Everything you need to know about Moorcroft Debt Recovery
Being contacted by a debt collection agency like the Moorcroft Group can be a rather troubling time.
Debt is always a tricky situation to find yourself in, particularly if you can't see an easy way out of it. There is light at the end of the tunnel though, and the team at NDH Financial are here to help.
We're a personal insolvency specialist, with our own licenced Insolvency Practitioner, with a focus on one particular form of debt relief known as an IVA (Individual Voluntary Arrangement). IVAs are designed for people with unpaid debt - particularly if you have unsecured debts worth several thousand pounds.
If you'd like to find out a little more about our IVAs, our IVA Learning Hub is the perfect place to visit.
And if you've already decided that you'd like to go ahead with applying for one, fill in our online form with your contact preferences and we'll get in touch!
Who Are Moorcroft Debt Recovery?
Moorcroft Debt Recovery Ltd is a debt collection agency. They buy debts from creditors and chase the debtor for the money that is owed.
Moorcroft Group PLC is a well-established brand - they’re one of the biggest debt collection companies in the UK. Their main office is based in Stockport, and they provide both consumer and commercial debt collection services.
If you're in debt, there's a good chance your debt will be transferred to Moorcroft Debt Recovery by your original creditors. In the event that this happens, a field agent will be assigned to your case and they will contact you in an attempt to collect debt repayments.
Important to note: the powers of a debt collector and a bailiff differ. As a debt collection agency, Moorcroft’s field agents are regulated and they have similar authority to that of your original creditor.
Are Moorcroft Regulated?
The Moorcroft Group is regulated and authorised by the Financial Conduct Authority (FCA) under the Consumer Credit Act 1974. They're also members of the Credit Services Association (CSA), which is a trade association for the debt collection industry.
What Debts Can the Moorcroft Group Collect?
As Moorcroft Debt Recovery collects both consumer and commercial debt, they have quite a large remit within the sector. They're one of the few debt collection agencies that can collect council tax debts and money owed to HMRC.
Moorcroft also collects for a range of commercial businesses across the nation, with some of their biggest clients including:
- United Utilities
- Virgin Media
Other debts that Moorcroft field agents collect include county court judgements and parking fines - however, they tend to focus on unsecured debt. The vast amount of different debts that Moorcroft can chase is one of the things that makes them one of the largest debt collection agencies in the UK.
Get in touch today
NDH Financial can help free you from the shackles of your debt.
Call us on 0800 002 9051 or apply below.
What Powers Does Moorcroft Debt Recovery Have?
If you've been contacted by an established debt collection agency like the Moorcroft Group, it's important to not panic. We understand that it can be quite a difficult situation to find yourself in, but getting familiar with the powers they have is the first necessary step.
The good news is that debt collection companies typically don't have that much power. Their remit usually only extends as far as your original creditors, although this may differ slightly depending on the form of debt they're collecting. Powers aside, refusing to write off your debt will have an impact on your credit file, so it's still a good idea to try and pay it off in a timely fashion.
If your creditors have sold a debt to Moorcroft, they have the right to contact you in order to try and collect the debt. They may send you a debt collection letter or contact you via phone. In some situations, Moorcroft may come to your home, but they'll usually try and contact you first.
You don't have to pay your debt with Moorcroft if you don't want to - if they arrive at your home, you don't have to let them in. The only situation in which this is slightly different is if your debt is the result of a county court judgement. However, bailiffs will usually be involved in these instances.
Debt collection agencies like Moorcroft Debt Recovery have a code of conduct that they must abide by.
Rules their agents must follow:
If you've been contacted by the Moorcroft Group and you feel that they haven't followed the guidelines set out above, it's advised that you report them to the FCA.
Can Moorcroft Agents Enter Your Home?
If a debt collector arrives at your property or sends you a debt collection letter, it can be a very scary prospect. It's quite common for people to associate debt collection agencies like Moorcroft Debt Recovery with bailiffs, but they're completely different entities.
Debt collectors can enter your home, but only if you allow them in. They're not allowed to act aggressively or try to force their way in - if they do attempt this, you should report them.
They're also not allowed to attend your workplace or contact you at another property other than your home residence. They cannot ask anyone else in your family to pay your debt.
Moorcroft agents are also not allowed to seize goods - they must only request monetary payments.
What Should You Do If the Moorcroft Group Attends Your Property?
If a debt collection company like Moorcroft Debt Recovery does attend your home, it's important to try and stay calm, no matter how worrying the situation may be.
Remember that you don't need to let them in or pay them outright if you don't want to. You can choose to speak to them through the door instead, or ask them to communicate via other means.
If you do decide to deal with them, you should be honest and clear, making them aware of what you can and can't afford. It may be worthwhile creating a realistic payment plan in advance of a visit, so you can go through it with them.
Before deciding to deal with a debt collection agency, you should check that the agent is a legitimate debt collector. Their field agents should carry ID on them at all times, as well as proof that they have been commissioned to collect your debt. If they don't have this, you should refuse to deal with them.
Can Moorcroft Debt Recovery Seize Your Goods?
