Aqua credit card/ Moorcroft

sourcrates

Debt collection moves very slowly, emails and texts etc can be ignored, if they want you to pay a debt they must legally write to you in a good old fashioned letter.

Moorcroft don`t knock on doors, they operate from a call centre.

It important to understand how the debt collection process actually works, to avoid overthinking the situation, they will eventually write to you, they have to do by law, they will then go through their series of collection letters, this can take 6/8 months or so, if you haven`t contacted them by this point, they may consider legal action, if they do, it will be preceded by a "letter before action" a document with a 30 day return window, that allows an agreement to be reached without the need to progress to court.

So there is plenty of time, opportunity, and scope for dealing with matters, there is no need to panic or rush into anything, legal action is a very last resort, not a first response.

Hope this helps.

Fluffykittens_me

Thanks so much, yes that helps hugely. Ill just wait for the letters to arrive. 

Rob5342

Fluffykittens_me said:

I know, Its because its all starting to escalate with contact and I'm just panicking a bit. Thanks for the advice. 

Don't let the contact rattle you. They throw in phrases like "further recovery action" or "consider our next steps" to try and panic people into contacting them, but they can't take any legal action until the debt has defaulted. Normally they will just sell the debt on to a debt collector who will chase you for payment. That sounds scary but normally the first contact is quite a friendly sounding letter saying they want to help you and if you start paying they will happily take your payment. If you ignore them then they will run through their set of threat letters and after many months may, but not necessarily, consider legal action so that's a long way down the road from where you are now. Debt collectors buy debts in bulk as an investment, many thousands at a time paying only about 10% of their value for them with the intention of making a return over several years. They can make a nice profit for little effort by accepting what might seem like small payments, they don't need to enforce everything for the full amount. 

Fluffykittens_me

Thanks for that, I can see how it works but I'm a bit calmer now everyone's put my mind at rest.