Apex Credit Management Debt Collectors – Should You Pay?

Did you get a surprising letter from Apex Credit Management Debt Collectors? You might have questions. You might be concerned. The good news is that you’re in the right spot.

Every month, over 170,000 people come to our website for advice on debt matters, just like this one. You’re not on your own.

In this article, we’ll look at:

•  Who Apex Credit Management are.
•  How to check if the debt they say you owe is really yours.
•  If it’s better to pay them or wait.
•  How to handle their calls and letters.
•  Your choices if you can’t afford to pay.

We understand how you feel – some of us have even had debt collectors chasing us. Don’t worry; we’re here to provide helpful tips on dealing with Apex Credit Management Debt Collectors.

Why are Apex Credit Management Debt Collectors trying to contact you?

Debt collection can be highly profitable, as there are so many people in a position were they have high amounts of debt. Companies like Apex Credit Management Debt Collectors will work on behalf of the original company you have the debt with, in an attempt to try and recover the debt. The debt may be with a credit card company, bank or similar and the original creditor will usually sell it on when they have exhausted all other attempts to get you to pay it.

Debt collectors may work in different ways, but the premise is always the same. They purchase the debt for a fraction of the value, and often this is as little as 20%zme cases, this can make the value substantially higher than it was originally.

If you would like to see proof of the debt. Speak to Apex Credit Management Debt Collectors and ask them for a copy of the agreement, including a full breakdown of all costs. If they won’t provide this, you are not liable to pay the debt.

How do I Verify Apex Credit Management DebtDebt?

If you have received debt letters from Apex Credit Management, but aren’t sure if they’re legit, what do you do?

From my experience, the best thing to do is ask for proof that the debt is yours. I have a free ‘prove it’ letter template that you can use to help you write to XX and request evidence that you are liable for the debt that they are chasing.

You are under no obligation to pay for a debt that can’t be proven to be yours.

It is crucial that you respond to legitimate debt collectors quickly. Responding quickly will help you avoid any extra charges or fees. Not ignoring debt collectors also means that you are less likely to face legal action, such as a CCJ.

Is my debt statute-barred?

If it has been 6 years – or 5 years in Scotland – since you last paid towards your unsecured debts and you have not written to your creditor about your debt during this time, it is statute-barred.

This means that the debt is not enforceable. It still technically exists, and you still technically owe the money, but there is no legal way for you to be forced to pay or for the debt to be enforced.

Keep in mind that not all debts become statute-barred!

Any HMRC debts, for example, will stay enforceable for decades. Any debt that had a County Court Judgement (CCJ) attached to it during the 5 or 6-year window will be enforceable for the duration of the CCJ. 

If your debt is statute-barred, you can use my free letter template to write to Apex Credit Management and explain the situation.

If you are unsure about the status of your debt, you can contact a debt charity for some advice. Their advisors will be able to look at the debt in question, determine its status, and advise you on your next steps.

» TAKE ACTION NOW: Fill out the short debt form

Is it better to pay or hold off?

If Apex Credit Management Debt Collectors have showed you proof that you owe a debt, you will be liable to pay it back. If you are financially able to, it is always best to clear your debt as soon as you can. You should not, however, let it interfere with being able to take care of your other essential bills. If you are not able to though, you can pay it back by setting up a mutual debt repayment plan.

How do Apex Credit Management Debt Collectors operate?

If you have never had to deal with debt collectors before, you would be forgiven for not quite understanding them. These are some things you should know, to give you a better idea of what makes them do what they do!

They may be on a bonus

It is highly like that the agents calling you from Apex Credit Management Debt Collectors will be in some way incentivised. They will also have targets to meet in terms of how much money they take in. This is why they will seem overly keen to get you to make payment to your account.

If you don’t, they will need to answer questions – not to mention, missing their bonus too! This can lead them to use some majorly underhanded tactics, which includes intimidation and threats.

You need to know what to expect with debt collectors such as Apex Credit Management Debt Collectors. If you understand their threats, and why they do this, you will be in a better position to be able to deal with them in an appropriate way. Always remember to stand up for yourself against debt collectors, and only make payments if you can realistically afford to do so.

They will probably use call technology

The temptation is probably there to just ignore the contact from Apex Credit Management Debt Collectors, but you may find that they will just become increasingly persistent. In many cases, debt collectors will make use of automated technology to try and reach you.

If you are receiving constant phone calls, this is probably why! They might not even reply if you do pick it up, as it is just being used as a form of intimidation.

If you are receiving calls of this nature, you don’t need to just put up with it. Apex Credit Management Debt Collectors do not have the right to harass you in this manner, and if they are, they would be breaching the FCA guidelines. You can let them know you will be speaking to the Financial Ombudsman, who will deal with it on your behalf.

Change in tactics

Some debt collection agencies will use a range of tactics to try and get you to pay up, and this may include using some mind games. These include starting off the conversation by being friendly and helpful, but changing tune quickly when they understand you are unable, or unwilling, to pay the debt. This can obviously be highly distressing, as one minute you feel that you are getting the help you need, and then it quickly changes and they become extremely unhelpful. Some debt collectors will cross the line and will even be abusive to the debtor.

The thinking behind it is that you will eventually get fed up, or you will feel so distressed that you will pay up, even if you can’t really afford to.

