Moorcroft again

davey_ham

Hi there, I'm new to the forum. Long time lurker, but have never posted before.. until now.

So, I have been out of the country the last year or so and came back to letters informing me that my student overdraft had been called in and sold on to Moorcraft. The first I knew of this was when I arrived back in the UK a few weeks ago, despite me having informed the bank that I would my primary mode of contact would be email. So my question is.. do I really have to pay the whole lot back, considering that (as far as I am aware) the 'debt recovery' agency would most likely have bought that debt for much less than the actual sum? And how does this whole affair affect my credit rating?

Many thanks in advance for your replies

D

fatbelly

Moorcroft have probably not bought the debt but are just acting as collection agents for the bank.

There may be a default on your credit file - you should check what is there.

I think the key is to engage with the bank to find out and argue against any charges they have applied and get a payment plan agreed on the amount you actually owe.

davey_ham

What's the best way of checking my credit? Sorry if that seems like a stupid question..

On my online banking the account is no longer listed and when I called the bank they said they had passed on the debt, so I should contact Moorcroft to arrange repayment with them. This is why I assumed they had sold the debt on.

fatbelly

In my opinion, the best way to check your credit file is a £2 statutory report from Experian

http://www.experian.co.uk/consumer/statutory-report.html

Dia_Pita

Hi


You can check your credit file with Noddle, this is free, just google Noddle and register with them, the basic service is free for life. You do not need to purchase any upgrades or extras.


Hope this helps.

davey_ham

I used Experian to check my credit rating following discussions with the bank. The unpaid overdraft has now been passed on to Moorcroft and the account is showing up as defaulted. So my question now is how do I go about settling it with the bank? Would the only option be through paying Moorcroft? And what lengths could a company like Moorcroft go to in order to get 'their' money?

sourcrates

davey_ham wrote: »

I used Experian to check my credit rating following discussions with the bank. The unpaid overdraft has now been passed on to Moorcroft and the account is showing up as defaulted. So my question now is how do I go about settling it with the bank? Would the only option be through paying Moorcroft? And what lengths could a company like Moorcroft go to in order to get 'their' money?

Moorcroft no longer buy debts, they just act for there clients.


Bit like a dog that cant bark really, there's nothing Moorcroft can do to you, as the bank has retained ownership.


You can ignore them completely, and the debt will be passed back to the bank, but then its likely another DCA will become involved.


Try and deal with the bank if that's what you want, up to you in the end.

fatbelly

The debt is still owned by the bank, with Moorcroft acting as collectors.

If you can afford to pay with a lump sum, why not offer, in writing, through Moorcroft, a sum in full and final settlement?

Moorcroft won't be doing anything other than running through their standard letters.

SPELLKASTER

When the debt is sold on or assigned to another for collection you should have been sent a notice or deed of assignment.

Secondly, you should check your credit file.

Moorcroft have a habit of doing unauthorised searches.

You need to ask Moorcroft for a deed or notice of assignment, if they can't produce you should contact the Financial Ombudsman Service and as for their advice.

I've had dealings with them, I should now!!

fatbelly

SPELLKASTER wrote: »

When the debt is sold on or assigned to another for collection you should have been sent a notice or deed of assignment.

Secondly, you should check your credit file.

Moorcroft have a habit of doing unauthorised searches.

You need to ask Moorcroft for a deed or notice of assignment, if they can't produce you should contact the Financial Ombudsman Service and as for their advice.

I've had dealings with them, I should now!!

It's not been sold on or assigned, and OP says they have checked Experian

Marktheshark

A notice of assignment is worthless, just a notice, they need and must have a deed of assignment and it must have wet signatures.