Moorcroft (RBS)being awkward full and final settlement

stu12345_2

 i wrote to 2 creditors, one being moorcroft who manage my RBS Credit card debt. I asked would they accept 25% and if not what would they accept 

moorcroft replied today saying RBS refused and they want to know if I will still be making my monthly  regular payments on my dmp, plus what is  the reason for my settlement,  and all the other repayments I make to other creditors  if any and  what offers I've made to them if any.
plus a full SAO from me

without this info they said they won't be able to create any partial offers they may give to me



they don't know they are getting nothing from me now from this month onwards as I'm using my monthly full dmp payment to actually fund the full and final offer.

other creditors just simply answer back with a price valid for 30 days.

eg 6 months ago my wife contacted a DCA for her capital one card debt about f and f offers and they said they will take 50% now , no questions asked

she also has link financial debt and they said in an email  last month they will accept 75%, no questions asked.

we couldn't take up their offers as we had no funds, so the only way was to stop our dmps and use that money to actually fund the offers, which we are trying to do. by saving up.

eg this month we will have saved up a fair amount, and if we continue with that plan , we can eventually make more offers.
but not if creditors want our SAO and numerous  other questions and answers etc.before they consider 

so how do I deal with moorcroft now? or is it RBS that's awkward.
how do I deal with their awkwardness  and get a price from them without all this malarkey they are probing for .

eg the regular dmp money I gave them via a standing order was done without a SAO as I refused to reveal my finances to them, but they accepted and collected my regular payment, which I'm now stopping completely.

tigergambit

I think you'll find it's RBS that's calling the shots. I had a couple of Santander f+fs with Moorcroft and Moorcroft had to supply a set of requirements from them. Got them settled eventually but it took a while.

stu12345_2

tigergambit said:

I think you'll find it's RBS that's calling the shots. I had a couple of Santander f+fs with Moorcroft and Moorcroft had to supply a set of requirements from them. Got them settled eventually but it took a while.

how did you do it without producing all the evidence and q and a moorcroft want( RBS want),  I don't want RBS to know of how my plan to fund f and f"s and  my household finances .

I have kept my finances private from them for along time, they got what I fancy giving them each month.

they have been getting well below what I could actually afford to give them for months and months. like £20 when I could have gave them£100, that's if they got access to my SAO.

and I'm in a new higher paid job in last 2 months as well. that's helping save up the f and f money, cos my plan is no payments to anyone. then hit them all with f and f offers many months down the line.( I actually have enough saved up to hit 2 creditors with offers this month, which I did) moorcroft and link financial 

but if moorcroft,RBS see my SAO they will probably think, no offers, we're better off just getting regular  proper payments from this guy

I'm tempted to not supply info and continue a £20 payment or nothing at all and concentrate on f and f offers to creditors that have asked no questions.
 and settle them.

and then come back to moorcroft eventually and perhaps only at that point supply a SAO , but then they will see I have less creditors I owe , hence I can make very good monthly payments to RBS ( moorcroft)which would only encourage them them to not give any offers at all !

I'm playing a game with them so to speak, they have defaulted, and seeing how long I can hold out before letter before action and how much I have saved up by that point and then what to do at that point

my wife and I have saved £900 this month, but Dave Ramsey beans and rice lol would  probably save at £1100 and our debts total £21000
we been on a dmp for over 2 and 1/2  yrs, started at £34000 and we are not willing to pay back it all.
low f and f offers would knock off £thousands

ps would RBS sell the debt to someone I can deal directly, rather use DCA like moorcroft,

fatbelly

Stu- carry on making small regular payments. I suspect RBS will eventually sell the debt and then you can make a lump sum offer

MrRichTea

I think i would pay them £5 month (min.stepchange say you can pay a creditor) & save the rest, if only for peace of mind, your acknowledging the debt, therefore reducing risk of a LBA.

stu12345_2

MrRichTea said:

I think i would pay them £5 month (min.stepchange say you can pay a creditor) & save the rest, if only for peace of mind, your acknowledging the debt, therefore reducing risk of a LBA.

I do also have an RBS loan with moorcroft and the min payment is much higher than £5 cos of the way etc step change distribute payments,eg they base it on contractual amount.

think I was giving £40 a month for loan and £20 for credit card in my own run dmp
Stepchange would probably want £100 and £60 cos of my new higher salary.
moorcroft have no idea what we earn or  our outgoings
but I really want to give them pennies in order for me to use that money saved up to  to make low ball  full and final offers

what is stopping hanging on for months( saving every spare £ )  then getting a LBA and then offering a f and f offer then.

is there a box to tick if it gets to that point, rather than repayment plan or full amount?

JadedAngel88

If it was me I'd pay them a £1 a month for 6 months then ask again. If they still say no continue with the £1 payments. They'll crack eventually. 

stymied

Your SOA can say anything can’t it? Plus the reason for F&F. For F&F surely the ‘reason’ is lump sum from a third party (your wife 😉) to settle as much of your debt as possible. Once it’s been accepted by one creditor then it’ll be gone.

Your SOA is created to show you can afford to pay the £40 + £20 per month, although sadly due to cost of living crisis actually all you can now afford is £20 + £10. That little bit doesn’t take much away from your monthly savings but keeps them happy.

stu12345_2

stymied said:

Your SOA can say anything can’t it? Plus the reason for F&F. For F&F surely the ‘reason’ is lump sum from a third party (your wife 😉) to settle as much of your debt as possible. Once it’s been accepted by one creditor then it’ll be gone.

Your SOA is created to show you can afford to pay the £40 + £20 per month, although sadly due to cost of living crisis actually all you can now afford is £20 + £10. That little bit doesn’t take much away from your monthly savings but keeps them happy.

they want to know my other debts, what I pay for them, what offers I've requested for them and I would severely have to be creative with my sao, as at the moment we have about £900  a month that can be split amongst 10 creditors of £21000 outstanding.

still tempted to contact no questions asked creditors instead, but I guess if I settled them , then in my sao it would show I have less debts , thus RBS would expect higher monthly amount, then not offer a good F and f, 

I have to show I'm super skint to them by being very creative