Debt Collection Agency in UK : Moorcroft Debt Collection Agency

In the debt collection industry, most Debt Collection Agency in UK or companies try to collect due debts from those who owe money. If you are a borrower and have not made the timely credit card payments, a debt collector might contact you soon. 

Sometimes, you might be cosigned a loan for someone else. Then also, you will be contacted by a debt collection agency for paying the due amount. 

Some of those overdue debts are credit card debt, medical debt, student loan debt, personal debt, and many more. So, debt collectors work as a third party to collect debts on behalf of your creditors. 

Popular Debt Collection Agencies in the UK

In the United Kingdom, you will find multiple debt collection agencies. So, to know more about these companies, you can go through the debt collection agency list working there. Some of the best agencies are Wescot, Direct Collection Bailiffs, Hilton-Baird, P and J Consumer debt services, Rockwell, Moorcroft, and many others.  

Now, based on the popularity, let’s dive into detail for Moorcroft and Rockwell debt consultancy agencies.

Rockwell Debt Collection Agency

Rockwell Debt Collection Agency is one of the most popular agencies in the UK. These work on behalf of other companies and that’s why they are termed as third party debt collectors. 

So, such companies might buy overdue debts from other firms as well. Some of them include banks, store card companies, loan companies, catalogues, and many others. 

You can get debt from the Rockwell Debt Collection Agency UK quite easily. Tessera Credit Services Limited is its parent company and the registration number is 2453485. 

This company has a total of 67 debts currently and 21 debts are frozen. There are 23 total debts for calculation. Also, the compassion rating of the Rockwell Debt Collection Agency is 73.04%. 

Moorcroft Debt Collection Agency

You might get calls from the Moorcroft Debt Collection Agency to clear your debts but you should not pay them. Otherwise, you will become a victim of their various collection tactics. These days, you might come across many aggressive debt collectors in the UK and this agency is one of them. 

Hence, you should not pay money to them as they use various methods to collect the debt. Besides, some of the methods are illegal as well. However, the Moorcroft Debt Collection Agency is a member of the Credit Services Association and it has passed the CSA’s Collector Accreditation Initiative. 

Will Moorcroft Chase you?

If you owe money to any creditor, then you might notice that your account details have been passed to this agency. So, even if you choose to ignore them but, they will chase you for paying the debt. 

Somehow, if you have not opened their letter or answered calls, they might take legal action against you. Sometimes, the agency will send their members to your home and might send you legal letters.  

What Action does Moorcraft Might Take Against you?

Moorcraft has all the legal powers like the original creditors. So, this debt collection agency will keep chasing you to get the repayment of the debt. But you should know that they have no right to call you at unreasonable times or harass in any way. 

Sometimes, you might contact them for communicating your certain requirements. If the conditions are reasonable, then they should respect that. 

But, when you fail to pay the amount, they might send debt collection field agents at your home. However, if they enter your home without proper permission, then you can take legal action against them. Also, they are not allowed to remove the goods from your house and you have the right to ask them to leave anytime. 

In certain cases, this agency might want a Country Court Judgement against you. So, for addressing that, you might have to go to the court. You might also notice that they are sending bailiffs in order to recover goods as compensation to the pending debt. 

When you are unable to pay them under any circumstances, they can even seize your home. So, you can’t stop Moorcraft from contacting you. However, you can deal with your debt in writing and there is no requirement to receive their calls. 

Hence, before investing in something by borrowing money, make sure that you can afford it. Otherwise, it might cause problems like huge debt situations in the long run. 

What Happens When a Debt is Sold to a Collection Agency?

When you are not able to pay your credit card debt, you will get nasty phone calls. Sometimes, you may even receive threatening letters from the creditor. Then, after a few months, you will not receive anything from him/her. Instead, you will notice the debt has been laid off to a collection agency. 

Reasons why the Credit Card Debt is Sold to a Third Party

After skipping your credit card payment in the first three to six months, you will receive phone calls and snail mails. At that time, you might receive a letter from a law firm. So, if you have not paid in six months, the issuer can take the following actions against you. 

Trying to Recover on its Own:

Most of the major banks will try to get back the money on their own. Because of that, they will keep calling you and send you letters for months. But, if their attempts to convince you do not work repeatedly, they might hire a debt collection company.

Selling Debt to a Collection Agency

If you are a debtor and stopped paying for more than three years, then the issuer will transfer the debt to a collection agency. So, many leading banks are there that sell some percent of their debts to a collection firm. 

Sue the Consumer:

If you are not giving the payments in time, the creditors might force you to move to the higher court. Basically, they do this in order to force you into default judgment. Thereafter, the court may order its own bailiffs to recover the debt from you. 

