Help with Moorfield

stressedoutmumof1

Hi there, my husband has a HP agreement with Lombard Tricity Finance paying £34 per month. The last direct debit was made in June and they haven't tried to take anything since July.

Moorfield have contacted his work to get hold of him - we haven't received any letters etc (and it's been passed onto this company (Debt Collectors).

Basically they told him they were going to issue a CC Summons unless he paid the amount in full £624.08. They said they would accept a reduced payment of £500. We can't afford that. They said his other option was to pay £78.08 a month for the next 8 months - and they would hold on till Saturday for his decision.

My question is this - should he phone them and try to negotiate a smaller payment - £40 per month for example? As we just can't afford such a big rise.

Many thanks

file_wizzard

Pay them what you can afford, DO NOT be bullied into paying more than this.

If they really want to go down the road of taking you to court then encourage them to do so !, I would be exceptionally suprised if they actually do !

they know full well that all this will result in is the judge awarding them what you can realistically afford, which will probably be far less than you are offering now anyway !

Xbigman

As this is an HP agreement I'd take it a bit more seriously than file wizard suggests, but not much. You say this has occured because the lender stopped taking direct debits, then your first course of action is to phone them immediately and ask why this has happened. If they acknowledge it is their fault they cannot reasonably expect full immediate payment. Offer to make up the arrears and set the DD back up. If they insist on your dealing with the debt collectors make them the same offer of paying the arrears and resuming normal payments but specify you will not pay any fees or extra interest as this is not your fault, and you will see them in court if they disagree. And send it in writing.
Regards



X

garyclay

For this to happen LTF must claim you have defaulted on your agreement.

I'd follow XBigMan but rather than call I'd write to LTF and ask for a full explanation of their reasons for terminating the credit agreement you had with them. Explain that they have failed to write to you regarding this account and that the DD is still set up on the account.

Have you made late payments, if so how many and how late?

As far as moorfield go I'd write to them and inform them that for the time being you are disputing the case with LTF and you will be in touch in due course. Enclose a copy of your letter to LTF.

If it transpires you are in default then you'll need to negotiate with Moorfield. If they are accepting less than the supposed bill then chances are they have bought the debt. You can offer them as much as you feel able to pay. They won't take it to court as they will lose and it will be expensive.

Keep copies of all letters you send and send it all recorded delivery. If Moorfield call you inform them politely that you are conducting all communication via mail. State that any further calls will be regarded as harrasment and that you will be taking the matter up with your solicitor.

stressedoutmumof1

Hi there, thanks for all your advice!

Unfortunately my husband has agreed to pay the £78.08 per month - and paid the 1st instalment today! So we're just going to have to tighten our belts and look forward to May when it is settled!!!

garyclay

You could still ask LTF whats going on?????? Or have you worked it out.