Moorcroft F&F

hi all,

Has anyone had any trouble with Moorcroft lately? I have an account owned by CapQuest, being collected by them at £16 a month.
I reduced payment in November after filling in an online query form advising them I intended to, to £5 a month.
I also completed an online query form advising I have just been paid a net bonus of £250 and to put this to CapQuest as an offer of partial settlement (balance is £1400 so I know it's pushing it but thought it was worth a try)
They emailed today asking to contact them over the phone URGENTLY so I did, they refuse to acknowledge my reduction request or put forward my F&F request without me going over full income and expenses again, and they now say I'm overdue the £16 a month and need to bring the account up to date or they'll 'take things further'

Think They'll chase a CCJ for this, is it worth paying them out of the bonus to cover the £16 a month? I was of the impression I could dictate to them what I could afford to pay without having to go through I&E every time?

1st Jan 2024
Total DMP Value = £35,640 made up of -
Moorcroft Debt Recovery  £1,419.62
Zopa £2,654
Link Financial £3,199.46
Moorcroft 2 £4,582.28
Link Financial £4,759
Lendable £9,349
Hastings Loan £9,755

Sainsburys bank £7,575
Next £250.80
Fluid Card £553.60
Very £220

Total Debt £44,853.18
Emergency Fund: £1250/£1000

Debt free in 10 years?! Lets do this!
«1

Comments

  • stu12345_2
    stu12345_2 Posts: 797
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    edited 19 January at 3:20PM
    you did a general online query about only paying £5, that's why they want a fresh income and expenditure form. you aren't required by law to supply this, but I guess  capquest want  .
    more.

    surely you don't need to fill in an income  expenditure form if you are making a f and f offer, 

    I once made a hypothetical f and f enquiry and all I had to declare was I was fully up to date with priority bills.

    I have read that some companies want to see income and expenditure forms to work out if it's better for them to get monthly amounts from you as they make more long-term than a low ball offer

    pay your debt at your rate.not what the creditor demands.cos they have no power.they aren't the police.
  • tigergambit
    tigergambit Posts: 66
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    RWMJPMC86 said:
    hi all,

    Has anyone had any trouble with Moorcroft lately?
     they refuse to acknowledge my reduction request or put forward my F&F request without me going over full income and expenses again,...they'll 'take things further'

    Think They'll chase a CCJ for this, is it worth paying them out of the bonus to cover the £16 a month? I was of the impression I could dictate to them what I could afford to pay without having to go through I&E every time?

    Moorcroft are another funny bunch in my experience. I have two accounts with them, both Santander. Originally it was only my Overdraft and I made a (low ball) F&F on that last August. They came back and asked for SOA. Fair enough. I did that and then to my surprise they said that Santander had asked what about the CCard. This hadn't been sent to Moorcroft. Santander then transferred collection for the CC (which I'd requested a CCA on) to Moorcroft who then insisted that I request a CCA from THEM so that they could ask Santander (!!!!!!??). This rolled on for weeks and weeks and was then supplied. I have now made a F&F on the same terms for the CC and they have agreed to discuss it with "their client".

    So to answer your question, NO, you're not receiving any different treatment than standard from Moorcroft. Do the SOA or, (even better), do one with National Debtline and send them the result National Debtline provide you with. Just make sure that you have your figures right before you do it. Neither will ask for proof of anything.

    I can't see them chasing a CCJ for £1400. Both my O/D and CC balances are considerably more than that and I haven't paid anything since July last year - when they ask why I just refer them to the F&F or CCA request and say I'm awaiting a response. I would suggest that you do the same - it'll concentrate their minds and if you supply the SOA then it's only fair for them to wait for the result of the F&F.

    They've told me that they expect to hear back from their client regarding my F&Fs by the end of next week so we'll see. It seems very odd that they decide whether or not to pass your offer on but that sems to be the way they operate - perhaps they have found that their clients won't make a decision without an SOA?


  • BadDebtor
    BadDebtor Posts: 153
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    RWMJPMC86 said:
    hi all,

    Has anyone had any trouble with Moorcroft lately? I have an account owned by CapQuest, being collected by them at £16 a month.
    I reduced payment in November after filling in an online query form advising them I intended to, to £5 a month.
    I also completed an online query form advising I have just been paid a net bonus of £250 and to put this to CapQuest as an offer of partial settlement (balance is £1400 so I know it's pushing it but thought it was worth a try)
    They emailed today asking to contact them over the phone URGENTLY so I did, they refuse to acknowledge my reduction request or put forward my F&F request without me going over full income and expenses again, and they now say I'm overdue the £16 a month and need to bring the account up to date or they'll 'take things further'

    Think They'll chase a CCJ for this, is it worth paying them out of the bonus to cover the £16 a month? I was of the impression I could dictate to them what I could afford to pay without having to go through I&E every time?

    Do NOT provide anyone with anything, they will just use it against you.