Know your Rights Before Paying a Debt Collector

There are many things that you should know about the debt collection industry. Before paying a debt collector, make sure that you know all your rights as a debtor. Let’s take a look at some of your rights while dealing with a debt collection company. 

Get a Written Notice Where the Debts are Explained

You should know that you have the right to obtain the proof of the debt in written format. This debt proof indicates the rights provided by the FDCPA. Besides, you should be aware of the following information. 

  • The amount of the debt and the name of the creditor should be written there. 
  • Make sure that the validation of the debt is mentioned there. 
  • Check whether the consumer’s written request is available or not. Sometimes, the original creditor’s name and address are different from the current creditor. In such cases, the debt collector will provide you all the details of the purchasing agency. 

Make Sure you Know the Debt Collector’s Name

Before answering a phone call or letter, first, check whether you know the debt collector’s name or not. If not, then make sure to know the complete details about him/her like the name or the agency’s name, address, etc. 

Remember that the debt collectors should mention the agency’s name beforehand. They should mention their business address as well. This will help you to check whether the collectors are scam artists or not. Otherwise, you can face unnecessary harassment from them. 

Sometimes, you might find the debt collector’s name suspicious. If this happens, visit your state’s attorney general’s office to find more information about the debt collection agency or agents.  

You Should not be Harassed

You need to keep in mind that no collectors have the right to harass you. Hence, there are many things that the creditors are not allowed to do and those we mentioned below. 

  • Creditors are not allowed to call you before 8 a.m or after 9 p.m. 
  • They can not use any abusive language and not allowed to threaten you. 
  • Debt collectors are not allowed to phone incessantly and hang-up calls. 

Sometimes, at the workplace, you might get calls from the debt collectors. You have the right to put the call to an end as your employer might not allow you to receive calls while working. At that time, the collector should not contact you anymore. 

Things to do While Dealing with Debt Collectors

Once you are able to know when a debt has gone to the collection agencies, expect that they will apply the subtle tactics to get the repayment. At that time, make sure to review your credit card report. 

There, you will find all your reported financial accounts and their status. Sometimes, you might find the debt via a collection agency and then do the following things. 

  • You should ask the collection agency for certain information about the debt. Make sure you know how much you owe through the original creditor or even the fees you need to add extra. 
  • You have the right to contact the original lender regarding the debt. They will help you to check whether it is the accurate collection company that’s contacting you or not. If you want to compare the letters, phone calls that you are getting, make sure to obtain the details of the collector. This includes his/her name, address, and phone number. 
  • After confirming that the debt is yours, try to fix a deal with the agency. That deal will help you to settle the debt by not paying a lump sum amount. 
  • Though there are certain limitations of debt, after a certain time you don’t have to repay it legally. 

Things to Consider if you are Selling Debts to a Collection Agency 

Sometimes, debt collectors might find it difficult to collect payment. At that time, they will hire a third-party company to collect the debt from you. Generally, these companies are specialized in it and they will contact you to get the debt. So, if you are a creditor and want to hire a collection agency, here is what you must be aware of.

Debt Purchasers 

Generally, creditors sell debts when they are unable to chase debtors. After selling the debts, creditors will be free from the chasing and they will not have any involvement in collecting it. Besides, selling the debts help the creditors to get some money back straight away. 

Agencies Making Profit 

You can find many collection agencies who buy debts. They will also chase debtors on the creditor’s behalf as it is one of their main tasks. Most of the time, creditors sell a large number of debts to a debt purchasing agency and the amount can be less than the face value. 

At that time, the debt purchaser will collect the full balance from the debtors. Thus they will be able to make their profit. For example, the price of debt might be £100 but the agency purchased it for £70. Hence, £30 is their profit. 

Generally, the selling amount of debts is kept confidential. Only the creditors and the debt collection agencies know about it. 

Rules not Changed after Selling Debt

When a purchaser buys the debt, your clients owe them the money.  However, make sure that the debt purchaser follows the same rules as the original creditor. Also, your clients will have the same legal rights. 

The debt purchaser is not allowed to add interest to the amount further. They are not even allowed to charge the customers for the debts. But, the original credit agreement might allow you to do so under certain circumstances. 

How to Know Whether a Debt is Sold to a Purchaser or Not?

When the debt is sold to the purchaser, the original creditor will let you know. At that time, the new owner will provide you with a legal letter. There, you will find complete details about them and how much you will have to pay the agency or purchaser. 

Most of the time, you will receive phone calls from them to let you know about the situation. But, you should not agree to pay them the amount that you can not afford at that moment. Otherwise, that will create trouble in the long run and extend your debt situation. 

In some cases, the debt collector might call you to inform that your debts are sold. Sometimes, the original creditor will call you to inform that and this is when you might need the debt advice.