Debt questions around DMP

sourcrates

Wait until you are written too, the original debts owners may not be who you enter debt management with, they may well sell or assign the debts to completely different companies, so wait and see what comes out of the woodwork.

Discounted2024

Thanks.

A couple of updates.

1) Tesco credit card is now defaulted, showing on clearscore, Wescot are now trying to recover, assume this is now ok to start a payment plan with them?

2) HSBC credit has gone to zero on clearscore, showing active, but now I have letters from Moorcroft saying they are acting on behalf of HSBC to recover, could I get some opinions here please

Rob5342

If you have confirmation that the debt has defaulted and you have enough of an emeregency fund built up then go ahead and start paying. Moorcroft just recover debts and don't buy them as far as I know, so I'd just ignore them until you have confirmation that it has defaulted. Some lenders like to make things diifficult for people and take a long tine to default.

Discounted2024

Thanks.
I will start paying Wescot the Tesco debt.

As for Moorfcroft/HSBC I find it strange that it's gone from in arrears £xxxx to active £0 on clearscore?

RAS

Actually that normal if a debt is being sold. The old creditor sets the debt to £0, when the new creditor reports, they list the value but the old default date. But it could take them a month or three. You have checked all three credit agencies as they are used by different creditors?

Discounted2024

The letter received from moorcroft says "Your account details have been passed to us by HSBC to act as a collection agent and we will now be dealing with your account"

Nothing about them owning the debt.

Credit file shows as active with HSBC and a Zero balance whereas before it said in arrears for £xxxx

Do I ignore this for now?

2021rdsunshine

Discounted2024 said:

The letter received from moorcroft says "Your account details have been passed to us by HSBC to act as a collection agent and we will now be dealing with your account"

Nothing about them owning the debt.

Credit file shows as active with HSBC and a Zero balance whereas before it said in arrears for £xxxx

Do I ignore this for now?

Moorcroft are just collecting the debt. This actually happened to one of my debts and the credit file also showed 0 and not defaulted. After a couple of months got a letter from original creditor with indication that would be defaulted and Moorcroft would act as collector. When it showed defaulted on credit file I started paying Moorcroft. To me means the debt has not been sold but has been defaulted which is the main thing 

Rob5342

Don't pay anything towards it until you know for sure that it has defaulted. 

Discounted2024

2021rdsunshine said:

Discounted2024 said:

The letter received from moorcroft says "Your account details have been passed to us by HSBC to act as a collection agent and we will now be dealing with your account"

Nothing about them owning the debt.

Credit file shows as active with HSBC and a Zero balance whereas before it said in arrears for £xxxx

Do I ignore this for now?

Moorcroft are just collecting the debt. This actually happened to one of my debts and the credit file also showed 0 and not defaulted. After a couple of months got a letter from original creditor with indication that would be defaulted and Moorcroft would act as collector. When it showed defaulted on credit file I started paying Moorcroft. To me means the debt has not been sold but has been defaulted which is the main thing 

So after a couple of months your 0 went back to debt amount and then showed default back with original creditor?
In the meantime did you ignore Moorcroft?

2021rdsunshine

Discounted2024 said:

2021rdsunshine said:

Discounted2024 said:

The letter received from moorcroft says "Your account details have been passed to us by HSBC to act as a collection agent and we will now be dealing with your account"

Nothing about them owning the debt.

Credit file shows as active with HSBC and a Zero balance whereas before it said in arrears for £xxxx

Do I ignore this for now?

Moorcroft are just collecting the debt. This actually happened to one of my debts and the credit file also showed 0 and not defaulted. After a couple of months got a letter from original creditor with indication that would be defaulted and Moorcroft would act as collector. When it showed defaulted on credit file I started paying Moorcroft. To me means the debt has not been sold but has been defaulted which is the main thing 

So after a couple of months your 0 went back to debt amount and then showed default back with original creditor?
In the meantime did you ignore Moorcroft?

Correct! In the meantime I ignored Moorcrof indeed. Only started paying when it showed default on credit file . No idea if the debt will get sold eventually to someone else but that’s it for now.  Moorcroft kept ringing and sending letters saying they wanted an income and expenses form. Never answered the phone for them and decided to go on their website and fill the form they wanted in a way that was convenient for me of course and they stopped ringing . But all of that after the debt showed default on credit file with original creditor.