Help please. PPI Cahoot/Moorcroft

lollybabe

Hi,
I completed the resolver form regarding a Cahoot loan. Cahoot are now dealt with by santander so they have written back to me.
They have offer £765 but said that as I have a balance on the account that amount will be put towards that meaning I'll receive £0.
Here is my confusion - I received a CCJ for This account ten years ago. I made my monthly payments without fail as per the ccj and continued making the payments even after they sold the debt to moorcroft. I still pay an amount each month to Moorcroft.

My query is, how can Santander think I have a balance with them now? I've been asked to provide proof that Moorcroft had the debt sold to them (all I have is my standing order letter and a copy of the court statement re the ccj)

Not sure what I need to do now. Obviously I'd live the £765 to come o myself but it appears it will go to Santander to reduce a Cahoot balance that they don't have anymore as it was sold to Moorcroft!?!?

Any advice gratefully received!
Thanks

[Deleted User]

Was it sold to Moorcroft or were they just assigned to collect the debt?

lollybabe

I was told at the time it was sold to another company (whose name escapes me) and then it was sold onto Moorcroft

Nasqueron

If you had any money written off, including interest, then quite rightly the bank is offsetting the refund against the money you didn't pay back, the fact the debt is in the past doesn't mean it doesn't exist, just that the bank agrees not to chase you any more. You can't expect to borrow money, not pay all of it back and then ask them to give you more.

If you could prove the bank actually sold the debt on without any possibility of recalling/buying it back then technically you might get away with trying to claim it belongs to you but morally the money belongs to the bank