Hi there, I think I could be in a rather sticky situation with RBS regarding my VISA with them.. Let me explain...

Last year I took out a RBS Credit Card around March with 6months interest free, It had a limit of £400. At this time I was living at a different address in Wales. I moved from Wales to Essex around May time and kinda forgot about the Credit Card. I had spent approx £350 on the Card and I forgot to update the address when I moved, so any letters etc have been going to the old address (I assume).

I now think is high time I sort this out but I would like to know what I can expect to owe them?

There is no direct debit set up to pay off the card so basically it has been left with a balance of approx £350 on it since last May.

I assume they will have added no payment charges for each and every month since then? I am slightly worried that they may have got bayliffs involved or something to try a and reclaim the money but havent been able to find me? That may be a bit of pessimistic thinking?

I just want to clarify what is likley to happen when I write to them explaining the new address.

Many Thanks

Ben

Hi there,

Its kind of hard to say what will have happened to the bill. I would advise sending an SAR request to them along with your change of address ( look in the templates library for a copy) along with a £10 Postal order so you can at least view your charges and whats been happening on your balance.

If they have charged you, you could attempt to reclaim them. I would read through the FAQ's etc to give you an idea of whats involved.

Hope this helps

It's impossible to say what the balance will be now & to predict what RBS will have done about trying to collect the outstanding amount or what charges you will have incurred. They may have withdrawn the 6months interest free offer as you did not pay - this is often in the T&C of this sort of offer.

you will probably find they will have defaulted you for the debt & entered a note on your credit file. They may have even passed the debt to an outside agency for collection.

As the maxibon said you could go down the SAR route or even just call/write explaining the situation & ask to be brought up to date on the account etc. By going the SAR route at least you will have copies of your statements so you can see exactly what you have been charged and this will hopefully assist you claiming back some of the charges.

I think the key thing when you owe someone money is to talk to them & try & arrange a re-payment plan - hopefully they will be co-operative with this. If they've passed on the debt then they should give you the new contact details to try & arrange this.

Obviously once you contact them & tell them where you are then you are comitted to paying this back - I spose it's probably only a matter of time before they 'find' you anyway tho isn't it?? Dunno how these things work tho if I'm honest!

Good luck with everything & I hope you manage to get something sorted soon

Personally, I wouldn't send them a letter first. What will they do if they get a letter from you explaining a change of address? Will their priority going on giving you a status update or chasing you for your debt? Your debt of course.

Ring them up and ask for a status update, try and avoid answering where you've been. See what they - have you been defaulted, what is the balance, who is managing the account atm. Once you know where you stand, tell them you will ring them back regarding repayment and stuff. Don't give them your new address now, wait until......

Send off an SAR requesting your statements. Expect a barrage of letters through the post once you've done that! Hopefully you won't have to wait too long for your statements and the quicker you get them the quicker you can send of your prelim. If by some miracle they haven't brought in the DCA, you can write on your prelim that the account is in dispute, this will then stop them being able to instruct debt collection.

Get a lot of reading in about successful claims where they have had defaults removed as you might need the knowledge. I would expect a late payment and over limit charge every month since you left it. Plus your interest, plus a couple of service charges probably.

Man is that going to be a big statement to send back!!

You could even skip the phonecall by checking online? Were you regsitered for Internet Banking? If not, see if you can register without having to speak to anyone. Worth a shot.

Oh jesus, sounds like this is going to be bad!

What does it mean to be defaulted?

Thanks

Well it's not good for your credit rating......

Default (finance) - Wikipedia, the free encyclopedia

As part of your claim you will be able to request this to be removed (I think) as the default will be as a result of bank charges.

OK, I am going to ring them today..

Should I not ring them and set up a direct debit to pay off the min a month to keep them at bay in the meantime? Could I request the statements over the phone? The account is less than a year old so there shouldnt be too many for them to sort out!

If it has gone to an outside agency I assume there will be alot of charges by them added which I may have to pay?

Not looking forward to this but It needs sorting!

Many Thanks

OK, I am going to ring them today..

 

Should I not ring them and set up a direct debit to pay off the min a month to keep them at bay in the meantime? Could I request the statements over the phone? The account is less than a year old so there shouldnt be too many for them to sort out!

 

If it has gone to an outside agency I assume there will be alot of charges by them added which I may have to pay?

