Need help with moorcroft

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Morgazoid
Morgazoid Posts: 2 Newbie
in Debt-free wannabe
Hi all!

So I stupidly took out a car with Moneybarn 2 years ago. Gave it back and have the 50% still to pay on what I was left with (now around 1500). I was paying them back every month 100 however they've now sold my debt to Arrow Global (whom have now given it to moorcroft to manage for them)
How much do I offer to settle this?
Its the last debt I have now to pay and I'll be clear after a year of working 7 days a week!!
Not sure about this company so thanks in advance

Nick :money:

Comments

  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    They only manage debts, so have no authority to say or do anything, you can ignore them if you wish, but Arrow will just appoint another collector.

    Make a low ball offer, you can always negotiate upwards, they will have to run it past Arrow first., but you should be able to settle this for less than a grand.
    Be creative.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Morgazoid
    Morgazoid Posts: 2 Newbie
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    Hi thank you for the reply!
    It's the last one I have to pay before being debt free so trying to settle for the last amount I can. Hoping for about 50% but dunno if they'd take that.

    Will ask anyway haha
    Cheers
  • NeverendingDMP
    NeverendingDMP Posts: 1,745 Forumite
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    The first debt i settled was with arrow/moorcroft. They agreed 60% with me. No issues and it all got processed and cleared properly. I think if i had more experience with the process of settling i may have had it slightly cheaper but not much. I found it pretty straightforward at the time as a first timer. Give it a try if you can afford an offer. Start lower than you can afford and see what happens Good luck x
    Jan 18 Joint debts 35,213 - March 24 16.6k
    Mortgage Jan 18- 77224 Dec 23- just under 69k
  • PZ19
    PZ19 Posts: 471 Forumite
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    We made F & F settlement to them some months go, they wanted SOA which we sent, not heard anything back. Mind you at least they made contact with us, Robinson Way couldn’t even bother to reply, offered them lump sum equivalent to 10 years worth of payments back in August, obviously not interested.
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