How to deal with Moorcroft Debt Recovery
Written by Will Lyon on 10 May 2019
Who are Moorcroft Debt Recovery and why have they contacted me?
Moorcroft Debt Recovery Limited are a debt collection agency that buys debt, in bulk, from finance companies. They then try to collect these debts from businesses or individuals, and use a variety of tactics to do so.
As one of the leading debt collection companies in the UK, Moorcroft collect for a wide range of companies. Some of the more well-known include HMRC, Npower, Virgin Media and O2. As they work with some of the most popular service providers in the UK, many in debt could find themselves coming into contact with Moorcroft.
If you have been contacted by Moorcroft Debt Recovery, it will usually be because debt of yours has been bought by them, and they are trying to collect it. Although Moorcroft collect a huge variety of debts, one of the most common we see individuals having trouble with are payday loans and credit card debt.
What can they do?
According to their website, Moorcroft deal with 1 million customers at any one time, so they will be working hard to collect any debt owed to them in a timely manner.
Although their claim to be owed money might be well-founded, the Financial Conduct Authority (FCA) has a strict protocol when it comes to debt collection. For example, the rules put in place by the FCA state that any debt collector cannot unlawfully pressure you into paying a debt.
If debt collection companies fail to retrieve the full amount from you without question, they may use a variety of tactics to get you to pay up:
- Claiming the debt is in the hands of the court and that it needs to be paid immediately; debt collection companies do not always have the same legal powers as bailiffs, so it’s always important to check the legitimacy of a claim first.
- Contacting members of your family/work colleagues (or threatening to); debt collection companies are not allowed to do this.
- Constant phone calls at unreasonable times, when legally they can only contact you between 8am and 9pm.
- Posting you documents that look like official court claims, when in reality they are just standard letters that hold no legal weight whatsoever.
- Claiming that the debt must be paid immediately, and that there’s no time to consult debt advice companies such as ourselves.
If you have received any phone calls or letters you are unsure of, get in touch today to see how substantiated these claims actually are. You can also visit our website for further debt collection advice.
Any queries you’d like to discuss with one of our advisers? Call us on 0808 278 3229 for free impartial information.
What can I do?
If you are being chased by a debt collection company, you must act on it as soon as possible. By continuing to ignore companies such as Moorcroft, you may incur late charges or interest on the outstanding debt. In some cases, the extra fees/charges could even be more than the sum of the original debt, so it’s vital to act quickly to resolve the issue.
If you’re being put under pressure by Moorcroft or any other debt collection companies, get in touch with PayPlan today. Our team of trained advisers will be happy to explain the wide range of debt solutions you may be eligible for.
One solution perhaps best suited to those being put under pressure by creditors is an IVA (Individual Voluntary Arrangement).
An IVA is a form of debt repayment plan, in which we will liaise with your creditors on your behalf. Whilst in an IVA, the creditors included in your IVA or their collection agencies will not be able to chase you for repayment. Furthermore, we will work with your creditors to formulate a debt repayment plan tailored specifically to you.
To learn more about IVAs, or any of the other debt solutions we offer here at PayPlan click here
Are you being harassed by debt collectors? Do you feel the debt is justified but you know you’ll be unable to pay it? The worst thing you can do is bury your head in the sand.
Filed under Debt Facts