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  • FIRST POST
    • Flipflap
    • By Flipflap 4th Jul 18, 6:29 PM
    • 8Posts
    • 1Thanks
    Flipflap
    Advice on F&F please
    • #1
    • 4th Jul 18, 6:29 PM
    Advice on F&F please 4th Jul 18 at 6:29 PM
    Evening all

    I am have a couple of debts that are 10 years old i am making minimum payments no problem, i am now in a postition to make an f&f, the debt is in my maiden name when i was young and stupid and very gullible
    I have this year taken out a mortgage with the same lender as my credit card debt, that is managed by Moorcroft, they have refused my first offer of below half. what i am curious to know is is can the original lender and my mortgage provider (same
    bank) cross reference me as i now have a different name?
    I didnít flag up on their computer when i applied for my mortgage! Its no longer on my credt file etc
    Hope this makes sense, i want to be clued up for making another offer!
    Thank you all
Page 1
    • middleclassbutpoor
    • By middleclassbutpoor 4th Jul 18, 6:34 PM
    • 380 Posts
    • 321 Thanks
    middleclassbutpoor
    • #2
    • 4th Jul 18, 6:34 PM
    • #2
    • 4th Jul 18, 6:34 PM
    How much are you paying per month?
    How much debt is remaining and what are you looking to offer?
    • Flipflap
    • By Flipflap 4th Jul 18, 7:07 PM
    • 8 Posts
    • 1 Thanks
    Flipflap
    • #3
    • 4th Jul 18, 7:07 PM
    • #3
    • 4th Jul 18, 7:07 PM
    Hi
    I pay £35 per month, i owe £5000 i offered £2000
    They want an expenditure sheet filled out, i have asked for them to make me an offer?
    My trouble is i donít want them to search for me and realise i have a new mortgage!? Is this possible? the debt is in my old name and my husband Ďand us togetherí cannot afford to pay back my debts on full!
    Thanks again
    • sourcrates
    • By sourcrates 4th Jul 18, 8:37 PM
    • 15,716 Posts
    • 14,779 Thanks
    sourcrates
    • #4
    • 4th Jul 18, 8:37 PM
    • #4
    • 4th Jul 18, 8:37 PM
    Hi
    I pay £35 per month, i owe £5000 i offered £2000
    They want an expenditure sheet filled out, i have asked for them to make me an offer?
    My trouble is i donít want them to search for me and realise i have a new mortgage!? Is this possible? the debt is in my old name and my husband Ďand us togetherí cannot afford to pay back my debts on full!
    Thanks again
    Originally posted by Flipflap
    Makes no difference what other financial products you may have with the same lender, one does not effect the other.

    If I had 10 year old credit card debt Iíd be sending out CCA requests as the chances of having the correct paperwork now are pretty slim.
    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/
    • Flipflap
    • By Flipflap 4th Jul 18, 9:00 PM
    • 8 Posts
    • 1 Thanks
    Flipflap
    • #5
    • 4th Jul 18, 9:00 PM
    • #5
    • 4th Jul 18, 9:00 PM
    Hi,
    I sent them one about 2 years ago, posted on here, all enforceable sadly!
    • Flipflap
    • By Flipflap 4th Jul 18, 9:06 PM
    • 8 Posts
    • 1 Thanks
    Flipflap
    • #6
    • 4th Jul 18, 9:06 PM
    • #6
    • 4th Jul 18, 9:06 PM
    Hi,
    I sent them one about 2 years ago, posted on here, all enforceable sadly!
    • Carrot007
    • By Carrot007 4th Jul 18, 9:20 PM
    • 1,706 Posts
    • 1,450 Thanks
    Carrot007
    • #7
    • 4th Jul 18, 9:20 PM
    • #7
    • 4th Jul 18, 9:20 PM
    I am have a couple of debts that are 10 years old i am making minimum payments no problem
    Originally posted by Flipflap

    So still with the original company then (even if "managed" internally/on behalf of). You will be lucky to get 85%.


