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Indigo Michael Ltd Debt – Should You 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 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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Indigo Michael 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.

When a surprise letter from Indigo Michael Ltd lands on your doormat, it can be a shock.

But don’t worry, you’re not the only one. Every month, over 170,000 people just like you come to our website for help with debt matters.

In this article, we are going to help you understand:

  •  Why Indigo Michael Ltd might be contacting you
  •  If you should pay the debt they say you owe
  •  How Indigo Michael Ltd loans work
  •  Your rights against any unwanted visits or calls from them
  •  Possible ways to manage or even write off some of your debt

We understand the worry and confusion you might be feeling right now. But remember, knowledge is power. By learning more about your situation, you can make the best choice for you.

So, let’s dive in and find out more about dealing with Indigo Michael Ltd 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 is Indigo Michael Ltd contacting you?

If you have an outstanding debt with SafetyNet and have missed payments, it’s likely that you’ll eventually receive contact from Indigo Michael Ltd.

Usually, the company will let you know when they are attempting to take payment from your account.

Remember, SafetyNet has access to your bank transactions, so they know when you have sufficient funds to repay the amount you borrowed plus interest.

However, they will also take partial payments when possible. Again, they usually give you notice of at least 48 hours before they attempt to take any money.

If they are unsuccessful in taking back the funds you owe from your account, they may reach out to you in different ways.

It could be because you have cancelled the debit card tied to your repayments or it has expired.

See this message posted by someone on a popular online forum.

Source: Moneysavingexpert

What is open banking?

Open Banking refers to standards and technologies that allow you to securely share your account details and information with a third party.

In this instance, you’d be dealing with Indigo Michael Ltd who’d have access to your account information.

An example is through a banking app. When you opt to work with Indigo Michael, you effectively authorise the company to access your current account information.

It’s worth noting that only you can choose the kind of information you want to share and for how long.

In short, nobody can access your account unless you give them permission first.

Do I have to pay Indigo Michael?

We all have to repay our debts in some way or another. If you genuinely owe money to Indigo Michael Ltd or SafetyNet, then you will have to pay back that money somehow.

However, this doesn’t necessarily mean that you have to pay them the full amount all at once.

There are, of course, some exceptions to this. If the debt is older than six years, it may be what’s known as statute-barred.

So, if they’ve not contacted you about it and you’ve not made repayment for six years, it could be written off. Provided there’s no County Court Judgement against the debt.

Similarly, if you’ve already paid the money or you don’t think you owe it in the first place, it’s their responsibility to prove it.

You can write to them and ask them to prove that the debt is yours. Make sure to send a physical letter, and check out the FCA’s Consumer Credit sourcebook for full details.

In some rare instances, the debt may genuinely not be yours. Someone else who has previously lived at your residence may have incurred it, or someone with a similar name could have borrowed the money.

Again, you should contact Indigo Michael Ltd to discuss this matter in full.

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

How do I check my debt details?

There are 3 credit agencies you can use to check your debt details. These credit reports show what you’ve paid back on money you’ve borrowed.

Experian, TransUnion and Equifax all offer free copies of your credit report.

What options do I have with Indigo Michael?

You have several options when it comes to managing your debt. First and foremost, it’s important not to ignore letters or calls from creditors.

It will only make matters worse, and it could end up costing you far more than the original debt. Missed or late payments can damage your credit history, making it more difficult to gain credit in the future (including mortgages).

If you have the funds to make a repayment and you’re sure you owe the money, it’s a sensible course of action.

However, if funds are short, you may want to reach out to the creditor to arrange a repayment plan. Often, this can be a set monthly amount that slowly pays off your debt.

If your debt is over £5000, you may be able to apply for an individual voluntary arrangement (IVA). This combines all your debts into one and means you can make lower monthly repayments.

Usually, this lasts for 60 months, and any outstanding money is written off at the end.

There are also debt management solutions you can look to. Things like consolidation loans and debt arrangement schemes can help you make regular repayments that you can afford.

As a last resort, bankruptcy is an option. However, it can have some significant impacts.