You may find it difficult to stand up to the behaviour of debt collectors like Apex Credit Management Debt Collectors, but you should keep strong and deal with the matter as quickly as you can. If you believe that they have not treated you fairly, you can report them or make a complaint.

Can they speak to someone else about my debt?

Some debt collection agents will go as far as to discuss your debt with other people, if they exhaust their efforts to speak to you. This could be a partner, which is not as bad as speaking to a colleague, which some will do, but neither are permitted. If you find that Apex Credit Management have discussed your debt with someone else, this would be breaching both the FCA guidelines and privacy laws.

You have the right to report them to the Financial Ombudsman on 0800 023 4567 or 0300 123 9123

Apex Credit Management Debt Collectors and the legal implications

There are a set of guidelines relating to debt collectors, which were published by the Financial Conduct Authority. There were designed to help protect borrowers and also, ensure debt collectors were not acting in a way which was unnecessary. In summary, Apex Credit Management Debt Collectors have a responsibility to:

• Ensure that all debtors are treated fairly, and aggressive practices are not used to try and get them to pay up.
• Treat debtors in fair and appropriate manner, which does not make them feel embarrassed or harassed.
• Ensure transparency and accuracy in all information provided.
• Show empathy towards debtors who may be experiencing issues.
• Don’t operate a one size fits all approach, but take every situation in a case by case basis.

If Apex Credit Management Debt Collectors are attempting to intimidate you and they are breaking these guidelines, you would have the right to report their behaviour, and they may decide to remove their license.

You can make a complaint about Apex Credit Management Debt Collectors, by using this online complaint form.

You may even find that debt collectors will lie to you in one form or another. They not be entirely truthful about the way they are operating. In this case, you would be able to report them as it goes against the legislation.

Can I write off my Apex Credit Management debt?

If you are dealing with Apex Credit Management debt but are struggling to afford it, you might benefit from a debt solution. A number of debt solutions will allow you to write off part or even all of your debt if you fulfill specific criteria.

There are several different debt solutions available in the UK, so I recommend speaking to a debt charity as soon as possible. Their advisors will be able to look at your finances in detail and help you work out which debt solution will work best for you.

I have linked a few charities that offer these advisory services for free below.

Debt Management Plan (DMP)

A DMP is an informal debt solution that lets you pay off your debts via a single monthly payment.

Because it is informal, it is not legally binding so you are not tied into a DMP for a minimum number of payments.

Individual Voluntary Arrangement (IVA)

An IVA is a formal agreement between you and your creditors. You agree to pay a monthly sum that is distributed amongst your debts, and your creditors agree not to contact you during your IVA.

IVAs typically last for 5 or 6 years, and any outstanding debt is wiped off when it ends.

Keep in mind that IVAs are not suitable for everyone. You need to owe several thousand pounds to more than one creditor to be eligible. You also need to demonstrate that you have some disposable income every month.

Trust Deed

IVAs are not available in Scotland. Instead, you will need to opt for a Trust Deed.

Trust Deeds work in the same way as an IVA – you pay an agreed sum each month that is shared amongst your creditors, they can’t contact you, and any leftover debt at the end of your Trust Deed term is written off.

Debt Relief Order (DRO)

A DRO is a good option for those facing financial hardship with no assets and little income.

For 12 months, you make no payments, but your creditors freeze your interest and don’t contact you.

If your finances haven’t improved during this year, you may be able to write off your unsecured debts.

Bankruptcy

If you have debts but no realistic possibility of ever paying them off, you may need to declare bankruptcy.

Bankruptcy has an unfair stigma attached to it as it may be your only way of getting a financial fresh start. That said, it is a serious financial situation that should not be taken lightly.

Sequestration

Sequestration is the Scottish version of bankruptcy.

If you have little income and no valuable assets, you may be able to apply for a minimal asset process bankruptcy (MAP). A MAP is a quicker, cheaper, and more straightforward version of sequestration, so worth considering.

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Can I write off my debt without a debt solution?

If you don’t think that a debt solution is right for you – or if you are ineligible for one – what do you do?

From my experience, you might be able to negotiate with Apex Credit Management and get an alternative payment plan sorted.

Negotiation often works in these circumstances for two reasons:

1. Apex Credit Management didn’t pay 100% of the value of the debt when they bought it – debts are bought for much less than they are worth. This means that Apex don’t need to recover all of your debt to make a profit.
2. Legal action is expensive and can quickly eat into any potential profit that Apex would have made on your case. Getting some money off you is arguably better for them than spending lots of money to compel you to pay.

This all means that you can negotiate a reduced-cost repayment plan, or even lower your outstanding debt balance. I have a free final settlement letter template that you can use if you need some guidance – offering a one-off lump sum could appease Apex Credit Management Debt Collectors so they stop chasing you.

I recommend writing to Apex Credit as you can keep copies of all your correspondence. You can then use these copies as evidence if Apex argue with you in the future.

Keep in mind that your credit score might be affected if your settlement offer is accepted. This is because your account will be marked as ‘unsatisfied’ on your credit file which will most likely make you look like a potentially high-risk customer.

Apex Credit Management Debt Collector Contact Details

References

CONC 7.3 Treatment of customers in default or arrears (including repossessions): lenders, owners and debt collectors

CONC 7.9 Contact with customers