JS Collections Ltd Debt Collectors – Must You Pay?

Receiving a letter from JS Collections Ltd Debt Collectors can be a scare, but don’t worry! You have come to the right place. Every month, more than 170,000 people visit our site for help on debt matters. 

In this helpful guide, we’ll:

•  Help you find out why JS Collections Ltd Debt Collectors are contacting you
•  Show you how to confirm if the debt is really yours
•  Give advice on what to do if you can’t afford to pay
•  Share tips on dealing with debt collectors who may be ruining your life
•  Explain legal ways to write off some of your debt

We understand the stress that comes with dealing with debt collectors. Our team has experienced it too, and that’s why we are here to help. So, take a deep breath, and let’s explore your options together. 

Why are JS Collections Ltd Debt Collectors contacting you about outstanding debt?

You may or may not know it, but the debt collection business is massive. Debt collectors like JS Collections Ltd Debt Collectors can come in different forms. There are some debt collection agencies which operate as independent businesses, there are others that may act as a business arm of the original creditor, such as a credit card company, bank or such, and there are also individual sole trader debt collectors. This range of debt collectors shows how huge debt problems really are.

Independent debt collection agencies and sole trader debt collectors have a business model which relies on them buying debt at a small fraction of its original face value, which could even sometimes be as little as 20% of the original cost. They start making a profit when they collect all or some of the debt.

They don’t really have many morals. As far as they understand it, you are the one who ran up the debt and, therefore, you are responsible for repaying it. This may be true, but when you are dealing with difficult financial problems, this attitude can make the situation feel even more overwhelming.

They don’t particularly want to hear about you and your personal circumstances. You may say, they are not the nicest of people at times. The Office for Fair Trading (OFT, 2010) even stated that the poor relating to debt collectors “appears to be widespread”.

» TAKE ACTION NOW: Fill out the short debt form

Is this really your debt?

Do you really owe this money, is it your debt? If you are unsure, the first you should always do is establish where the debt has originated and the total value of what you owe. It is highly likely that your original debt, if this does belong to you, has become much higher, due to various charges and additional interest. As a consequence, it may be substantially more than you thought you owed.

You can write to JS Collections Ltd Debt Collectors in the first instance, and ask that they send you a copy of your original credit agreement. If they are not able to give this to you, you will not be under any obligation to pay the debt back to them. You shouldn’t make payments, without any proof.

Can afford to pay, don’t want to?

If you are already struggling to pay your day to day bills, paying debt is probably the last thing on your mind. It is important to pay debts if you can though. This will not only get JS Collections Ltd Debt Collectors off your back, but it will help ensure you maintain a good credit score. You should always make sure you will be able to take care of your essential bills, including your rent or mortgage. If you can’t pay in full, you should try and come to an arrangement with JS Collections Ltd Debt Collectors. You may be able to clear off the debt completely without paying in full, by offering them a partial payment.

Debt help when you need it

There is a range of different types of help available if you want to get out of debt. You can use the free services offered by not-for-profit agencies which will even be able to provide you with one-to-one help and support. There are also commercial debt management companies, but these will charge you for the service. It would make sense to look at the organisations that offer a free service first before you consider the paid option. These are some of the companies to consider:

• Citizens Advice Bureau (CAB) – is a popular organisation for providing extensive help and support with debt issues, as well as many other day to day problems. They will be able to help you stop debt collectors from contacting you, but you will need to show that you are getting help with paying back your debt.
• Christians Against Poverty (CAP) – provide free debt help and support, guiding you through the process of getting out of debt.
• StepChange provides free online debt advice and help people take charge of their finances.

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.

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.

You can write off your debt

You will be able to write off your debt by entering into an Individual Voluntary Arrangement (IVA). This is a formal agreement you reach where you pay the debt collectors a specific amount you can afford, either as a one-off sum or as monthly payments. The remaining debt will be written off after a specific period, which is usually five years. The IVA process must be carried out by an insolvency practitioner. You should carefully consider this before you sign up, as it can prevent you from obtaining credit for some time after.

An alternative option is a Debt Relief Order (DRO). You would only be able to access this if you are left with £75 or less each month after you have taken care of your household expenses. You cannot own your own home or have assets worth over £2,000.

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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To conclude

Regardless of the warnings debt collectors have received from professional bodies, and the government guidelines, which have been put in place, the behaviour of many debt collecting agencies has led to huge suffering for many people who are facing financial difficulties, including depression and even suicidal thought. Regardless of the situation, you find yourself in, it is possible to fight back, especially if you get some help from the organisations we have mentioned in this article. You will not be able to just refuse to pay the debt, but you will be able to reduce the amount you are required to repay and even spread the repayments over a specific period you are happy with. It is entirely possible to stop their bullying by reporting them to the Financial Ombudsman. There is every chance that they may even lose their licence.

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