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old Company Natwest Bank OD - sold to Intrum - Moorcroft chasing me


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Hi all

 

This is the first time on this Forum as I really need some help regarding overdraft debt owed to Nat West bank and now it seems to a DCA - Moorcroft.

Unfortunately the tale is rather long as I try to make clear my case and I apologise in advance.

 

I had a Ltd company with my business partner who, after a very successful 1st year of trading wanted to develop the business into an another area.

I agreed on the basis that the new business would be a different entity and any monies used from the existing business to fund its start up would have to be repaid back to it.  A £20k overdraft was agreed with bank with us both as guarantors.

 

I was not too bothered about this overdraft as I knew we had business coming in which would more than cover this and we would still be in profit.

My business partner started to pursue this new business and travelled up and down the country and overseas to ''establish contacts and suppliers'.

However, after a year there was not a single sign of business from this venture except lots of lies and promises from him.

 

In the meantime, he did not do any work on the existing business which needed his input on standards, quality and on site inspections.

I tried to carry on the business from a home base but in the end we were thrown off our contracts because of his failings.

 

This left us owing on the £20k overdraft with no income coming in and I discovered that he was using the bank account as his personal ATM.

I tried to stop his debit card but told I couldn't because his name was on the account.  

 

I tried to close the year end accounts last April (2019) but he had failed to supply ANY receipts for any of his expenditure for the last 2 years, although chased by myself and accountants, leaving in effect a hole of £15,500 classed as his Directors Loan plus an outstanding one from the previous year.

 

He refused to speak to me for 2 weeks to discuss and then blamed the problems from the contractors, to the customers, then to accountants and then claimed it must have been my maladministration, taking no responsibility for his actions. 

 

Unable to close the year end accounts meant I also couldn't close down the company and therefore resigned from the business as the only way I could protect myself.

 

He was formally advised and he has done nothing with the company and it is still officially trading, although there is no activity.

However, he has not made it dormant - because he cant and has refused to change the registered address from the ex accountants so that creditors can't find him.

 

I was the only one who had contact with the bank, advising them of situation and of my resignation.

My business partner does not answer his phone and that was one of the many complaints from our contractors and customers.

Letters of debt arrived from Nat West addressed to Company.

I responded last Sept to advise that I was no longer associated with Company.

 

I was contacted in November by someone who only identified themselves as from Debt Collection regarding the outstanding amount.

I assumed they were phoning from NW Debt Collection Dept and explained the situation.

I also informed the caller that I was on long term sick suffering from depression as a result of the situation.

 

They checked on some system and said that they could see activity and financial transaction.

I asked what system this was and they said that they had access to something which shows activities of companies.

They then came back and said that they had decided to pursue the Company and not me for the debt.

I did not hear anything else since that call in November 2019.

 

Since then I have been assessed by DWP as being on long term sick and just gone through 6 months of therapy regarding the breakdown of business and potential debt from it.

 

Then last week I received a letter from NW and from INTRUM that the debt had been sold and that I had an outstanding amount of £2. Yes, £2 was stated in both letters. NW refused to speak to me but to Moorcroft who has got the debt from Intrum.

When I phoned Moorcroft the first words were 'so you're phoning about the £20k you owe.

How are you going to pay it' !!!

 

I complained to NW regarding the amount incorrectly stated and that I had had no notification that the debt had been sold and that I was being chased as the guarantor. You can imagine what this has done to my mental health.

 

They responded that they passed the debt over to the Debt Dept in Aug, 

that no one had spoken to me in November that they were chasing the company and not me,

that it is not their responsibility to inform me but that of the purchaser of the debt (even though they wrote to me last week) and that it shouldn't have been a shock because I knew of this outstanding debt.

 

The Company is still registered with Companies House and my ex business partner has phoenixed the company and using a different name but supposedly carrying out the same sort of activities.

 

I am on long term sick and receiving £113/wk with no means of paying anything off on this debt or prospect of working in near future.

I have had no communication regarding this debt or that I was being made responsible as one of the guarantors and I have read that under the code of lending creditors are not supposed to sell debt of a vulnerable person.

 

Where do I stand please?.

 

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  • dx100uk changed the title to old Company Natwest Bank OD - sold to Intrum - Moorcroft chasing me

1st  - never ever speak to a fleecing dca over the phone.

they will say anything to get money out of you.

 

a DCA is NOT A BAILIFF

and has 

ZERO legal powers on ANY debt no matter what it's type.

 

Natwest are one of the very few original creditors (banks) that do still do court occasionally.

 

and the fact that they have sold this debt on to intrum for pennies, typically 10p=£1, speaks volumes about how bogus they think the claim is.

 

as long as you have not moved since taking this OD out, then you are quite safe to totally ignore intrum (the debt owner) and moorcroft (chasing for their client Intrum) until or unless you get a Letter of Claim under the pre action protocol which they must abide by.

 

as for the technical ins/outs of if you do or don't actually owe the debt now you are no longer a director, but signed a personal guarantee, is not my field.

 

but there is no harm in sending NATWEST an SAR to get all the statements and account comms log etc etc to future protect yourself so you know the full story from their side.

 

dx

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Many thanks DX100uk for your advice.

 

I know what my responsibilities are as a guarantor, contrary to NW's condescending note to me but would question they on their practices or not communicating with me to inform that I was being chased personally as my business partner didn't respond.

 

Also they have denied responsibility for the debt from Aug 19 when they say they passed the debt on when I have a letter from them and Intrum that sale didn't go through til 31 March.

