Loan passed between 2 banks and now with Moorcroft - Help needed

[acer67]

Hi all,

Looking for some guidance on next steps.

I took out a 25k loan in 2022 from Sainsburys bank. I later fell out of work and the loan defaulted. At the time, I briefly set up a payment plan but was unable to maintain it once I lost my income.

Since then, I haven’t made any payments and Sainsburys didn't chase me - no contact for around three years.

Recently, NatWest took over Sainsbury’s Bank’s books as I think Sainsburys bank shut down. Shortly after this, I received letters from Natwest confirming the account had been closed, and I’ve now been contacted by Moorcroft, who say they’re acting on behalf of NatWest and that I owe around £25.5k

Key points:

• The loan defaulted several years ago
• Loan originally with Sainsburys, gone to Natwest, Now with Moorcroft
• No payments or written acknowledgement for ~3 years
• Moorcroft are asking me to contact them to arrange payment

Before I do anything, I wanted to check:

• Am I right in thinking Moorcroft don’t own the debt and are just collecting for NatWest?
• Is the correct next step to send a CCA requets and should that go to Moorcroft or NatWest?
• Does submitting a CCA request constitute acknowledgement of the debt or affect limitation?
• Given the lack of contact for years, is there anything else I should be aware of before responding?

I don’t want to ignore it, but I also don’t want to make a mistake by engaging the wrong way. I intend to keep all correspondence in writing and have not engaged by telephone.


Any advice appreciated.

Thanks.

[atticus]

1. One post is enough.

2. Can you please post the letter from Moorcroft.

3. If you took out the loan in 2022 you would do well to start considering what you can do to repay.

[acer67]

1. Apologies, I was unsure which sub to post in.
2. Letter attached
3. Understood - I'm not avoiding repayment. I'm trying to understand the legal position before engaging, given the debt has moved between lenders, there's been a long period of no contact, and a third-party collector is now involved.

[PallasAthena]

The letter is clear that NatWest own the debt. Moorcroft are just employed by NatWest as a debt collector ("collection agent"), they don't own your debt.

Making a CCA request is not a written acknowledgement of the debt and does not affect Limitation. At this time you are long way from debt being statute barred anyway. If it is only 3 years since the original default then it won't be statute barred for another 3 years if you do nothing. However if you make any payments, which you appear to be considering, that would re-start the statute barring clock.

[Ellzy]

1. Apologies, I was unsure which sub to post in.
2. Letter attached
3. Understood - I'm not avoiding repayment. I'm trying to understand the legal position before engaging, given the debt has moved between lenders, there's been a long period of no contact, and a third-party collector is now involved.

you've not contracted with moorcroft only Sainsbury's, despite them buying it.

[PallasAthena]

you've not contracted with moorcroft only Sainsbury's, despite them buying it.

Moorcroft haven't bought the debt.

[atticus]

... They represent Nat West, as has been stated above.