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Debt Managers Ltd Debt Collectors – Should you Pay?

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Scott
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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 6th, 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.

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Debt Managers Ltd Debt Collectors

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.

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.

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:

  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

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.

debt collector chased debt

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.

Get started

Reviews shown are for The Debt Advice Service.

FAQs

Who owns Debt Managers Limited?
Debt Mangers Limited is owned by Secure Trust Bank plc.
Are Debt Managers Limited financially regulated?
Debt Managers Limited is authorised and regulated by the Financial Conduct Authority for accounts formed under the Consumer Credit Act 1974. Their registration number is 661939.
Who do debt managers collect for?
Debt managers collect “bad” debts from companies like Aktiv Capital and Arrow Global.
What is debt managers on your credit score?
Debt managers will be on your credit score if they have purchased the debt from your original creditor and are chasing you for debt. Prolonging payment will have negative affects on your credit score.
Do HMRC use Debt Managers Limited?
Debt Managers Limited is not one of the eleven debt collection agencies used by HMRC.
Does Debt Managers Limited buy debt?
Debt Managers Limited buy debts from companies that have not been successful in their own attempts to recover the money. Debt Collectors do this because they have that their technology will mean that they have a better chance of recovering the money.
Can you not just ignore the debt collectors?
You could ignore the contact from Debt Managers Limited, but it won’t be the last you hear from them. Debt collectors don’t tend to give up in their pursuit for the debt repayment. They will continue to contact you, and they may even go as far as to turn up at your door to try and get the money.
Will Debt Managers Limited be able to take you to court?
If you continue to ignore the contact from debt collectors, they may end up sending agents to your door. They could also apply to get a CCJ against you. If they manage to do this, you would be forced into paying and the CCJ will probably show up on your credit record.
Is it possible to go to jail for the debt you owe?
Debt Managers Limited will not be able to send you to jail because of the debt you owe.
Will anything happen if I ignore a CCJ?
If you ignore the CCJ, you won’t end up being sent to prison. However, there is every chance that bailiffs will end up at your door to try and recover goods to pay the debt.
Can Debt Managers Limited issue you with a warrant?
You won’t be issued with a warrant by Debt Managers Limited, as they do not have the legal rights to do so. However, you could end up with a CCJ, and this could result in bailiffs being sent to your home.
Are Debt Managers Limited bailiffs?
Debt Managers Limited cannot issue an arrest warrant or have you sent to prison. At most they can request a CCJ and if successful send bailiffs to your property to recover items to cover the debt owed.
Can Debt Managers Limited come to your house?
Debt Managers Limited are not bailiffs. They could, however, request a County Court Judgement which means that the courts could send bailiffs. You would have received a lot of warning letters if this was going to happen.
Can Debt Managers Limited force entry?
Debt Managers Limited may end up sending someone to your home to try and collect the debt, if they have exhausted all other options. They don’t have legal powers though, so you have the right to tell them to leave. If you have ended up with a County Court Judgement, they may send bailiffs to your door.
Will Debt Managers Limited give up?
Debt Managers Limited will be unlikely to give up, as they will lose money if they do. If you have a CCJ, then they may decide to send bailiffs to your home.
Can a debt be too old to collect?
Debt Managers Limited want the money back, so they will not stop chasing it until all legal options have been exhausted. You can be chased for up to 6 years.
Is there a limit on how long you can be legally chased about your debt?
There can be an expiry on debt, which means they are not permitted to keep trying to chase it. The Limitation Act 1980 states that they can only chase the debt for a maximum of 6 years. This starts from your last payment or the last time you discussed the debt with them.
Will you be able to write off your debt?
According to the Limitation action 1980, debt collectors have the right to legally chase you about your debt for up to 6 years, and this starts from when you last made payment, or discussed the debt with them. However, if they go as far as to raise a County Court Judgment against you, this Limitation Act will no longer be applied, and this enables them to chase you for the debt for as long as you wish.
How can I speak to Debt Managers Limited?
If you wish to speak to Debt Managers Limited, you can contact them by phone, but there is no freephone number available. They can also be contacted by email or post. There is no chat feature on their website to enable you to speak to them online.
How can I pay Debt Managers Limited?
You will be able to pay Debt Managers Limited by using your credit card via their website or by calling them up. There is also the option to pay the debt by direct debit or standing order, or by posting a cheque or postal order. They can supply payment slips for people who would prefer to make payments at a bank branch.
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

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

CONC 7.9 Contact with customers

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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