    This is why dafaulting early on and getting the debt sold on is recomended. They sell for say 10% so the new company are happy to accept 40%.
    • Flipflap
    • By Flipflap 4th Jul 18, 9:25 PM
    • 8 Posts
    • 1 Thanks
    Flipflap
    • #8
    • 4th Jul 18, 9:25 PM
    • #8
    • 4th Jul 18, 9:25 PM
    Thanks, this is going to be a struggle i am guessing!!
    • fatbelly
    • By fatbelly 4th Jul 18, 9:51 PM
    • 12,973 Posts
    • 10,043 Thanks
    fatbelly
    • #9
    • 4th Jul 18, 9:51 PM
    • #9
    • 4th Jul 18, 9:51 PM
    I pay £35 per month, i owe £5000 i offered £2000
    They want an expenditure sheet filled out, i have asked for them to make me an offer?
    Originally posted by Flipflap
    Give them income and expenditure. Make sure the surplus is £35 and put 'housing costs' instead of 'mortgage'

    They can choose to settle now or carry on getting £35 for the next 12 years
    • Flipflap
    • By Flipflap 5th Jul 18, 12:00 PM
    • 8 Posts
    • 1 Thanks
    Flipflap
    Out of interest what are the chances of them starting court proceedings against me?
    To recover the money that way?
    Thanks
    • sourcrates
    • By sourcrates 5th Jul 18, 1:21 PM
    • 15,716 Posts
    • 14,779 Thanks
    sourcrates
    Out of interest what are the chances of them starting court proceedings against me?
    To recover the money that way?
    Thanks
    Originally posted by Flipflap
    Hard to say, less than 10% of defaulted debt goes go court, but that figure is increasing.
    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/
    • January2015
    • By January2015 5th Jul 18, 1:53 PM
    • 2,298 Posts
    • 5,477 Thanks
    January2015
    Out of interest what are the chances of them starting court proceedings against me?
    To recover the money that way?
    Thanks
    Originally posted by Flipflap
    I'm no expert but I would say as long as you maintain contain and make some form of regular payment towards the debt it increases the chance the creditor/DCA would not proceed to court proceedings. That doesn't mean it won't happen, but if you are evidencing all you can afford is what you are paying them, then they will realise that going to court is unlikely to achieve an improvement on the existing payment offer.
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k I'm driving it down
    £1k emergency fund (member #84) £1k/£1k
    • fatbelly
    • By fatbelly 5th Jul 18, 8:33 PM
    • 12,973 Posts
    • 10,043 Thanks
    fatbelly
    Out of interest what are the chances of them starting court proceedings against me?
    To recover the money that way?
    Thanks
    Originally posted by Flipflap
    I agree with sourcrates. As a gut-feel figure about 1 in 10 feels about right. But they would have to have some sort of reason to choose your account to spend money on.

    If you've been making regular payments and are offering a lump sum there would be little reason to spend money on you, particularly if there was no obvious way to enforce the debt and it is not near to going statute barred.

    In your case it's probably less than 1 in 10.
    • Flipflap
    • By Flipflap 6th Jul 18, 10:06 AM
    • 8 Posts
    • 1 Thanks
    Flipflap
    Thank you!
    Iíll let you know....
    • Flipflap
    • By Flipflap 9th Jul 18, 12:16 PM
    • 8 Posts
    • 1 Thanks
    Flipflap
    Hi
    Thanks again for all your help
    One last thing can i just confirm, my debts are not on any of my credit file as the debts are longer than 6 years old i have checked!
    They state on their letter that a partially settled score will be put on my credit file, there is no way they can actually do this is there?
    Thanks again!
    • fatbelly
    • By fatbelly 9th Jul 18, 12:42 PM
    • 12,973 Posts
    • 10,043 Thanks
    fatbelly
    Hi
    Thanks again for all your help
    One last thing can i just confirm, my debts are not on any of my credit file as the debts are longer than 6 years old i have checked!
    They state on their letter that a partially settled score will be put on my credit file, there is no way they can actually do this is there?
    Thanks again!
    Originally posted by Flipflap
    No, that's just a standard phrase on their letter. Once the entry has gone from your record it stays gone.

    A ccj does create a fresh entry
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