Also, I am in possession of a solicitors letter from December 2019 stating they were acting on behalf or NW.

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well moorcroft can act for any client that they state in their letters 

 

intrum (1st Credit) are predominantly a debt buyer now and wont normally don't just chase a debt for stated clients anymore.

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Yes I know Intrum has passed debt onto Moorcroft to do the chasing. 

They have advised that all communications on hold at moment as I have raised complaint

 

I am also just about to respond to NW as their letter raised more questions than allayed any of my concerns. Only concession they gave was that the quoted the wrong figure of £2. But why was same mistake on both letters and what if I were to pay the £2 as full and final payment?

 

I am also going to ask for SAR on all communication and sequence of events.

 

Thanks again

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Do you not have an address for this partner who is joint guarantor ? Was it a Limited Company ?  Have you retained a copy of the Guarantor Agreement ?

 

Andy

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Hi Andyorch

 

Yes I do have address and contact details for ex business partner. Yes it was a Limited Company but I have not got a copy of Guarantor Agreement as it was done online.

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And you dissolved the company with debts but not this one because of the Guarantor/s ?  Do the DSAR as advised as it may produce a copy of the agreement.

 

Did you not consider a Creditors’ Voluntary Liquidation (CVL) to deal with the above debt ?

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Andyorch

 

The Company was not dissolved because money was owed to it by other Director and therefore cannot close down accounts. I resigned as a Director but the other one did nothing and is still showing at Companies House as active, although he is promoting himself under another name.

 

I did not go IVA route because I wasn't being chased for money until I received letter from DCA last week. I don't really want to do IVA because I have 100% credit and this situation was not caused by me and would affect my credit for next 6 yrs.

 

I am asking for SAR and transcripts and evidence that I acknowledge debt as Nat West claims because I didn't. They're also claiming they have no evidence I spoke to them in November when I told them about my health and they confirmed they would go after the company and not me. If they deny this then it means that they had no contact with me since last Sept until last week which I think is unacceptable if they were supposed to be actively chasing a debt.

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  • 2 months later...

Hi Andy

 

Just a bit of update for you and you'll find it interesting I think.

 

I sent Nat West SAR. They came back and said after extensive search they cannot find any information on me or my liabilities. However, the very last sentence on their 2nd page said that if a debt has been sold then information will be with them.

 

I contacted Moorcroft who said they don't hold that information because they are only recovering debt as per instructions from Intrum so I should get in touch with them.

 

Phoned Intrum who said they wouldn't have that information as what they are given by Nat West is very basic and they should have it as they are obliged to keep info for 6 years.

I went back to Moorcroft who then took down my request.

 

I then received an email from them saying that they only act on behalf of Intrum and have sent the SAR to them to deal with.

 

Just for evidence I replied back to say that since that request was made to Intrum on 19 Aug 20 they have until 19 Sept to supply me with my request, So I am now waiting

 

Who should hold my data, do you know?

 

Annie

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what part of post 2 did you not understand.....?

please stop ringing powerless DCA's 

 

did you record the calls?

 

writing only

stop doing their job for them.

 

until or unless they produce the signed Personal guarantee by YOU 

ignore the fleecers..

 

dx

 

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Ultimately Nat West will hold the historic data...Intrum wont have anything and to be honest until such time you actually receive a LBC from Intrum or court claim I would forget all about it......even more so as Moorcroft are chasing the ambulance.

 

60197-200.png

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

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I want to show I've been cooperative and may end up taking this to Ombudsman

 

I have been off work on long term sick and advised Nat West of this last year and I should have been classified as vulnerable. As such, under the Code of Practice they should not have sold my debt to a third party.

 

They are chasing me even though the debt is owed by company which is still registered and I believe the ex partner is operating this business under a different name as well as another company in his Linkedin profile.

 

I want the SAR to prove my conversations and the fact that they have been chasing the company for debt, as they had advised me they would and then they entrapped me into making contact by sending me a letting saying I owed £2 and then to be told it's actually £20k and how was I going to pay it.

 

Bearing in mind I am suffering from mental health issues and they have not contacted me since November last year

 

I will now just keep my head down and see what happens from their side but if they don't produce the paperwork then its something else in my favour. However, I can;t believe Nat West said they couldn't find anything under my name!! If that's the case then do I not have any liability for the debt?

 

 

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which is why NW sold the debt...no proof.

 

there are no codes of practice (which are not rules) nor any rules anyway...that state a debt cannot be sold on even whilst under dispute.

so nothing the FOS or whomever you think might be able to rap their knuckles will ever do.

 

most of your issues now, can i point out, are of you own making and doing by contacting people trying to resolve the issue.

we call it pointless letter tennis, in your case pointless telephone calls that opens you up to the powerless DCA's saying whatever they like on the phone as you didn't record your calls?

 

they now know they have a potential mug that's very worried about what a totally powerless DCA debt buyer could do...which equals=ZERO.

 

they have no more legal powers than you or i, should we feel someone owes us money...and thats raise a court claim

but they need paperwork...a signed personal guarantee by you..

 

if NW haven't got it, then sure as eggs is eggs a powerless DCA won't have it either as debts are sold on with NO paperwork at all.

you are simply a line in a spreadsheet that the threat-o-gram DCA PC automictically spews mail out too.

but yours will have an extra bold red star by it as you are chasing them wanting to be mugged.

 

until/unless a letter of claim arrives...you sit on your hands.

 

 

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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