Lloyds Overdraft passed to Moorcroft. Overdraft is mainly interest and charges

[moneyworries]

I have been in a DMP for years and at the time of entering the DMP had an overdraft with Lloyds that totalled £1220.

The overdraft came about as a result of late charges from the initial period of my financial difficulty.

This was back in the day when penalties were £36 a time!

 

Since 2006 I have been in a DMP via Payplan.

Lloyds did freeze interest for a time but for the last three years have been charging interest.

 

 

Naturally I complained but they refused the complaint even though the DMP amount was less than the interest and so the debt increased to £1600.

 

 

Last month they suddenly decided to freeze the interest and informed me that they were passing the account to their internal debt recovery team.

 

This month I got a letter from Lloyds asking me to contact Moorcroft because the debt was being passed to them for collection.

 

Is there anyone who knows anything about whether Moorcroft can enforce this

given that there was a complaint underway about the interest serving only to increase the debt?

 

 

My feeling is that Lloyds stopped the interest only to be able to close the complaint so they could legally pass the debt on.

I just wondered if I had to pay Moorcroft (given that there is no longer a complaint ongoing)

or answer Moorcroft to explain the history of the complaint

 

Sorry to ramble!

[i hate bailiffs]

I had the same with Lloyd's some years ago

I got a refund of charges and money back from them

 

Write to Lloyd's formal complaint and explain how they have done nothing to help in financial difficulty

 

It may ba worth a tenner and send a subject access request off you will get akk the data and statements showing how this came about going back 6 years

Forget morecroft and deal vwith Lloyd's in writing

 

Are you still in the debt management?

[dx100uk]

Moorcroft cant do anything

they don't own the debt.

 

 

sorry but having read your other threads too

 

 

looks like you've been cash cowed for years on several debts.

 

 

dump PP do it yourself.

 

 

dx

[ThedaBara]

I had the same with Lloyd's some years ago

I got a refund of charges and money back from them

 

Write to Lloyd's formal complaint and explain how they have done nothing to help in financial difficulty

 

It may ba worth a tenner and send a subject access request off you will get akk the data and statements showing how this came about going back 6 years

Forget morecroft and deal vwith Lloyd's in writing

 

Are you still in the debt management?

 

I think you can ask for data (rather than statements) without paying a tenner for it...

[Bazooka Boo]

I think you can ask for data (rather than statements) without paying a tenner for it...

 

But you risk them redacting information and only offering info that goes in their favour.

 

As DX said, send a SAR to them directly, and dump your DMP, you can deal with this yourself, alternatively get PP to dump Lloyds from the DMP as they are acting unlawfully.

[dx100uk]

pp wont remove individual creditors

dump them totally

[fletch70]

As already said, Moorcroft are acting on behalf of Lloyds and can do nothing. They are not difficult to wrap up in knots so they pass it back to Lloyds .

[Bazooka Boo]

pp wont remove individual creditors

dump them totally

 

In that case then, that will be the only option yes.

[Guest]

I have been in a DMP for years and at the time of entering the DMP had an overdraft with Lloyds that totalled £1220.

The overdraft came about as a result of late charges from the initial period of my financial difficulty.

This was back in the day when penalties were £36 a time!

 

Since 2006 I have been in a DMP via Payplan.

Lloyds did freeze interest for a time but for the last three years have been charging interest.

 

 

Naturally I complained but they refused the complaint even though the DMP amount was less than the interest and so the debt increased to £1600.

 

 

Last month they suddenly decided to freeze the interest and informed me that they were passing the account to their internal debt recovery team.

 

This month I got a letter from Lloyds asking me to contact Moorcroft because the debt was being passed to them for collection.

 

Is there anyone who knows anything about whether Moorcroft can enforce this

given that there was a complaint underway about the interest serving only to increase the debt?

 

 

My feeling is that Lloyds stopped the interest only to be able to close the complaint so they could legally pass the debt on.

I just wondered if I had to pay Moorcroft (given that there is no longer a complaint ongoing)

or answer Moorcroft to explain the history of the complaint

 

Sorry to ramble!

 

they should've frozen, or at least reduced, the interest full time re financial difficulties. not much point in paying just the interest, let alone less. nice one PP.

 

if it hasnt been sold on to lesscroft, not much point in writing to them. they'll just pass it on to loyds. if you need to write/pay, write/pay to loyds.

 

has it been defaulted. full time interest freeze also usually follows a default, they'll prob be looking to sell it on if no joy re 'collection'.

[Bazooka Boo]

Good point, if it's been defaulted and more importantly ''Terminated'' then they cannot continue to add interest or charges.

[intend]

If it has been terminated, then check date of termination and reclaim any interest charged after that date