    If they don't know your income they can't go after it and it can't be a part of their decision making process as to whether to seek a CCJ.  Note my debts ranged from £1k to £15k per debt and it was a debt under £5k and over £2k that got the CCJ, they still got nothing. I had only one CCJ for consumer debt. 

    I owed about double what you owe and like a good little citizen I serviced the debt for years until I realised that I was never going to be able to pay it off.  It was at that time I read that every time I made a payment I extended the 6 year statute barred period and realised what a fool I had been.

    You do not need to give them info but they can see you are highly leveraged on your credit report, so you can use this to say "I have had enough, I am now getting help from a debt charity and seriously considering bankruptcy as this is affecting my marriage and it looks like I am going to be made redundant. 

    Consumer debt can't be used to make a charge on your home if you are lucky enough to own one, but bad debt can affect your ability to remortgage.  A mortgage is just a fund to pay for the care home we will end up in as far as I can see, but if you have no home and do not want to ever have credit again then you can stop paying and tell them all you won't be paying any more. 

    Once they default the 6 years will pass quicker than the 10 years and you have no idea what will happen in the next 10 years, you might suffer from ill health or have life changing event that prevents you earning.  I would not advise you take this "nuclear option" if you have something to lose, such as your home or your potential credit record if you need one. 

    The fact that you say it will take 10 years to pay off the best part of £45k but are talking about £5 payments says something is wrong here. I had more than double that and on reflection and in discussion with debt charities it was clear that it was irresponsible lending, so not totally your fault.  You spent the money and had benefit from whatever you spent it on, but they should not have lent you so much if it now takes 10 years to pay it off.

    So if you want an F&F for all your debts there is a middle ground, you do what I said above (after a remortgage if you need one), the debts will default and will be sold for 5p in the pound or thereabouts.  Whoever buys your debt will pass you around like a buc type cake, each of these companies will go through a series of letters which they send to everyone. 

    If you ignore them you will eventually get the offer to settle for a fraction of what you owe.  If it is more than 20% of the debt ignore it and wait it out, the more time that passes the better the offer will be.   

    Not all your debts will be sold to the same debt collectors, so keep every letter and you will learn the cycle of their letters.  Note once they pass your debt from one debt collector to another (you will get a letter saying "we are now dealing with your debt from Next" or whoever the original lender was, so you will not be able to take up the offer of a debt collector that has been replaced with another debt collector.

    Your approach for whether to continue with your DMP or to take either of the two options I describe above will depend on what you have to lose.  If you have nothing then they can't take anything, but you should NOT be seeking to pay £5 a month just so you can have more debt or live on swamped with debt.  A good friend of mine has a spending disease, they have been bailed out so many times but get some sort of buzz from spending money they don't have, usually on stuff they don't even want, never mind need.  It took a lot of counselling for them to realise they had a problem, they were first weaned onto eBay and then onto Freecycle which they 

    What I describe is a nuclear option because it ends your ability to borrow, can affect high security or financial jobs so it should not be considered if these are important things to you.

    Another option if you have no assets is to get F&F offers on £20k and then doing a DRO for the rest, if you think you qualify for a DRO (see debt charity sites).

    As for the £250, I would put it aside and if Moorcroft ask you about it you can say you gave it to another of your creditors in full and final settlement of a different debt and now you are looking at more severe options to deal with your debt.

  • fatbelly
    fatbelly Posts: 20,202
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    edited 20 January at 12:05PM
    RWMJPMC86 said:
    hi all,

    Has anyone had any trouble with Moorcroft lately? I have an account owned by CapQuest, being collected by them at £16 a month.
    I reduced payment in November after filling in an online query form advising them I intended to, to £5 a month.
    I also completed an online query form advising I have just been paid a net bonus of £250 and to put this to CapQuest as an offer of partial settlement (balance is £1400 so I know it's pushing it but thought it was worth a try)
    They emailed today asking to contact them over the phone URGENTLY so I did, they refuse to acknowledge my reduction request or put forward my F&F request without me going over full income and expenses again, and they now say I'm overdue the £16 a month and need to bring the account up to date or they'll 'take things further'

    Think They'll chase a CCJ for this, is it worth paying them out of the bonus to cover the £16 a month? I was of the impression I could dictate to them what I could afford to pay without having to go through I&E every time?

    So you've made a low F&F offer and they've effectively refused it.

    Normal advice is to wait 6 months and try again.

    In the meantime if £5 is what you can afford, pay that.

    However, it may be useful at this point to do a CCA request and see what comes back.

    Ignore all threats of 'further action' as these are meaningless but if you get a preaction letter with standard reply form and 30-day limit, let us know. It would come from Capquest.
  • sourcrates
    sourcrates Posts: 28,514
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    edited 20 January at 2:36PM
    Moorcroft don`t own your debt, they only manage it. they can`t do anything except on instruction from Capquest.

    It`s basically standard spiel to get you to increase payments, "taking things further" simply means more letters and calls, loosely termed as "collection activity".

