Moorcroft F&F

tigergambit

RWMJPMC86 said:

@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!

@RWMJPMC86
Hi, just to update you - I had an acceptance of my second F&F this morning, dated 12 Feb - offer made 4 Jan, so hopefully you should hear in the next few weeks. 

Keeping my fingers crossed for you!

Moneysaver1234567890

Thanks for the update Tigergambit!

Would you mind what % the acceptance was?

tigergambit

Moneysaver1234567890 said:

Thanks for the update Tigergambit!

Would you mind what % the acceptance was?

Not at all. It was 22.7% for both. Aqua accepted same, Tesco refused.

I did point out that as I have a 1.5% mortgage rate finishing in 2026 the amount offered was considerably higher than they would get from continuing monthly payments until then (and they wouldn't be getting anything thereafter). 

Thi800

Hi everyone.I have debt with Halifax 7 years ago and Moorcoft debt collection payment behalf Halifax.I have sent a letter to Moorcroft offer 30% full and final settlement.They have accepted it offers but they only sent letter to me confirm they accepted this offers were partially settlement.They agreed that they will close the account and not attempt to sell any assumed remainder to any agency .They will update my credit report is partially settlement.Is it safe to pay them or I must contact them pushing them in writing this 30% offers is full and final settlement?Anyone got experience about it,please help me.Many thanks 

sourcrates

Thi800 said:

Hi everyone.I have debt with Halifax 7 years ago and Moorcoft debt collection payment behalf Halifax.I have sent a letter to Moorcroft offer 30% full and final settlement.They have accepted it offers but they only sent letter to me confirm they accepted this offers were partially settlement.They agreed that they will close the account and not attempt to sell any assumed remainder to any agency .They will update my credit report is partially settlement.Is it safe to pay them or I must contact them pushing them in writing this 30% offers is full and final settlement?Anyone got experience about it,please help me.Many thanks 

It would have been better to start your own thread, but I can answer your question.

Moorcroft are correct, you are not paying the full balance, you are partially setting the debt at 30% of its face value, and that is how it will be marked on your credit file.

This has been mentioned many times previously, the terminology really needs changing to "partial settlement" rather than "full and final settlement" as it appears to cause confusion.

As long as you have the above in writing, than go for it.

Thi800

Thank you for your answer my queries .My originally debt is Halifax overdraft £4130.Moorcroft is collection money behalf Halifax.This debt 7 years ago I pay £10 a month and my credit report defaults removed it last year.Moorcroft sent letters to me ,they accept £1200 were partial settlement.Do I need them write a letter confirmation to me that they accepted £1200 is full and final settlement? Please kindly let me know.Many thanks.

sourcrates

Always, always get any settlement deal in writing, as if you don`t and they sell the remainder of the debt to someone else, you can be determined still liable for it, so always get any deal confirmed in writing first, if they won`t do that, just walk away.

Thi800

Hi .Yes Moorcroft already sent letter to me confirm they accepted £1200 for partial settlements only  and they agreed my account will closed it and balance £0 .But I have read all money expert forum ,everyone said must told Moorcroft writing to me confirm £1200 as full and final settlement.Is it true?

stu12345_2

the letter should read

" we accept your £1200 offer as full and final settlement, your account will close and balance marked as zero.it will not be sold on to any other party, your credit report will be updated to show as partially settled, this offer is valid for 28 days"

sourcrates

There you go, thank you stu, it should read as above, like I said its a problem with the wording, "full and final" should be replaced with "partial settlement" as your not paying the debt in full are you.

The really important part is that you have it in writing that any remaining balance will not be chased by them or their agent, that is what matters most.