditors will from time to time, make offers to settle accounts once and for all, but dont expect a hugh discount.

The best deals, usually, are obtained when debts are sold on, yes.

Ok, obviously in the long term I want the account sold on to negotiate and F&F, how does this usually happen? How does an account get sold on?

sourcrates

make_the_change wrote: »

Ok, obviously in the long term I want the account sold on to negotiate and F&F, how does this usually happen? How does an account get sold on?

Usually by you not paying it !!!

or by making £1 token payments each month.

If you really just want to cut to the chase, then ignore the debts entirely until you get the letter from your creditor saying that they have sold on your debt, this can take up to a year, sometimes longer, but its the only way to force their hand.

But its not for everyone, if you get flappy at the phone ringing, or a mass of letters through the postbox, then dont do it, on the other hand, as long as you realize the procedures they go through, and know that these are all just steps in the dance, then its the right way to go, to get what you want.