What to do…

archer2016

Only just had this thought - I have a work Mastercard, my name is on the card but it’s through limited company. 

Could this cause me any issues if the cards I have that are Mastercard default?

I believe one of them is an MC, assuming it doesn’t matter as it’s not them i am breaking an agreement with. 

triple_choc_chip

Hi archer2016

De-lurking to say I always reassure my employees that card companies will not credit check them in any way when I apply for them to have a company credit or charge card even though the card is delivered to their home address.  So I don’t think this will cause issues.  The credit risk is the company’s.

archer2016

Thank you TCC. 

tigergambit

archer2016 said:

Thanks, sorry can take some getting your head round. 

It really does. Try to remember that it is not your job to chase them - that's what they pay staff for. Your job is to keep your head down and build that emergency fund. Don't answer phone calls or texts, wait for them to write. 

It could be months yet.

archer2016

I’ve had letters from m and s saying that my account has gone into default. 

Then that they are passing onto Moorcroft.

moorcroft been in touch with intial letter and details of how to pay etc.

however account not showing on transunion as defaulted yet. 

Is it not safe to start paying Moorcroft until it shows on transunion as defaulted?

sourcrates

@archer2016

The thing you have to keep in mind, is that companies such as Moorcroft, in fact all debt collectors, use a similar collection process.

This involves sending standard letters, over a period of time, usually many months, as nothing happens quickly, so there is no rush to do anything.

RAS

Wait for the default to show up.

Not least as there is quite a difference between a debt with a registered default and a debt that "gone into default."

Have you at any stage had a letter demanding the repayment of the whole sum within 14 days?

archer2016

Yes although it said 18 days and that if I didn’t they’d close my account etc although on checking they don’t mention default in that letter so maybe I got mixed up. That was a final demand, since they I’ve just got the letter from Moorcroft and Moorcroft have sent a letter. 

sourcrates

In that case Moorcroft will have been engaged to just collect your arrears, they would then pass it back to the lender once that was done.

So if you are still awaiting the default, ignore Moorcroft.

archer2016

Thank you both