See my debt options overview page outlining all your possible debt options and pros and cons of each.

Will Indigo Michael Ltd visit your home?

It’s unusual for creditors to visit your home in the early stages of debt collection.

However, if you ignore their correspondence or refuse to arrange a form of payment, they may attempt to visit you.

Usually, they have to give you notice of when they’ll come to your house. And, even if they do show up, they have no legal power to enter your property or take your possessions to recover what’s owed.

If they were to call in the bailiffs, the situation would be different.

Bailiffs have certain legal powers. They can:

  • Send you letters, even at addresses you’ve not provided.
  • Apply interest and penalty charges to the amount you owe.
  • Register a default against your credit file. This can negatively impact your credit score.
  • Issue a CCJ. Again, these can significantly impact your credit rating.
  • If your debt is greater than £5000, they can petition you for bankruptcy.

So, writing to you and arriving at your home may only be the start of the action they take against you.

It’s important that you deal with the situation head-on. Ignoring it will only make things difficult.

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.

Has Safety Net Credit gone bust?

Yes. As of January 2023, Indigo Michael Ltd which traded as SafetyNet and Tappily went into administration.

Details were published on the Financial Conduct Authority (FCA) website.

» TAKE ACTION NOW: Fill out the short debt form

Indigo Michael Ltd contact details

If you need the essential information proving that they’re a legitimate company, you can find it below:

Address: Windsor Court, Kingsmead Business Park, Frederick Place, High Wycombe, Buckinghamshire, HP11 1JU
Email: [email protected]
Phone: 08001808559
Companies House Number: 07721420

The Companies House number is particularly important as it shows that Indigo Michael Ltd is a company that’s been registered in the UK.

So, if you’ve had a letter from them, you can guarantee it’s real.

Indigo Michael can be reached using any of the methods listed above. They can provide details of their money advice service as well as any county court judgements (CCJs).

You can also talk to their agents about interest rates.

In general, SafetyNet, the company that Indigo Michael Ltd owns, seems to have a positive rating. On Trustpilot, there are many five-star reviews of the service.

Again, this goes to show that they’re a real business with a positive reputation.

You shouldn’t ignore contact from Indigo Michael Limited, even if they’ve sent you a letter in error.

They will continue to pursue the outstanding debt, and likely escalate their efforts if you ignore them.

Indigo Michael FAQs

What is Indigo Michael on my credit report?
Indigo Michael is a creditor and debt collector who will chase down any debts owed to them should they fail to be paid. Your credit report represents this instance.
Who is Indigo Michael Ltd?
Indigo Michael Limited is a creditor who owns the website SafetyNet. Should your loan repayments with SafetyNet fail to be made then you will be chased for debt by Indigo Michael.
Will SafetyNet affect credit score?
Yes. Your behaviour with SafetyNet will be reported to credit reference agencies. Negative behaviour will negatively affect your credit score.
Is Indigo Michael a Debt Collection company?
Yes. But only for SafetyNet in most cases. As a debt collector, Indigo Michael has all of the same legal powers as the original creditor who used to own your debt. Even when you owe Indigo Michael money, they aren’t permitted to harass you or make inappropriate phone calls, but they are permitted to chase you for the money you owe. This will usually start with debt collection letters, but this could quickly escalate if ignored, like with any other debt recovery company.
Is Indigo Michael trustworthy
The company has good reviews on Trust Pilot. However, you can read safety net credit reviews here to find out more about the company and whether or not to trust them. You can check out SafetyNet’s credibility through their own Firm Reference Number: 715525.
Can Indigo Michael take me to court?
Indigo Michael has the right to sue you if you owe them money and do not pay up. If Indigo Michael successfully sues you, the court will file a judgement (also known as an order) against you requiring you to repay the debt. If, on the other hand, all of your money and assets are safe, creditors will be unable to seize them.
Is Indigo Michael anything to do with Tappily?
Yes. Tappily, a business name of Indigo Michael Limited (IML), is a lender that offers running account credit facilities. IML is also authorised by the Financial Conduct Authority to carry out the functions of a credit broker.
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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