Getting Help With Debts
Often, when your debts reach the stage of an outside agency getting in contact, things may have unexpectedly gotten out of control. This doesn't necessarily mean that you meant for that to be the case; there are many reasons people find themselves in debt, but keeping in contact with us means your situation is understood and suitable arrangements can be made.
Our approach to collecting debt is simple, we'll be honest with you and do whatever we can to help.
I Can't Pay
We know that it can be difficult to juggle your finances; making decisions on how and where you spend your money is always tough, especially if your budget is tight.
Your creditor passed us your debt as their attempts to satisfy their account have been unsuccessful. It is likely, although not always the case, that your credit rating has been affected, so now is the time to prioritise to prevent any worsening of your credit report.
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Talking to us is the first step in becoming debt-free
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There are lots of options available to help you through, like making a payment arrangement that is realistic for both you and your creditor.
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Other options including providing breathing space for payments based upon evidence of your income and expenditure. We can temporarily suspend further damaging updates to your credit record and offer referral to free debt advice services that can work with you and us to settle your debt.
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Getting debt advice
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We regularly refer residential consumers to free debt advice services so that they can work with you to settle your balance.
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What do these free services offer?
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Normally these services offer access to a
Debt Advisor who can assist you through the process of getting on top of your finances.
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Importantly they will:
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Never judge you or your situation.
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Suggest ways to deal with debts you may not know about.
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Find smart ways to help manage your debts even if you think that you have no money to spare.
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Will always be happy to talk to you, no matter how big or small the problem is.
Debt Advisory Services
I Don't Agree
with the Debt
Sometimes we are passed details of debts incorrectly; whilst this is very rare, the value of the debt or the validity of the debt can be disputed.
You will need to bear in mind that we have been passed your debt because attempts to satisfy your account by your creditor have been unsuccessful over a reasonable timescale.
Before we raise a dispute with your creditor, we ask you to consider the following:
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We may have traced this debt from a previous address; it can be a surprise when you are confronted with something unexpected. It doesn't mean it is not owed.
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Creditors may have applied additional charges to your account for non-payment as per your contract. These will have been added to, and included in, the balance we are pursuing.
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Disputing the debt without good reason can be seen as a delaying tactic; meaning terms of any payment arrangement may be more difficult to negotiate - as we approach every contested debt with the assumption that the person raising the dispute is being honest.
Joint and several debts can be enforced in full against any of the parties involved. If you had a joint debt with a business partner, life partner, friend, spouse or house/room mate; it is up to the party who pays to recoup costs from the other(s). Payment for your 'part' will not stop proceedings against you personally.
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Be clear, and calmly explain which part you disagree with. For example, if you agree with part of the balance, then it's a good idea to let us know how much of the debt is NOT in dispute.
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We will need to contact your creditor with any new information you may have to help dispute. We expect any documentation supporting your dispute within 24 hours of raising your dispute. Failure to provide this information means we will assume there is no dispute and we will continue with proceedings.
Dispute Do's & Don'ts
Get Prepared
Find the last statement or bill from your creditor. Then check your credit card / bank statements (or paying-in books) to confirm when you last made payment - often final payments are missed completely by accident.
Don't Contact the Creditor Directly
When your debt is passed to a collection agency, the supplier of goods and services is often unable to discuss your account. Speaking to us directly will save you time and effort in the long run.
Pay Something
If you disagree with the amount of the debt, but agree that you do owe money, it is looked upon more favourably if a token payment is made during the dispute process.
I Don't Want
to Pay
The harsh reality is that if you have taken goods or services, you have to pay for them. Not facing your debts can make things worse and make getting goods or services in the future far more difficult.
Don't Bury Your Head in the Sand
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Negative marks on your credit file last at least 6 years, during that time your access to credit is likely to be disrupted. If you are able to get credit, it may be at a more expensive rate. Your credit rating is very important when applying for a mortgage for example.
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Prospective employers may be put off by bad credit history. For certain jobs such as Law, Finance, Police, and Army; employers can ask to see your credit report, especially if the role involves handling large amounts of money or has a large amount of responsibility (note: This list is not exhaustive).
Take control of your situation by paying as much as you can to clear your debt. The earlier you make a payment, the likelihood of further long term damage to your credit file will be reduced.
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Being Debt-Free is a Great Feeling!