 

Not looking forward to this but It needs sorting!

 

Many Thanks

I think you're probably past the minimum payment stage as they will have defaulted you for the full amount. Once you get your statements & work out what charges you will be claiming then once your prelim is sent your account will be in dispute by you.

This hopefully will buy you some time as there are grey areas over persuing/defaulting accounts in dispute. You could always try & reach some agreement over a repayment plan if you wish as once this is sorted you will still owe them money & I spose it's all gonna come off the balance ... the sooner you start paying n all that.

The general advice is don't ever set up d/debits to lenders (except your mortgage) this way you control your money not them

Good luck - keep us updated

PS - DON't give them your telephone number ... not even a mobile - They will hound you forever & they realy are not entitled to have it ... just tell them you don't have one!

OK I have just got off the phone with them, sorry 'chezt' i didnt read your post in time..

Basically RBS have given the account to a company called Morecroft who are now handling it. The ballance is £428.27 (less than i thought)

I spoke to Morecroft and they havent added any charges nor are they about to, they have set up 3 payments to clear it, i plan to pay the first payment on friday.

Now, what I need to know is, is it best for me to pay off this debt then claim back all the charges from RBS? I will send off a SAR today and see how much of that is charges (im guessing around £100) and also if I am defaulted!

What do you think?

No point - the debt is no longer with Halifax so go get em....

If you send away for a credit file (from experian) you will be able to see the extent of the damage. It costs 2 pounds.

Sorry I dont quite understand? There is no point doing what?

No point paying it off or no point trying to claim the charges back?

Sorry for sounding dumb, I just really want to understand for future etc..

Also how long would it take to re-build my credit score back up?

Many Thanks

Lol, sorry was a bit ambiguous. No point in waiting. Get your S.A.R - (Subject Access Request) off NOW!!!

Repairing your credit score might be as simple as sorting this claim out. Read up on successes with defaults being removed in the successes folder. Not really my area of knowledge but I know people have their defaults removed as part of this process.

If it isn't removed from this, the default is on your account for 6 years. Unfortunately, it might prove to be a lot more expensive than the extra £150 in charges as it will affect your chances of getting preferntial rates on credit. Sorry to be the bearer of bad news........all the more reason to understand what you need to do to get it removed.

Ah I see thank you..

So how do I actually find out if I have been defaulted? Should I ring them back and ask? I guess I need to know this before i send off the SAR?

Cheers

Don't really need to know right now. Your SAR won't be any different.

In the meantime you can find out by applying for your credit file from experian. If you do it on their website, it costs and pound and you should have your file in 10 days I think.

Right ok I see..

So I include the request to remove the default in the prelim, lba and money claim then?

Thanks for your help, I think I am understanding this a bit better now..

If that what it says in the instructions.......I don't know because I've not had to use it. Of course, you need to get that credit file first so you can find out!

Right ok I see..

 

So I include the request to remove the default in the prelim, lba and money claim then?

 

Thanks for your help, I think I am understanding this a bit better now..

If you are going to request default removal in your POC then you will have to use the N1 route as the form on MCOL will not have enough characters - it's limited to how much you can use on the online form

Hi a small update to this,

Today I rang Moorcroft to make a payment! (I had arranged a 3 payment plan) i.e £428.27 slpit into 3.. Only they today offered me a £85.65 discount to settle the account today which worked out at £342.62.. Obviously I accepted and paid it all off to close the account..

Now, is this common? And could this effect my claims with RBS? I mean who has written off the £85.65? RBS or Moorcroft?

I am glad that I have settled up and actually saved money in the proccess!

Hi a small update to this,

 

Today I rang Moorcroft to make a payment! (I had arranged a 3 payment plan) i.e £428.27 slpit into 3.. Only they today offered me a £85.65 discount to settle the account today which worked out at £342.62.. Obviously I accepted and paid it all off to close the account..

 

Now, is this common? And could this effect my claims with RBS? I mean who has written off the £85.65? RBS or Moorcroft?

 

I am glad that I have settled up and actually saved money in the proccess!

Sounds a bit strange! Are they going to send you confirmation that the debt is cleared & update your credit file??? I've heard some companies agree to 'write off' debts but that they still sorta leave it outstanding but it's just an agreement not to chase it. This may not be the case here as they prob bought your debt from RBS for less than you owed anyway. There are lots of posts on this forum about Moorcroft so I would have a read around if I were you to see if this is usual practice.

