Debt Managers Ltd Debt Collectors – Should you Pay?
For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.
For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.
You’ve received a letter from Debt Managers Ltd Debt Collectors, and you’re feeling a bit lost. Don’t worry, we’re here to help.
Every month, over 170,000 people visit our site to find answers about debts. In this article, we’ll guide you through:
- Understanding why Debt Managers Ltd Debt Collectors are reaching out to you.
- Figuring out if you really owe this debt.
- Learning how to respond if you can’t or don’t want to pay.
- Exploring the actions Debt Managers Ltd can take and how they work.
- Knowing your rights and the rules debt collectors must follow.
Our team has dealt with debt collectors, so we understand how tough this situation can be. We’re here to help you find out what you can do about this debt.
Why are Debt Managers Ltd Debt Collectors contacting you?
The reason debt collectors like Debt Managers Ltd Debt Collectors are contacting you is simple. They want their money, and they want it now!
If you haven’t even heard of Debt Managers Ltd Debt Collectors, you may be thinking, ‘who are they, and what do they want from me?’ and you’d be quite right in feeling like this.
As a debt collector, they are chasing the money on behalf of another organisation, who you owe the money to. That is not to say that you don’t owe the money.
If they bought it, then I’m afraid, you do owe the money and you should take steps to pay it back.
» TAKE ACTION NOW: Fill out the short debt form
What if you don’t recognise the debt?
If you don’t recognise the debt, you will need to get a copy of the original credit agreement, as this will tell you exactly how much you owe, and any charges/interest you have accumulated.
You should demand that Debt Managers Ltd Debt Collectors send you this agreement in writing.
Can pay – don’t want to!
No one really wants to pay debt, especially as everyone has other bills and expenses to take care of.
If you can’t pay the full amount, you may be able to arrange with Debt Managers Ltd Debt Collectors to make a partial payment, or to set up a repayment plan.
What are Some Actions that Debt Managers Ltd can Take?
Debt Managers Ltd is just like any other debt collection company. This means that they have no extra-legal powers or added authority. They can only take legal actions that the original creditor would have been able to take as well.
Of course, Debt Managers Ltd is allowed to contact you for debt repayment but they have to follow the guidelines set forth by the Financial Conduct Authority (FCA).
These guidelines prevent Debt Managers Ltd from:
- Calling you at irregular times or too often. Debt Managers Ltd are not allowed to call you on weekends or outside the hours of 9 am – 5 pm on weekdays.
- Threatening you or verbally abusing you
- Discussing the details of your debt(s) with your colleagues, friends or family members
- Implying that certain action will be taken against you if you don’t pay when this is not the case
It’s important to note that Debt Managers Services Ltd can send a debt collector to your residence but they’ll have to give you an advanced notice first.
You should know that the debt collection agent that comes to visit your home does not have any extra-legal authority. They cannot enter your home if you don’t want them to and you don’t even have to open the door for them if you don’t want to.
They are also obligated to leave the premises if you ask them to.
Examples of legal action that Debt Managers Services Ltd may take against you if you keep ignoring them are:
- Applying for a County Court Judgment (CCJ) against you
- Sending bailiffs to your home to seize your belongings
- Applying for an attachment of earnings or a charging order.
How a debt solution could help
Some debt solutions can:
- Stop nasty calls from creditors
- Freeze interest and charges
- Reduce your monthly payments
A few debt solutions can even result in writing off some of your debt.
Here’s an example:
Situation
Monthly income | £2,504 |
Monthly expenses | £2,345 |
Total debt | £32,049 |
Monthly debt repayments
Before | £587 |
After | £158 |
£429 reduction in monthly payments
If you want to learn what debt solutions are available to you, click the button below to get started.
Is there any way to get rid of debt
If you are really struggling with debt, it is understandable that you will be feeling stressed, and not quite sure what to do next.
There is an option you can consider, and that is to enter into an Individual Voluntary Arrangement (IVA). This is an agreement you reach where you pay some of your debt off, and the rest is written off.
You can find a local licenced IVA insolvency practitioner here.
Another option is the Debt Relief Order (DRO). You can only apply for this if you have only £75 or less left after your expenses are paid.
You can find a list of authorised debt advisors here.
Debt Managers Ltd Debt Collectors Contact Details
Phone number: | 01709 758449 Monday to Friday 8:30am – 5pm |
Address: | Debt Managers (Services) Ltd, The Heriot Building Dodds Close, Rotherham, S60 1BX |
Email: | [email protected] |
Website: | https://www.debt-managers.com/ |
Will They Give Up Chasing?
After all that you might be wondering whether you can just wait it out and hope they stop chasing you.
Sadly, that’s probably not going to happen. Most debt collectors are persistent.
Source: Moneysavingexpert
As you can see Robinson Way starting to chase a debtor mere days after their mortgage application and a full 12 years after the debt was originally chased.
Other agencies like Lowell Group, Portfolio Recovery and Cabot Financial are constantly being accused of buying Statute Barred debts and then chasing people for payment.
Thousands have already tackled their debt
Every day our partners, The Debt Advice Service, help people find out whether they can lower their repayments and finally tackle or write off some of their debt.
Natasha
I’d recommend this firm to anyone struggling with debt – my mind has been put to rest, all is getting sorted.
Reviews shown are for The Debt Advice Service.