Santander settlement

Sky_High

Hi

I am looking to settle a debt (Partial settlement ) with Santander. The debt is managed by Moorcroft, Is it better to go direct to Santander, or through Moorcroft? as their dealing with it on behalf of Santander.

Thanks in advance.

born_again

As Moorcroft are involved. Santander no longer have any interest in the debt. They have sold it on.

Sky_High

born_again said:

As Moorcroft are involved. Santander no longer have any interest in the debt. They have sold it on.

Moorcroft have said they are acting on Santander's behalf.

sourcrates

Moorcroft will be acting as collection agent here, and Santander will expect all communications to go via them.

Moorcroft will have certain discretion when it comes to settlement offers, anything outside of those parameters, they will have to refer back to their client.

So yes, go via Moorcroft and see how the dice roll, remember, never start with your best offer, start low, you can always increase it, have you checked enforceability before hand by submitting a CCA request to Santander (only  applicable to loans and credit cards, not bank accounts). 

Sky_High

sourcrates said:

Moorcroft will be acting as collection agent here, and Santander will expect all communications to go via them.

Moorcroft will have certain discretion when it comes to settlement offers, anything outside of those parameters, they will have to refer back to their client.

So yes, go via Moorcroft and see how the dice roll, remember, never start with your best offer, start low, you can always increase it, have you checked enforceability before hand by submitting a CCA request to Santander (only  applicable to loans and credit cards, not bank accounts). 

Thanks Sourcrates

tigergambit

Yes, go through Moorcroft. Start very low, about 20%.

Moorcroft/Santander are quite reasonable to deal with and fairly prompt.