I'm sure there are lots of folk with moorcroft experience who can help.

__________________

Feel free to click my scales if I have helped you

Yes they are sending me a recipt and confirmation that the account is now closed. Happy days i think.

So what would happen with RBS now, I guess moorcroft tell them ive paid up? is my RBS still active or would they have stopped it? I dont know what usually happens once you pay up to a DCA?

Cheers

Ok this is the way it works. If you settle with a credit referral agency for less than the outstanding debt, that debt will remain on your credit file forever. However it will state that it is settled.

If you pay off the WHOLE thing, it will be removed from your record after the standard 6 years.

This sounds kinda weird? They are the ones who offered me the discount, its not like I asked for a discount..

How can I get it removed off my account? or if not what are the implications of having it there? and will the fact that it is 'settled' not hold a possitive point for me?

This sounds kinda weird? They are the ones who offered me the discount, its not like I asked for a discount..

 

How can I get it removed off my account? or if not what are the implications of having it there? and will the fact that it is 'settled' not hold a possitive point for me?

I know it's wierd and I don't fully understand the process myself which is why I suggested you do some reading about it.

I personally wouldn't have settled the account at this time as if you are going to be re-claiming charges then the balance is not a true reflection of the actual debt as it includes charges. In your prelim letter you could then have said (you can still probably do this) that you wanted the default removing from your file as it is inaccurate information that has been transmitted. Also if a debt is in dispute then it can not be enforced.

I don't know if paying off this with moorcroft will affect the default removal - as I say you'd be wise to have a good read around and try and understand the situation more from others who have been in a similar position.

As for your other question - I don't think Moorcroft will let RBS know you've part settled the debt as they no longer have any interest if they've sold it to them.

Have you sent the S.A.R - (Subject Access Request) yet to get copy statements so you can make a start on claiming back the charges ... I think this should be your next move .... also I would try & get a copy of your credit file to see exactly what is recorded on it ... wonder how long it will take Moorcroft to update it following your payment.

Hope I've helped in some way

ps - Here is a link to someone who had dealings with Moorcroft ..

http://www.consumeractiongroup.co.uk/forum/other-institutions/54293-marshal-wards-some-company.html

there is a guy on there who seems to know all about them ... may be worth pm'ing him a link to your thread ... ? GOOD LUCK

Hi a small update to this,

 

Today I rang Moorcroft to make a payment! (I had arranged a 3 payment plan) i.e £428.27 slpit into 3.. Only they today offered me a £85.65 discount to settle the account today which worked out at £342.62.. Obviously I accepted and paid it all off to close the account..

 

Now, is this common? And could this effect my claims with RBS? I mean who has written off the £85.65? RBS or Moorcroft?

 

I am glad that I have settled up and actually saved money in the proccess!

I dont want to burst your bubble or anything but you could have got a LOT more discount than that if you had haggled more with them probably close to half. I would MAKE sure they do write off the 'discount' as so Many times we had calls where it had ended up being passed to another DCA months later.

Moorcroft can send you a letter to confirm it has been settled as a full and final so I would check they do this and check the credit your account with the write off too.

Also would check your credit file as it may not show as 'fully satisfied'...Moorcroft purley working on bonus again shines through they want your money however way they can do it. Someone will get a good bonus this month!!!

I dont want to burst your bubble or anything but you could have got a LOT more discount than that if you had haggled more with them probably close to half. I would MAKE sure they do write off the 'discount' as so Many times we had calls where it had ended up being passed to another DCA months later.

 

Moorcroft can send you a letter to confirm it has been settled as a full and final so I would check they do this and check the credit your account with the write off too.

 

Also would check your credit file as it may not show as 'fully satisfied'...Moorcroft purley working on bonus again shines through they want your money however way they can do it. Someone will get a good bonus this month!!!

Ahh well.. hindsight is a wonderfull thing!

So your saying they 'should' write the debt off but they may not and I should get a written confirmation from them just in case.. And if they havent totally written this off, can I request them to?

So I take it I am now all squared up with RBS, meaning that I dont owe them a bean and I am free to chase them up for any charges 'they' applied to the account 'before' Moorcroft bought the debt?

Again sorry for all these questions but I finally feel I am getting closure on this whole thing!!