Cerberus Receivables Management Limited – Should You Pay?

Is Cerberus Receivables Management Limited trying to contact you? We know this can be concerning, but don’t worry.

Every month, over 170,000 people visit our site looking for guidance on debt matters. You’re not alone.

In this easy-to-understand guide, we’ll explain:

• Why CRM debt collectors are contacting you
• The typical debt collection process
• How to deal with debt collectors
• Debt solutions that may help you
• How to complain about CRM debt collectors

Research shows that 64% of people in the UK find dealing with debt collectors stressful.1 So we truly understand how you feel.

With our experience, we’ll help you learn how to deal with Cerberus Receivables Management Limited.

Why Is Cerberus Receivables Management Limited Contacting You?

If Cerberus Receivables Management Limited is contacting you, it’s likely because they’ve purchased your debt from a creditor.

They should inform you who they’re collecting the debt on behalf of.

Debt collection agencies, like CRM, typically use various methods to contact debtors, such as phone calls, letters, and in some cases, emails.

People often tell us that CRM debt collectors are very persistent. While this is common, it’s important to keep in mind that they should never threaten or harass you.

Janine, our financial expert, explained that while debt collectors can visit your home for payments, they cannot come to your workplace, act threateningly, force payment, or discuss your finances with others.

If they violate these rules, you can complain.

Typical Debt Collection Process

CRM debt collectors will call or send letters to request payment. This is part of the first stage of the debt collection process.

I’ve put together this quick table to help you better understand the debt collector timeline and what you should do.

Remember, to prevent serious consequences, it’s best to contact CRM debt collectors and offer to pay what you can.

How to Deal With Cerberus Receivables Management Limited

We know that receiving calls or letters from CRM debt collectors can be stressful, but try to stay calm. There are different ways to deal with them.

First off, it’s best not to ignore their correspondence.

While it might be tempting to push it aside, ignoring them won’t make the debt disappear and could actually make things worse.

If you ignore CRM debt collectors, they can take legal action against you and file a CCJ, which can impact your credit rating.

So, if you’re uncertain about the legitimacy of the debt, don’t hesitate to ask for proof. You have every right to request concrete evidence from Cerberus Receivables Management Limited.

If they fail to provide sufficient evidence, they can’t legally pursue the debt.

Another important factor to consider is whether your debt is statute barred. This means it’s no longer legally enforceable.

Here’s how it works:

• The debt must be at least six years old.
• You must not have made any payments towards the debt in the last six years.
• You must not have acknowledged the debt within the last six years.
• There should be no County Court Judgment (CCJ) issued against the debt.

If these conditions apply to your situation, we recommend informing CRM debt collectors that your debt is statute-barred. This can be done through a formal letter.

Lastly, make sure to keep detailed records of all your interactions with CRM debt collectors. These records could prove invaluable in case of any future misunderstandings.

What Should You Do if You Can’t Pay the Debt?

If you’re unable to pay the debt that Cerberus Receivables Management Limited is trying to collect, don’t worry. You’re not alone.

In fact, in 2022, arrears on household bills increased by 68% from £1,739 to £2,920². So, it’s common for people to struggle with debt.

If you find yourself in this situation, consider the following steps:

• Contact CRM: Explain your situation and be completely honest about your income, essential expenses, and any other debts that you may have. From what we’ve seen, CRM is usually willing to work with you to establish a payment plan.
• Review your budget: Take a close look at your budget to see if there are any areas where you can cut expenses or reallocate funds to prioritize debt repayment.
• Consider a debt solution: Depending on your circumstances, options like a Debt Management Plan (DMP), Individual Voluntary Arrangement (IVA), or Debt Relief Order (DRO) might be available. We recommend reaching out to a debt charity for personalized advice.

Remember, there’s a solution for every problem, even debt. By talking openly with CRM and considering your options, you can start taking control of your finances.

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.

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I’d recommend this firm to anyone struggling with debt – my mind has been put to rest, all is getting sorted.

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How to Stop CRM Debt Collectors From Contacting You?

As mentioned earlier, CRM debt collectors can be quite persistent.

So, if you’re tired of their constant calls, you can ask them to communicate with you in writing only. They should respect your request.

Make sure to keep a copy of the letter for your records to avoid any misunderstandings later on.

If they ignore your request or if you think they’ve violated any of the Financial Conduct Authority’s (FCA) guidelines, you can file a complaint.

We suggest starting with Cerberus Receivables Management Limited for your first complaint, giving them a chance to address the issue internally.

But if you’re not satisfied with their response or feel they haven’t taken your complaint seriously, you can take it further.

You have the option to escalate your complaint to the Financial Ombudsman Service (FOS).

Cerberus Receivables Management Limited – Contact Details

If you have any other questions, feel free to reach out to Cerberus Receivables Management Limited using any of the following methods:

References

1. Indebted Debt Collection Survey
2. StepChange Personal Debt Statistics in Scotland 2022