Moorcroft

lillypoo

Hi all

My cc defaulted last November, was passed to wescott for a few months then went back to the bank . 

I didn't hear anything for 8 months but today the bank has writtlten to me to say they've asked moorcroft to take responsibility for my account but they will only use my information in accordance with the banks instructions.

I take it to mean moorcroft are just taking over where wescott gave up and that they have not bought the debt.

Is there anything I need to be wary of with moorcroft? Do I need to engage with them at all?

Thank you

Brie

What do you intend to do about the debt?  Do you hope to ride out the 6 years hoping to get it statute barred?  

It is very possible that this will bounce back and forth between the bank and various debt collectors who will try their bully boy tactics to scare you into paying them something or admitting that you owe the debt.  I expect Lowells will be next.  Martsons are the nasty ones in my opinion.  

Brie

Should add - if you do decide to engage with any of the collectors do it by snail mail.  Don't answer texts or emails and don't ring them.  And if anyone should come to the door (unlikely with Moorcroft) don't let them in, don't admit to anything, tell them to go away and to write you a letter.  Have your phone ready to film them which will make them behave very politely.

fatbelly

Moorcroft are usually just collectors

No reason to deviate from your chosen strategy

What is it?

lillypoo

Thanks brie

I'm hoping it will eventually get sold on and even further ahead to be able to make a settlement offer.

I'd like to delay for a while longer as my pcp car has to go back soon so I'm saving up to buy an older one outright

I didn't engage with wescott at all. Was just worried that moorcroft might be pushier or more aggressive.

sourcrates

Companies such as Wescott/Moorcroft and pretty much anyone else acting as collection agent can be ignored.

Its when the likes of Lowell/Cabot/PRA Group/Arrow Global etc etc who are debt purchasers, that more attention should be paid.

And don`t forget, one of the above may buy your debt, then appoint Wescott/Moorcroft (again) as collector, it can get confusing, generally legal action is only taken on debts owned and collected by the owner.

Just ask if unsure.

lillypoo

Thanks sourcrates

My other two cc debts were quickly sold to Cabot after defaulting and I'm paying them monthly in a self managed dmp