Marlin Financial Services Ltd Debt Recovery – Must You Pay?

Are you puzzled by a letter from Marlin Financial Services Ltd Debt Recovery? Not knowing where the debt came from or if you should pay can be worrying. But don’t stress. This article is here to help you.

Every month, over 170,000 people visit our website seeking advice on debt problems. So, remember, you’re not alone.

In this guide, we’ll discuss:

•  Who Marlin Financial Services are.
•  How to understand why you received a call from Marlin Financial Services Debt Collectors.
•  How to find out more about the debt.
•  What to do if you can pay, and what to do if you can’t.
•  If there’s a chance to write off some Marlin Financial debt.

We’ve been in your shoes and dealt with debt collectors, so we understand how it feels to have them knocking at your door.

Don’t worry. With our expertise, we’ll help you understand your options.

Why have you received a call from Marlin Financial Services Debt Collectors?

There are thousands of people who are dealing with debt problems, and as a result, the debt collection is massive. There are many different types of debt collectors out there, including independent businesses and those who work with the original creditor, as a business arm.

You may even come across sole traders who are operating as debt collectors. If you have been contacted by Marlin Financial Services Debt Collectors, you should definitely speak to them and try and resolve the situation.

The way companies like Marlin Financial Services Debt Collectors operate is the same, regardless of the terms in which they work under. The original creditor (the company you have the debt with) will sell the debt to the debt collection agency for a small fraction of the face value.

For instance, if the value of the debt is £1,000, they may sell it for only £200. The reason they do this is that they are having no luck in getting the money from you, so they pass it onto a dedicated debt collector and this means they make a bit of money and get rid of the debt.

You will find that debt collectors are not particularly concerned about how you feel and your individual situation. They just want you to pay up, and the quicker the better!

Find out more about the debt

The first thing you need to do when approached by Marlin Financial Services Debt Collectors about the outstanding debt is to make sure you actually owe this money.

It could be the case that you are being contacted about debt you have already paid, or it may belong to someone with the same name, and you are being contacted in error.

You can write to Marlin Financial Services Debt Collectors and request that they send you a copy of the original credit agreement.

If they do not provide this, you will not be under any obligation to pay the debt back. You should not pay debt unless you are sure it is yours.

» TAKE ACTION NOW: Fill out the short debt form

How to deal with your debt

If you have debt problems, there is help out there. The choices are the not-for-profit organisations, which provide help for free, and alternatively, there are commercial debt management companies.

You should always opt for the free services first, and if you don’t have any success with this, you can then turn to the commercial companies. These are some of the agencies you may want to consider using:

• Citizens Advice Bureau (CAB) – is an organisation that provides you with free help and support in getting out of debt. They have professional, highly skilled advisors who will also be able to assist with any other issues you are dealing with.
• Christians Against Poverty (CAP) can provide you with help and support in taking care of your debt, completely free of charge.
• StepChange free online debt advice when you need it

Should you pay, if you can?

If you can pay the debt, then we would suggest you do. It will take the stress off you, and you will not have to worry about dealing with Marlin Financial Services Debt Collectors ever again!

You should only pay this debt if you are able though. There is no point in paying the debt if it means you won’t be able to take care of your other bills. In this case, you should devise a suitable repayment plan with Marlin Financial Services Debt Collectors, or offer to pay a partial repayment to clear the debt. Speak to a free debt charity for help.

UK Personal Debt 2021 Update:
Citizens Advice Bureaux in England and Wales dealt with 1,735 debt issues every day in the year to May 2021.

(Source: The Money Charity)

Did you know you can write off your debt?

You may be able to write off some of your debt, by entering into an Individual Voluntary Arrangement (IVA). An IVA is a formal agreement you reach with the debt collectors to pay a specific amount to the whole debt each month. Any outstanding debt would usually be written off within five years. The IVA process would require an insolvency practitioner.

The other option to consider is a Debt Relief Order (DRO). You would only be eligible for this if you only have £75 or less to live off each month, after you have taken care of your household bills. Additionally, you must not have assets which amount to more than £2,000.

Other Debt Collectors 

You should check for more outstanding debts that you may have with other companies or debt collectors. Here are four steps you could take: 

1. Check your credit report for other defaults 
2. Check your email and post for reminders or overdue notices
3. Check the court records for CCJs against you
4. Check your bank statements for the names of other debt collectors 

There are hundreds of debt collectors in the UK and each works with different companies to collect debts.

For example, Cabot Financial have been known to collect for the DVLA while Lowell Financial and PRA Group buy debts from various credit card companies like Barclaycard.

If you see a name on your bank statement that you don’t recognise then you can search MoneyNerd to see if they’re a debt collector. 

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.

Marlin Financial Services Ltd Contact Details

The Final Word

Although the government have stepped in to try and deal with the situation, and put more regulations in place for debt collection agencies, there are still problems with the behaviour of debt collectors.

In some cases, debtors have been left feeling upset, distressed and even depressed about their situation and the abusive contact they are receiving from debt collectors. You need to repay your debt, but this should be done in a careful, considered way.

There are options available to you. The best option is to clear the full debt as quickly as possible, but alternatively, there is the option of setting up a suitable repayment plan.

You may be able to stop the bullying and abusive behaviour by reporting Marlin Financial Services Debt Collectors to the Financial Ombudsman. They could lose their license as a result.

FAQs