Why Is Moorcroft Debt Recovery Limited Chasing My Wonga Loan?

Q: Why is Moorcroft Debt Recovery Limited chasing my Wonga loan? ~ Terry, Manchester.

Starting with an intro, Moorcroft Debt Recovery Ltd (MDRL) has been the UK’s leading collector of consumer debts over much of their history that began back in 1985. Their dominance has however been overshadowed more recently by the Lowell Group though their Interlaken Group acquisition. Anyway, this Stockport-based collector operates across a range of markets. Both financial and telecoms have been a key focus where they purchase defaulted accounts from the original creditors. Regarding financial, they are mostly associated with big banks such as Barclays and NatWest. They aren’t generally affiliated with payday lenders, with Wonga being the exception. With telecoms, they are commonly linked with EE and Virgin Media.

Unless there has been some kind of error, it would be assumed that your Wonga balance was in arrears that resulted in the sale of the account. This sale would have been made at a discounted rate, although it is common for the full balance to later be chased. Now that the handover has gone through you won’t be able to pay the lender if you were still hoping to come to an arrangement with them. You will now have to pay Moorcroft Debt Recovery Ltd to clear the arrears online or by phone. Their company website is www.moordebt.com, but they take payments through MDRL that you’ll find at www.mdrl.co.uk.

When you visit MDRL you’ll see that the design is very basic, but they importantly use encryption there. If you’d initially prefer to query the balance or arrange a repayment plan then you’ll need to reach one of their advisors on the number of 0161 475 2970. The transfer of the account should have been put in writing and correspondence from the agency should have explained the situation further. You may have recently been contacted through their Pre-Court Division. Whether they’ll head through the courts is unlikely, but it will be important to settle the matter as this will get you a satisfied status on the credit default that would have been assigned.