F&F Payment on Barclays Debt/ Collected by Moorcroft

Platespinner123

They would have the right to apply for a CCJ, yes - but as long as you fill in the court forms, the court will look at what is an affordable amount for you to repay. If that's £10, you'll be told to pay £10 a month, and as long as you do, they can't do anything further (e.g. send bailiffs).

sourcrates

moneyworrier2021 said:

Im not really trying to pull a fast one. Money is incredibly tight atm and they didn't accept my low offer which I kinda expected.

Ws curious if they have the right to take further action if I did went ahead and reduced my payments

OK, your running around here, firing off settlement offers, when you don`t actually know who still owns your debt, or even if its enforceable or not.

If Moorcroft bought your debt, they would have written to you telling you so, did you receive such a letter from them ?

If you don`t know, or can`t re-call, then ask them, as you need to know.

Once ownership is established, the next step in the dance is to send a CCA request to the owner, be that Moorcroft, or Barclays, this is to ascertain the debts enforceability, they must be able to supply, on demand, a copy of the original credit agreement, or if that is not available, a re-constituted version of it, in order to have legal authority to actually collect this debt.

Dependant on the outcome of this, that is then the time to make your settlement offers, if they haven`t been able to comply with your CCA request, you can just walk away and pay nothing, or low ball them with a cheeky offer.

You don`t give up at the first hurdle, this process is more of a marathon than a sprint, it can mean a lot of letter tennis, over quite a long period of time, offer then counter offer, but eventually you may strike lucky.

One poster on these forums managed, I believe it was a 10% settlement on a number of large debts, simply by persevering.

y3sitsm3

moneyworrier2021 said:

Im not really trying to pull a fast one. Money is incredibly tight atm and they didn't accept my low offer which I kinda expected.

Ws curious if they have the right to take further action if I did went ahead and reduced my payments

Maybe you'll pull the wool over their eyes and convince them that you suddenly can't afford to make your repayments despite offering them 30% as a lump sum and telling them you have £160 left over at the end of the month with your current repayments but I doubt they'll be so daft.

Its rather obvious that you're trying to "stick it to them" as a result of them turning down your cheeky settlement offer.  They can absolutely pursue you through the courts if they wish, and are probably more likely to do so if you appear to be extracting the Michael.

sourcrates

y3sitsm3 said:

moneyworrier2021 said:

Im not really trying to pull a fast one. Money is incredibly tight atm and they didn't accept my low offer which I kinda expected.

Ws curious if they have the right to take further action if I did went ahead and reduced my payments

Maybe you'll pull the wool over their eyes and convince them that you suddenly can't afford to make your repayments despite offering them 30% as a lump sum and telling them you have £160 left over at the end of the month with your current repayments but I doubt they'll be so daft.

Its rather obvious that you're trying to "stick it to them" as a result of them turning down your cheeky settlement offer.  They can absolutely pursue you through the courts if they wish, and are probably more likely to do so if you appear to be extracting the Michael.

If Moorcroft have indeed, bought the OP`s debt, they would have done so for around 12% of its face value, give or take.

They are now expecting the OP to repay the full outstanding balance, so if anyone is trying to "stick it to them" its Moorcroft.

Buying debts for a mere fraction of their worth, then wanting full face value in return, although it may be legal, this practice is far from ethical, so the more discount the OP can negotiate, by whatever means possible, the better.

Moorcroft are not going to start legal action whilst they are already being paid, plus its a non priority, non essential debt, so the OP can pay whatever there budget says they can pay, the same budget would be presented to a court, so there is no benefit to taking legal action.