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  • FIRST POST
    • clairef123
    • By clairef123 10th May 18, 6:31 PM
    • 5Posts
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    clairef123
    Letters from Moorcroft
    • #1
    • 10th May 18, 6:31 PM
    Letters from Moorcroft 10th May 18 at 6:31 PM
    Hi, first of all, I hope I have posted this in the correct forum, and apologies if not. I hope you can give me just a bit of general advice or reassurance.

    I had a repossession 10 years ago, which I have been paying steadily for the past 10 years. May I add I have paid this myself with my ex partner not paying a penny towards this even though it was a joint mortgage. I currently pay £40 per month, and have just received a letter from Moorcroft stating that they are taking over responsibility for the payments and to contact them to arrange. I also received a letter with a Halifax logo on explaining this, but when googled the postcode on the envelope, realised that this was also from Moorcroft.

    I have no problem carrying on with the standing order of £40 per month, but am aware that Moorcroft can apply bullying tactics to pressure you to pay more, and as I now have a new mortgage and excellent credit rating, I am slightly anxious as to how this could affect this. Is there anything you can advise? Many thanks
Page 1
    • January2015
    • By January2015 10th May 18, 8:11 PM
    • 2,144 Posts
    • 5,254 Thanks
    January2015
    • #2
    • 10th May 18, 8:11 PM
    • #2
    • 10th May 18, 8:11 PM
    Personally I have found Moorcroft absolutely brilliant to deal with. They have even questioned whether I can really afford the £1 per month I have been paying them for the last couple of years.

    If they ask for an income and expenditure statement to evidence what you can afford - do one, but make it show you can only afford the £40 per month you are giving them. They cannot make you send proof of earnings/income or expenditure so you 'statement' is what they have to go on.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    • sourcrates
    • By sourcrates 10th May 18, 8:24 PM
    • 14,621 Posts
    • 13,750 Thanks
    sourcrates
    • #3
    • 10th May 18, 8:24 PM
    • #3
    • 10th May 18, 8:24 PM
    Moorcroft cannot do a thing to you, they do not own the debt.

    They do not buy debts, all they do is manage them for there client banks.

    Nothing has to change, you just carry on as before, tell them what there getting and when.

    Halifax are still your creditor, all they have done is pass responsibly for taking your payment to Moorcroft.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • fatbelly
    • By fatbelly 10th May 18, 9:48 PM
    • 12,466 Posts
    • 9,512 Thanks
    fatbelly
    • #4
    • 10th May 18, 9:48 PM
    • #4
    • 10th May 18, 9:48 PM
    10 years is a long time to be paying a debt. Could you access a lump sum to make a final settlement offer?
    • clairef123
    • By clairef123 10th May 18, 11:40 PM
    • 5 Posts
    • 0 Thanks
    clairef123
    • #5
    • 10th May 18, 11:40 PM
    • #5
    • 10th May 18, 11:40 PM
    10 years is a long time to be paying a debt. Could you access a lump sum to make a final settlement offer?
    Originally posted by fatbelly
    My ex partner refused to pay/ avoided the debt collectors so I’m assuming they cannot chase him for it any longer and I am solely responsible. The original shortfall was 25k, the outstanding balance on the letter I received today was £17k. I am going to ring Halifax on Monday to ask whether this is correct, I have paid £40 for approx the last 4 years without a letter/balance statement from them, I did pay £100 per month for years prior to this, so have my doubts whether the figure they’ve quoted is correct. I couldn’t afford to get a loan to pay off this, and doubt they’d accept a much lesser amount. So frustrating, I’ve tried to be responsible, and worked my !!!! off to be debt free over the years but this is still hanging over me!
    • fatbelly
    • By fatbelly 11th May 18, 7:43 AM
    • 12,466 Posts
    • 9,512 Thanks
    fatbelly
    • #6
    • 11th May 18, 7:43 AM
    • #6
    • 11th May 18, 7:43 AM
    A payment by you stops the debt going statute barred for him. You are both jointly liable.

    I have seen settlement deals on mortgage shortfalls below 10%. I wouldn't recommend borrowing money for an F&F deal though.

    If you want to soften them up you could start working through this factsheet

    https://www.nationaldebtline.org/EW/factsheets/Pages/mortgage-shortfalls/mortgage-debt.aspx
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