    Courts set payments according to budgets, in just the same way as a debt collector does, taking legal action against you would have no benefit to them, 99% of the time its just a standard script they work too, and as fatbelly says, it`s utterly meaningless.
    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 [email protected]. 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-letter
  • RWMJPMC86
    RWMJPMC86 Posts: 32
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    @BadDebtorThe fact that you say it will take 10 years to pay off the best part of £45k but are talking about £5 payments says something is wrong here - this is because I'm paying the debts in order, snowballing as it were. so many are getting £5 a month while I clear the smallest (now they're all interest frozen) there are some F&F going in here and there too, just to give it a try.

    All of my debts defaulted in 2022/early 23. I have cleared around £7.5k since while I also now have a 'healthy' emergency fund. My home is mortgaged and I have no concerns about a mortgage in Jan 2025 when it's due as I've already spoken to the provider and we will stay with them with no credit check.

    I am already 2 years into the process which you are advising me to begin.

    Thanks @fatbelly and @sourcrates great advice as always, I only wish I had your knowledge 5-10 years ago when all this was piling up! CCA requests went in in December and CapQuest were pretty sharp at getting these back to me, I expented so - it was an account set up online with Virgin money only 4 years ago for a balance transfer.



    1st Jan 2024
    Total DMP Value = £35,640 made up of -
    Moorcroft Debt Recovery  £1,419.62
    Zopa £2,654
    Link Financial £3,199.46
    Moorcroft 2 £4,582.28
    Link Financial £4,759
    Lendable £9,349
    Hastings Loan £9,755

    Sainsburys bank £7,575
    Next £250.80
    Fluid Card £553.60
    Very £220

    Total Debt £44,853.18
    Emergency Fund: £1250/£1000

    Debt free in 10 years?! Lets do this!
  • tigergambit
    tigergambit Posts: 66
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    RWMJPMC86 said:
    hi all,

    Has anyone had any trouble with Moorcroft lately? I have an account owned by CapQuest, being collected by them at £16 a month.
    I reduced payment in November after filling in an online query form advising them I intended to, to £5 a month.
    I also completed an online query form advising I have just been paid a net bonus of £250 and to put this to CapQuest as an offer of partial settlement (balance is £1400 so I know it's pushing it but thought it was worth a try)
    They emailed today asking to contact them over the phone URGENTLY so I did, they refuse to acknowledge my reduction request or put forward my F&F request without me going over full income and expenses again, and they now say I'm overdue the £16 a month and need to bring the account up to date or they'll 'take things further'

    Think They'll chase a CCJ for this, is it worth paying them out of the bonus to cover the £16 a month? I was of the impression I could dictate to them what I could afford to pay without having to go through I&E every time?

    Well. FYI. Further to the above I had a letter from Moorcroft today accepting my F&F at 23% on the overdraft but no response on the CC.
  • RWMJPMC86
    RWMJPMC86 Posts: 32
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    oh that's great though @tigergambit

    Moorcroft are phoning me daily, I have requested they email me their query and they don't and then I get another call the next day.

    I've emailed them my proposal, I've sent everything in writing. Not quite sure what more they want.
    1st Jan 2024
    Total DMP Value = £35,640 made up of -
    Moorcroft Debt Recovery  £1,419.62
    Zopa £2,654
    Link Financial £3,199.46
    Moorcroft 2 £4,582.28
    Link Financial £4,759
    Lendable £9,349
    Hastings Loan £9,755

    Sainsburys bank £7,575
    Next £250.80
    Fluid Card £553.60
    Very £220

    Total Debt £44,853.18
    Emergency Fund: £1250/£1000

    Debt free in 10 years?! Lets do this!
  • tigergambit
    tigergambit Posts: 66
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    RWMJPMC86 said:
    oh that's great though @tigergambit

    Moorcroft are phoning me daily, I have requested they email me their query and they don't and then I get another call the next day.

    I've emailed them my proposal, I've sent everything in writing. Not quite sure what more they want.
    Yes, I'm very pleased.

    I think you just need to humour them and supply a SoA. Simplest way is to do this with National Debtline and send them the summary National Debtline provide.

    They do seem to be very insistent on following their procedures to the letter.
  • RWMJPMC86
    RWMJPMC86 Posts: 32
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    @tigergambit yeah you're right, I sent that yesterday and they called to say they'll now discuss the £250 F&F with their client, so who knows - maybe I'm on to a good thing here!
    1st Jan 2024
    Total DMP Value = £35,640 made up of -
    Moorcroft Debt Recovery  £1,419.62
    Zopa £2,654
    Link Financial £3,199.46
    Moorcroft 2 £4,582.28
    Link Financial £4,759
    Lendable £9,349
    Hastings Loan £9,755

    Sainsburys bank £7,575
    Next £250.80
    Fluid Card £553.60
    Very £220

    Total Debt £44,853.18
    Emergency Fund: £1250/£1000

    Debt free in 10 years?! Lets do this!
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