DMP mutual support thread part 13 !!

sourcrates

natlie said:

Hi 
Help with Moorcroft please

My PayPal debt recently moved to Moorcroft my PayPal states I owe £4186.50 and the Moorcroft account states I owe £4503.10?

There are a lot of random payments in the accounts

Paypal £152.54 3 Dec and £152.54 13th Jan

Moorcroft £152.54 on the 16 Dec and £152.54 on the 12th Jan 

Moorcroft were no help at all on the chat 
Thanks 
Nat

Forget exact balances for the time being, you can always write and ask for a statement.
You say your debt "moved" to Moorcroft, have they bought the debt, or are they just acting on behalf of PayPal ?
You should have had a letter if its been assigned.

natlie

Hi @sourcrates thank you, I haven’t received any communication from Moorcroft the debt changed owner in StepChange in December 

Crazycat89

Hi All,
Returning to the forum (after locking myself out of my other account😂) and wondered if someone can point me in the right direction!
I’m now just over two years into my DMP (and once again thankful for all the support from this forum!). However my HSBC account still remains as open and they haven’t yet defaulted the account. I believe there is a letter template somewhere I can use to request that this is defaulted however despite searching (“default” is a popular term) I can’t locate it. Just wondered if someone can point me in the right direction 😁 TYVM!

sourcrates

Crazycat89 said:

Hi All,
Returning to the forum (after locking myself out of my other account😂) and wondered if someone can point me in the right direction!
I’m now just over two years into my DMP (and once again thankful for all the support from this forum!). However my HSBC account still remains as open and they haven’t yet defaulted the account. I believe there is a letter template somewhere I can use to request that this is defaulted however despite searching (“default” is a popular term) I can’t locate it. Just wondered if someone can point me in the right direction 😁 TYVM!

Well it’s easier to just write the letter yourself.
Just a few lines will suffice.
It’s pretty simple, just inform them you are in financial trouble, explain briefly how this came about, then ask them to default your account and close it.

You can give reasons if you wish, such as the sooner it defaults, the sooner your credit file will be back in some sort of order, the interest will stop, and the balance will be frozen, and this will help you to repay the balance of your indebtedness, instead of paying interest.
Job done.
 

Crazycat89

sourcrates said:

Well it’s easier to just write the letter yourself.
Just a few lines will suffice.
It’s pretty simple, just inform them you are in financial trouble, explain briefly how this came about, then ask them to default your account and close it.

You can give reasons if you wish, such as the sooner it defaults, the sooner your credit file will be back in some sort of order, the interest will stop, and the balance will be frozen, and this will help you to repay the balance of your indebtedness, instead of paying interest.
Job done.
 

TYVM! Sounds too simple, thought I may have to hit them with some legislative babble but I can certainly do the above! Thanks Again 😁

sourcrates

There is no real end date, normally for a bank account is there, so legislation doesn’t really apply.
Your simply asking them to end your relationship as the interest is too much for you, and you want to move forward with your situation.

Rud0lf

Crawling out of hiding to ask once a debt has been defaulted and sold on can I use a savings account linked to the bank I had the original debt with. I presume they can't use the right to offset once sold on. There savings account has a better rate than my nice safe bank.

sourcrates

Rud0lf said:

Crawling out of hiding to ask once a debt has been defaulted and sold on can I use a savings account linked to the bank I had the original debt with. I presume they can't use the right to offset once sold on. There savings account has a better rate than my nice safe bank.

Well I would not risk it.
Your debt was sold for a lot less than its face value, so the bank could possibly retain the right of set off under those circumstances.

Never bank where you have debts.

Rud0lf

sourcrates said:

Rud0lf said:

Crawling out of hiding to ask once a debt has been defaulted and sold on can I use a savings account linked to the bank I had the original debt with. I presume they can't use the right to offset once sold on. There savings account has a better rate than my nice safe bank.

Well I would not risk it.
Your debt was sold for a lot less than its face value, so the bank could possibly retain the right of set off under those circumstances.

Never bank where you have debts.

Thanks sourcrates, I just wasn't sure because it was sold on, I'll open one with my safe bank, slightly lower rate but my money will stay safe x

ditty1234

Crazycat89 said:

Hi All,
Returning to the forum (after locking myself out of my other account😂) and wondered if someone can point me in the right direction!
I’m now just over two years into my DMP (and once again thankful for all the support from this forum!). However my HSBC account still remains as open and they haven’t yet defaulted the account. I believe there is a letter template somewhere I can use to request that this is defaulted however despite searching (“default” is a popular term) I can’t locate it. Just wondered if someone can point me in the right direction 😁 TYVM!

I am 2 years into DMP territory and it took me a year and a half to get HSBC to default and backdate default a loan. In the end I filed a complaint. I think the Overdraft is being defaulted now, but if not then I will have to write the ombudsman. If you pay them through your DMP they won't default your account. So patience and persistence! I can't wait to pay them off, as it is smallish amounts, but I can't pay anything until my old overdraft is in default, as I don't want to risk interests or markers that just stay on my credit file for ever.