Ok so i am in debt to Moorcroft debt recovery for around £2300 (for a bank loan with RBS). They demand £127 a month, i am a student and work part time, i cant afford this and they wont budge, i cant even decrease my payments so i can save up to pay it off in chunks. I am financially, physically and mentally exhausted by this company. i need help with this.
If you have any other debts then you may be able to approach a Debt Management Company who should be able to sort something out for you and deal with Moorcroft on your behalf. If not, then maybe a vist to your local CAB would be in order. They should be able to prepare a budget for you to enable you to offer Moorcroft something, and also give you templated letter(s) to send them. If that is your only debt then it is probably not worth seeking a bankruptcy or Debt Relief Order, but be aware that, legally, creditors must accept payment made in reduction of your debt, even if they are unhappy with the amount.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Hi and welcome to the Forum.
Ultimately there is very little that Moorcroft can do as you appear to have little income and no assets. Do a proper income and expenditure and offer what you can afford and do not pay anything until they accept it in writing.
I agree with Michael. Offer what you can and don't be bullied by the call centres.
Sharing from experiences of dealing with debt
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