Motormile Finance UK Limited Debt? – Should You Pay?

Got a surprise letter from Motormile Finance UK Limited about a debt? Take a deep breath you’re in the right place for answers.

Every month, over 170,000 people come to our website looking for information about their debt problems, so you’re not alone.

In this article, we’ll help you understand:

• Should you pay Motormile Finance UK Limited?
• How to check if the debt is yours.
• What to do if you can’t afford to pay.
• How to handle other debt collectors.
• How to possibly write off some of your debt.

Our team knows about dealing with debt, as we’ve seen many similar cases. We understand how you feel right now and want to help you figure things out.

Let’s help you work out your next steps with Motormile Finance UK Limited.

Motormile Finance now Operate as Lantern

After their negative publicity, it was not a shock when Motormile Finance decided to rebrand. They did exactly that in 2018 and are now known as Lantern. The branding of Lantern focus around a human and empathetic approach, but even if they have become more considerate about the way they collect debts, your rights remain the same.

Remember to read our guide on dealing with Lantern debt letters to find out how to reply to their requests for payment.

Motormile Finance Take the High Road

The Financial Conduct Authority (FCA) became aware of malpractices within Motormile Finance in the way they collected debt. After an investigation in 2015, Motormile Finance was found to be guilty of a series of legislation breaches.

This may not be too surprising considering the number of forum users complaining about Motormile Finance doorstep visits and aggressive debt collection attempts. As a result of the findings, Motormile Finance then agreed with the FCA to offer redress to almost half a million debtors, ridding their debt due to its own debt collection negligence.

» TAKE ACTION NOW: Fill out the short debt form

The bottom line was that over £400 million worth of debt was written off, and some previous debtors received a payment back. The total amount paid made back to customers was over £150,000, which averaged at £72 for each debtor (although it was not split equally).

For more details, you can read the full story via the FCA website, or read The Guardian’s take on events.

Motormile Finance UK Contact Details

Other Debt Collectors to look for on your Credit Report

There are hundreds of debt collectors in the UK and they each collect for different companies.

It’s surprisingly easy to not notice that you’re in a debt collector’s crosshairs.

I’d suggest you spend time checking your credit report. If a debt collector purchases any of your debt, it will appear on your credit report.

Some of the biggest to look out for include Cabot, PRA Group, and Lowell.

So if you see anything relating to their names, then you’ll need to investigate further.