‘firstclear ltd ‘ on Bank Statement – Who Are They?
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.
If you’ve seen ‘Firstclear Ltd’ or ‘eui ltd prem tr’ on your bank statement and are unsure what it means, don’t worry. You’re one of over 170,000 people who visit our website each month for help with debt matters. This article is here to guide you.
We will discuss:
- Understanding who ‘Firstclear Ltd’ and ‘EUI’ are and why they appear on your bank statement.
- Steps to take if Firstclear or EUI debt collectors contact you.
- How to confirm if the debt is really yours.
- Ways to stop Firstclear or EUI from chasing you too hard.
- Options to set up payment plans or even write off your debt.
Some of us here at MoneyNerd have been in your shoes, so we understand that dealing with debt collectors can be scary. We’re here to help you understand your situation better and find the best way forward. So, let’s explore more about Firstclear Ltd and EUI and how to deal with them.
Are They Legitimate?
Put simply, yes. In this case FirstClear are a legitimate company incorporated on 15th June 2000 and registered under company number 04018008 in the United Kingdom. Their current address is 4th Floor Imperial House, 8 Kean Street, London, United Kingdom, WC2B 4AS.
Anyone who gets a direct debit on their bank statement from a company that they may not have had dealings with before can be a cause for suspicion. It’s really good practice to make sure that the company you have received a letter from are legitimate.
Why are they taking payments and contacting me?
EUI Debt Collectors could be taking payment or contacting you for a wide variety of different reasons. Debt collection companies often collect debts for a wide range of clients.
Other companies will involve debt collection companies such as EUI Debt Collectors to reclaim any outstanding payments. In their initial correspondence, they will specify exactly who they are collecting the debt on behalf of.
For the most part, EUI are likely to be taking payments regarding an overdue or late payment from you with Admiral Insurance.
Are They Allowed to Chase me for Debt?
EUI Debt Collectors are allowed to chase you for debt, however the FCA have set out a series of rules and guidelines to prevent unfair lending practices. EUI must abide by these rules if they wish to continue to operate in the consumer credit industry.
These guidelines prevent debt collectors from entering your house without permission, using aggressive force to retrieve the debt or informing people other than you about the debt to name a few.
Watch my YouTube video bellow that outlines exactly what debt collectors cannot do:
» TAKE ACTION NOW: Fill out the short debt form
What do I do if they get in touch?
If EUI Debt get in touch, don’t panic! It can be a cause of distress and worry if you get a letter saying that you owe money that you didn’t think you owed. You may not think you actually owe the money in the first place.
It is very rare that companies like EUI Debt Collectors send out these letters in error, so more often than not, you will owe the money that they say you owe.
Check the details
When you get your letter, or you see a direct debit in your bank account from EUI Debt Collectors, make sure you cross-reference this with any information you can find, to ensure that the debt is correct.
In the instance where you might be confused as you actually do owe the debt, you can request a ‘Prove the Debt’ letter from them.
Get them to prove the debt using our free letter template that could see your debt written off.
Take notes
As you go down the process of paying EUI Debt Collectors, it’s worthwhile taking notes of everything you do.
Note down the dates of each letter, if you end up having a phone call with them, take down the names of the people you speak to, if you see a direct debit take note of the amount and the date.
This will help you further down the line if they accuse you of discrepancies.
Should I pay up if I know I owe debt to them?
If you know for sure that the debt is yours, and you are able to pay it, you should settle it as quickly as you can.
The sooner you do this, the sooner their letters and phone calls will stop. If you can’t afford it, you may be able to negotiate a repayment scheme where you pay monthly instalments.
Checking for Other Debt Collectors
There are a lot of ways to get into debt. In fact, it’s not uncommon to owe money to several companies at once.
Perhaps you have a mortgage, a car loan, a couple credit cards and an item or two you bought on buy-now-pay-later schemes. It’s easy to lose track.
That’s why it’s important to regularly check your credit report and bank statements to make sure you haven’t missed anything.
If a debt collector has purchased your debt, it appears on your credit report.
Some of the debt collectors you’re most likely to come across are PRA Group, Lowell and Cabot Financial.
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.
Here, we will answer some of the more common questions when it comes to dealing with debt collection companies like EUI Debt Collectors.
