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Aqua Debt Collection – Do You Really Have to Pay? 

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Scott
Scott Nelson Profile Picture

Scott Nelson

Managing Director

MoneyNerd’s founder, Scott Nelson, has a decade of financial industry experience, including 6 years in FCA regulated loan and credit card companies. Troubled by a lack of conscience in the industry, he founded MoneyNerd to give genuine advice to those in debt and struggling financially.

Learn more about Scott
&
Janine
Janine Marsh Profile Picture

Janine Marsh

Financial Expert

Janine Marsh is an award-winning presenter and a valuable member of the MoneyNerd team. With a wealth of experience as a financial expert, she's been featured on BBC Radio 4, BBC Local Radio, and BBC Five Live, and is a regular on Co-op Radio.

Learn more about Janine
· Feb 7th, 2024
Could you legally write off some debt? Answer below to get started.

Total amount of debt?

This isn’t a full fact find, MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

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.

Featured in...
aqua debt collection

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.

Are you puzzled about a sudden debt letter? Do you wonder if you really need to pay it? Or perhaps you’re worried about what happens if you can’t afford it.

You’ve come to the right place. Each month, over 170,000 people visit our site for help with debt matters, so remember, you are not alone. 

In this guide, we’ll help you understand:

  •  What Aqua Debt Collection is.
  •  How it may affect your credit score.
  •  How to check if the debt is truly yours.
  •  What to do if you can’t pay your Aqua credit card.
  •  Ways to manage or even write off some of your Aqua debt.

Unfortunately, nearly half of individuals who deal with debt collection agencies have experienced harassment or aggression1. So, we understand your concerns.

Don’t worry! We’re here to guide you through this situation and help you find a solution. Let’s explore your options and answer your questions about Aqua Debt Collection.

Could you legally write off some debt?

There are several debt solutions in the UK, choosing the right one for you could write off some of your unaffordable debt, but the wrong one may be expensive and drawn out.

Answer below to get started.

How much debt do you have?

This isn’t a full fact find. MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

What happens if I can’t pay my Aqua credit card?

The average unsecured debt has increased by 25% year-on-year, rising to £13,9412. As you can imagine, it’s common for people to struggle with debt.

If that’s your case, and you can’t pay your Aqua credit card, it’s best to let Aqua know before you miss a payment. That way, they might offer a different and affordable repayment plan that prevents you from missing the payment and therefore stops you from being charged additional fees.

You can get in touch with them by calling 0333 220 2691

If you want additional support, you could speak with a debt charity first. Sometimes, the debt charity will even negotiate with Aqua on your behalf. 

Will Aqua use debt collectors?

Yes, if you don’t keep up repayments to Aqua and stop communicating with them, they could pass the case to a debt collection agency3 to trace you and chase payments. 

The debt collection agency is likely to send threatening letters that state you’ll be taken to court if you don’t pay. 

Sometimes these are just intimidation tactics. However, there is a genuine possibility that Aqua will take you to court where you’ll be subject to a court order to pay and have to cover further expenses. 

Typical Debt Collection Process

I’ve put together this table to help you better understand the key stages and actions involved in the debt collection process. If you’d like to learn more, please read our specialized guide

Stage Actions What you should do:
Missing one or two small payments Calls and letters from the debt collector asking for payment. They may enquire about reasons for missing payments. Contact the debt collector and offer to pay what you can. If you are struggling to pay the debt, get in touch with us to explore your options.
Missing large or multiple payments Their contact will become more frequent, urgent, and threatening. Contact the debt collection agency and offer to pay what you can. You may also make a complaint if you think the letters are a form of harassment.
Debt collector visit After a few months, if the debt is significant (£200+) you will receive notice of a debt collector visit. They have to notify you before arriving. Debt collectors cannot take anything from your home – they may only ask for payment. If a debt collector shows up at your home, ask them to show proof of the debt and their ID through a window. Do not open your door or let them in. You can arrange a payment plan with the debt collector, but make sure to get a receipt of this.
Court If you still do not pay your debts to the original lender/debt collector agency, they will take you to court and either attempt to:
– File a CCJ against you.
– File an attachment of earnings order.
– File a lawsuit against you.
You must show up to your court date. From here, you can either dispute the debt, or the judge will likely suggest a manageable repayment plan for you.

Remember that if you have missed a payment, the easiest way to stop the debt collection agency from contacting you is by offering to pay what you can.

How a debt solution could help

Some debt solutions can:

  1. Stop nasty calls from creditors
  2. Freeze interest and charges
  3. 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.

Get Started

Do you have to pay debt collectors?

Unless the debt collection agency has purchased the debt from Aqua, you can choose to ignore the debt collection company and deal with Aqua by asking them for a payment plan. 

However, there is a small chance that Aqua might tell you to deal with the debt collection agency from now on. 

In either case, you shouldn’t ignore your debts. 

» TAKE ACTION NOW: Fill out the short debt form

Can Aqua debt collectors come to your home?

Any debt collection agency that Aqua uses to chase you for payment must operate in line with the law. Debt collection companies sometimes give off the impression that they’re the same as bailiffs, which is never the case. 

A debt collection company cannot come to your home and seize goods and they should never give the impression that they can do this. If a debt collector does this, you should complain directly and then escalate the complaint to the Financial Ombudsman if required. 

A bailiff is only used when a court order has been made for you to pay and you haven’t paid or kept to a subsequent payment agreement. Debt collection companies and bailiffs are used at opposite ends of the debt recovery process and have very different legal powers. 

I recently spoke to the Mirror about debt collectors and bailiffs. While a bailiff may be permitted to take your possessions, a debt collector never can. All they are allowed to do is ask for a payment.

Can I get a debt solution for my Aqua Debt?

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.

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.

Get started

Reviews shown are for The Debt Advice Service.

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 Aqua Debt Collectors and get an alternative payment plan sorted.

Negotiation often works in these circumstances for two reasons:

  1. Aqua 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 Aqua 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 Aqua 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 Aqua Debt Collectors so they stop chasing you.

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.

Aqua debt collection harassment

Debt collectors don’t have a right to harass you to get you to pay, no matter how much money you might owe. They have to be respectful and communicate with you honestly. 

Despite this, there are continuous reports of debt collection agencies trying to intimidate debtors by frequently calling and texting. Doing so can be seen as harassment and should be stopped. 

You can stop harassment by sending your communication preferences to the debt collection agency, stating at what times and by what method you wish to be contacted. If they don’t commit to your communication preferences you should start gathering evidence of their harassment. 

You can then use this evidence – such as call logs – to submit a formal complaint to the debt collector and then to the Ombudsman if there is no resolution. 

Could you legally write off some debt?

Answer below to get started.

How much debt do you have?

This isn’t a full fact find, MoneyNerd doesn’t give advice. We work with The Debt Advice Service who provide information about your options.

References

  1. Indebted Debt Collection Survey
  2. StepChange Statistics Yearbook
  3. StepChange Debt Collection Agencies
The authors
Scott Nelson Profile Picture
Author
MoneyNerd’s founder, Scott Nelson, has a decade of financial industry experience, including 6 years in FCA regulated loan and credit card companies. Troubled by a lack of conscience in the industry, he founded MoneyNerd to give genuine advice to those in debt and struggling financially.
Janine Marsh Profile Picture
Debt Expert
Janine Marsh is an award-winning presenter and a valuable member of the MoneyNerd team. With a wealth of experience as a financial expert, she's been featured on BBC Radio 4, BBC Local Radio, and BBC Five Live, and is a regular on Co-op Radio.
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