CRS / The Money Shop

Lamplighter

Hi there

I took a £1,500 loan from The Money Shop in 2016 (Instant Cash Loans t/a Tms Online), paid 3/12 instalments then stopped as my circumstances changed.

It's sitting with "In Arrears" status on my Equifax credit file, but not as I'm aware formally defaulted.  I'm aware that ICL / TMS is in liquidation, and I didn't make any claim for possible irresponsible lending as I had this open balance with them.

I've been receiving emails and texts every 2-3 weeks from Credit Resource Solutions about this liability, inviting me to contact them to make an arrangement or "come to a suitable resolution".  These have been marked as "urgent attention required" for many months, and I have steadfastly ignored them for the time being.

Today's email states "Our client has now approved your account for Legal action" and threatens the possibility of a CCJ.

I'm minded to continue to ignore, and wait for their next move.  I'm unsure who actually is their client, if indeed they have one, nor who would be the claimant in any legal matter, nor indeed what they would claim.  I also don't know why the account isn't registered as a default, nor why their urgent threats haven't actually moved anywhere in over six months.

From a credit file perspective (although this is less pressing as I have several other issues), I guess the only way to remove the account in arrears is to pay it off, but with ICL in liquidation, I'm unsure who actually has the authority to update the account status with the CRAs.

Advice welcome and would be gratefully received on any of the above.

Thanks

sourcrates

I beieve the administrators are trying to claw back as much outstanding debt as possible, standard ramp up the threat emails are par for the course, if you get an LBA in the post, then that would be the time to deal with it.

Lamplighter

Thanks Sourcrates
Would this imply that the debt still resides with ICL, albeit in administration / liquidation, rather than having been bought by CRS or another party? I’m puzzled why it doesn’t show as defaulted, and why CRS are not moving more quickly in they’re instructed by the administrators.
I’ll heed your advice and continue to keep a watching brief, and react to a LBA if it arises.
thanks!