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Lloyds TSB
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Bedsit_Bob wrote: »If Lloyds have sold the debt to Moorcroft (as opposed to merely employing Moorcroft to recover it for them), then he doesn't owe any money to Lloyds.
The debt has not been sold. He rang the PPI helpline to day and they confirmed they are sending him a cheque for £2800. I guess they are separate departments and don't talk.0 -
The debt has not been sold. He rang the PPI helpline to day and they confirmed they are sending him a cheque for £2800. I guess they are separate departments and don't talk.
That's correct, two separate issues here !!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 -
Well he received the cheque and wrote to Lloyds/TSB offering £2000. Today he got a letter from Moorcroft rejecting the offer but asking for a financial breakdown (they have sent a form for him to fill in) and saying they can advise there client once they have those details. It sounds to me as though they might settle if he proves he has no real funds, but he is a very private person and does not want to disclose the details he would have reveal, such as his income and savings. What would others advise?0
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Well he received the cheque and wrote to Lloyds/TSB offering £2000. Today he got a letter from Moorcroft rejecting the offer but asking for a financial breakdown (they have sent a form for him to fill in) and saying they can advise there client once they have those details. It sounds to me as though they might settle if he proves he has no real funds, but he is a very private person and does not want to disclose the details he would have reveal, such as his income and savings. What would others advise?
He doesn't have to disclose anything to them, all he need do is say he has x amount of money from a PPI claim, and he wants to settle his indebtedness to them once and for all, his income is illelivant as he can't afford to pay anymore on a monthly basis.
This is a one time "take it or leave it" offer.
If they still refuse, ignore the debt until it gets sold on, I can almost guarantee the new buyer would settle for a lot less.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 -
Thanks that was my thoughts. The letter we sent said as much "I have no money other than this, take it or leave it!" Will draft a reply giving them the final offer and 7 days to accept.0
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