DC taken on debt....

[Tweedy]

Hi there, quick question - if DC have taken over a debt that I have been paying consistently for years and I start paying them, will that either show up on my credit file or adversely affect my credit? The debt is over 8 years old, but I have been making regular payments as I say, so under no illusions re it not being statute barred... I guess having managed to get my credit file looking healthy again, I don't want to jeopardise that - I don't mind making the payments, I just wondered if changing from paying directly to the DC will make any difference in that respect? The DC said no it won't because its over 6 years old and will have dropped off my credit file now anyway......what do you think? Thank you!

[echat11]

Hi Tweedy

Welcome to LB

The same debt should * NOT * appear on your credit file twice, in saying that it does happen. Especially when the debt is sold and the new Creditor decides to mark the Credit File. In your case it's the DCA taking over the management of payments, so providing you make payments, there shouldn't be an effect on your Credit File.

A nudge from Atticus*

[atticus]

I think Echat11 meant to say: The same debt should NOT appear on your credit file twice

[echat11]

I think Echat11 meant to say: The same debt should NOT appear on your credit file twice

Thanks.

[Tweedy]

Hi and thanks for your replies! I am a little concerned as there doesn't seem to be anything definitive that I can rely upon. Even the DC weren't particularly clear and kept asking for my details, which I am not prepared to offer just yet. Is there any way I can be sure that assenting to the DC request will not have any adverse effect on my Credit File? Sorry to bump!

[Tweedy]

A little more details that might help indicate how I should proceed? The Credit Card was defaulted (i.e. I started to offer less than the statutory payment) back in 2014. I have made regular payments since then directly to the Credit Card company. They have now sold it on to Moorcroft. Does that help at all?

I am happy to shift the payments to Moorcroft, but, as I say, concerned that they register it as a new debt? I understand that they cannot register it as a new default though as it was defaulted back in 2014 and I have yet to make a payment to Moorcroft so its impossible for them to claim I have defaulted with them.

Hope that makes sense?

[MIKE770]

moorcroft are only debt collection hopefuls not owners they cannot place details on CRA files only owners can.

[Tweedy]

moorcroft are only debt collection hopefuls not owners they cannot place details on CRA files only owners can.

Thanks, not owners despite buying the debt?

[echat11]

Are you in a position to make a Full and Final Settlement? i.e. a fraction of the outstanding amount. I think there is a possibility they may send you discounted offers to settle the debt..

[Tweedy]

Are you in a position to make a Full and Final Settlement? i.e. a fraction of the outstanding amount. I think there is a possibility they may send you discounted offers to settle the debt..

I could negotiate with them, if it means I would avoid a negative entry on my credit file....but can they do that anyway given the default was in 2014, I had made regular payments. It no longer shows on any of my credit files.

[echat11]

I could negotiate with them, if it means I would avoid a negative entry on my credit file....but can they do that anyway given the default was in 2014, I had made regular payments. It no longer shows on any of my credit files.

Read post 2, your Full and Final Settlement offer will state, that the offer is made on the condition that no adverse entries will be made on your credit file.

This is an example of a F & F Settlement Offer, you will clearly state that the settlement offer will only be made providing they steer clear of your credit file, you will get a letter excepting your conditions. Start with a low offer, discount the debt by 90%.


https://nationaldebtline.org/sample-...tlement-offer/

[Tweedy]

Read post 2, your Full and Final Settlement offer will state, that the offer is made on the condition that no adverse entries will be made on your credit file.

This is an example of a F & F Settlement Offer, you will clearly state that the settlement offer will only be made providing they steer clear of your credit file, you will get a letter excepting your conditions. Start with a low offer, discount the debt by 90%.


https://nationaldebtline.org/sample-...tlement-offer/

Thank you, I assume talking to them won't make things any more difficult for me, given that they have all my details anyway? I have steered clear of offering them a reference number when talking to them or any other information - am I overthinking that bit??

[echat11]

Thank you, I assume talking to them won't make things any more difficult for me, given that they have all my details anyway? I have steered clear of offering them a reference number when talking to them or any other information - am I overthinking that bit??

Send letters, make sure you mark them 'Without Prejudice' and make sure you get Proof of Postage.

Speaking over the phone relies on them being honest and upfront, that can get you into a 'pickle', unless the call is Recorded and you can get access to the Recording.

[Tweedy]

Send letters, make sure you mark them 'Without Prejudice' and make sure you get Proof of Postage.

Speaking over the phone relies on them being honest and upfront, that can get you into a 'pickle', unless the call is Recorded and you can get access to the Recording.

Thanks again ECHAT11

[Tweedy]

The link to the letter offering payment (https://nationaldebtline.org/sample-...tlement-offer/) suggests I ask them to make changes to my credit file to reflect the settlement - there isn't anything on my credit file, and I am concerned by requesting the make such a change I might be creating the very scenario I want to avoid? Would it be best to let sleeping dogs lie and continue to make very nominal payments? I am of course in your hands regarding advice!