It's a common misconception that debt collectors have the power to seize your goods. However, this is something that would come under the remit of a bailiff instead.
Debt collection agents can only take payment towards your debt in the form of money. Whilst you may be able to pay in cash, the preferred payment type will usually be via a card transaction or bank transfer. It's preferable to try and use a debit card to pay - by using a credit card, you'll only be transferring the debt elsewhere.
If you do decide to make a payment to Moorcroft, you should ensure you get a receipt with the date and timestamp written on it.
If Moorcroft's agents do attempt to take your goods or try to act as a bailiff, you should report them as this is illegal.
What About Your Car?
Debt collectors also can't take your car as payment towards your unpaid debts.
There are only two situations in which your car may be seized:
- If there is a county court judgement against you, and the debt collector is claiming payment for the debt associated with it
- If the debt you have is specifically related to your vehicle - e.g. if you have defaulted on your car payments
If you're unable to make the full payment at once, debt collection agencies have a duty to provide debt solutions and give advice on how to write off your debt. If you find that you can’t pay, they may ask to set up a repayment plan. However, there may be extra fees involved if you decide to do this.
Get in touch with NDH Financial today for a free consultation about your debts.
Call us on 0800 002 9051 or apply below.
What Happens If You Receive a Default Notice?
A default occurs when you break the terms of your credit agreement. For example, you may receive a default notice if you're behind on your payments.
A default notice is something sent out by your creditors as a warning ahead of your account defaulting. You’ll get a couple of weeks to pay the outstanding payments before your account is impacted.
However, though you’ll still have a period of time to make the payments, it's still important to address the default notice as soon as it's arrived so that you’re fully aware of (and prepared for) any further implications should the debt not be paid off.
If you are unable to pay the required amount, you should contact your creditors quickly and explain the situation to them. They may be able to set up a further repayment plan to help you get back on track.
Alternatively, you could consider other debt relief options such as an IVA. If you've received a default notice and you'd like to find out more about how NDH Financial can help you, get in touch today!
Can You Write Off Debt with the Moorcroft Group?
If you want to write off your debt with Moorcroft Debt Recovery Limited, you can choose to do so. If you've been contacted by them and you have the funds available, it might be easier to deal with them directly and ask them if they will accept a lower payment in settlement of the debt.
However, you don't have to do this if you don't want to. Instead, you could consider writing your debt off with your original creditors. There will often be additional fees added when dealing with a debt collection agency, so this could be a better option for you.
Another option is to look at other debt management solutions. At NDH Financial, we're a personal insolvency specialist that specialises in IVAs (Individual Voluntary Agreements).
If you've been contacted by Moorcroft Debt Recovery and the debts you owe are classed as unsecured debt, an IVA could be the perfect solution. Contact us today to find out more!
What Is An IVA?
IVAs are formal, legally binding agreements between you and your creditors. They're typically designed to be of use for people with outstanding debt over £7000, owed to multiple creditors.
IVAs are designed to ease the burden of debt repayment by consolidating multiple debts into one monthly payment (instead of having to pay different creditors every month). This can make the process of debt repayment a lot easier, taking the worry off your mind.
IVAs also offer legal protection. If you have an IVA, your creditors can't keep chasing you for the debt, stopping constant letters from arriving at your door. Your creditors also can't take legal action against you whilst you're using the scheme.
As your IVA details will be held on your credit file, it’s important to note that it will affect your credit score. However, this will be removed after six years.
IVAs only cover unsecured debt, and there are certain debts, such as child maintenance arrears and student loans, that can't be included - to find out whether you're eligible for the scheme, get in touch with us today!
Stop the Debt Collectors in Their Tracks
If you've been contacted by a member of the Moorcroft Group, there's no need to fear. Our debt consultants are here to help you through your troubles and talk you through the debt solutions available to you.
To find out more about whether an IVA might be right for you, check out our IVA Learning Hub.
And if you think you're ready to get started with your application, fill in our contact form today and we'll get in touch!
Get in touch with NDH
If you are interested in applying for an Individual Voluntary Arrangement, book a no obligation consultation with one of our debt consultants today.
How NDH Financial can help you with your debts
If you are worried about having to deal with the PRA Group or other debt collection agencies, our debt consultants can talk you through your debt repayment options.
We specialise in Individual Voluntary Arrangements and, depending on your circumstance, will be able to determine the best way in which to tackle your debts.
More information about IVAs can be found on our IVA Learning Hub, but there are several other debt solutions available if you don't think an IVA is right for you.
*Once the IVA is completed, all outstanding debts that are included are written off. There are some unsecured debts that will be excluded, such as court fines, child maintenance arrears and Student Loans, and you will need to make separate payments to these. As the IVA will only cover unsecured debts, you will need to continue making payments to secured creditors both during and after the IVA.
Do You Have Any More Questions?
Our IVA Learning Hub Can Help
We know you might have questions and that’s fine.
We can answer most of those on our call.
But we’ve also built our learning hub so that you can learn more about an IVA and see if one is right for you.
Click below to check it out.