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Paying Moorcroft with a credit card?
xxsalxx
Posts: 26 Forumite
Hi All
Just wanted to get some advice - I have agreed a settlement figure with Moorcroft Debt Recovery to clear my debt with them (I have had confirmation in writing that they won't chase me further & the account will be closed once I have paid the amount). They have said I should pay over the phone as this is the quickest way to pay.
I wondered if any of you knew whether I would be able to pay it by credit card over the phone rather than a debit card? I don't entirely trust giving them my debit card details for my main banking account & I think it may be safer to use my credit card in this instance. Is anyone aware of some sort of policy they have in place which means they will only accept debit cards?
(If I can pay by credit card, once the transaction has cleared I can then pay off the full card balance straight away out of my savings account).
Any help is appreciated.
Just wanted to get some advice - I have agreed a settlement figure with Moorcroft Debt Recovery to clear my debt with them (I have had confirmation in writing that they won't chase me further & the account will be closed once I have paid the amount). They have said I should pay over the phone as this is the quickest way to pay.
I wondered if any of you knew whether I would be able to pay it by credit card over the phone rather than a debit card? I don't entirely trust giving them my debit card details for my main banking account & I think it may be safer to use my credit card in this instance. Is anyone aware of some sort of policy they have in place which means they will only accept debit cards?
(If I can pay by credit card, once the transaction has cleared I can then pay off the full card balance straight away out of my savings account).
Any help is appreciated.
0
Comments
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Why do you believe credit card would be any safer than debit card?0
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Their online payment system will take Visa/MasterCard credit cards, so presumably phone will as well?Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I am pretty sure that I read somewhere on this site recently that full and final payments could not be paid by taking out more credit i.e. loans or credit cards, and that the DCA's now have an obligation to check this. Does anyone else know about this or have I got confused ?
I can understand you being cautious and worried they might take more money. If paying by cheque is not an option maybe you could request their bank details and make an online payment.0 -
Movingon5464 wrote: »I am pretty sure that I read somewhere on this site recently that full and final payments could not be paid by taking out more credit i.e. loans or credit cards, and that the DCA's now have an obligation to check this. Does anyone else know about this or have I got confused ?
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Yes I have heard the same thing, if you pay by credit card, the debt is just been transferred to another creditor, not settled at all.
I was not aware DCA's accepted anything but cold, hard cash !!!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Seen a few times on those balliff shows credit cards being produced to settle debts,
Suppose its no difference than balance transfers?0 -
From CONC.
Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
I expect a lot of full and final payments are instigated by the debtor so there is no pressure being applied by the DCA. The bailiffs though would fall under this description in my opinion. I have seen them asking people to take money from friends and family on them shows.0
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