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Phillips & Cohen Associates Debt – Should You Pay?

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By
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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Phillips & Cohen Associates 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.

Got a surprise letter from Phillips & Cohen Associates about a debt? You’ve come to the right place. Every month, over 170,000 people visit our website looking for help with debt problems.

Research shows that 64% of UK adults find interactions with current debt collectors stressful1. So we understand how you feel.

With our knowledge and experience, we’re going to help you understand:

  •  Who Phillips & Cohen Associates are.
  •  What to do when discussing the debt with them.
  •  How to manage your payments to them.
  •  What to do if you don’t owe the money they say you do.
  •  Ways to improve your income and credit rating.

Remember, you might not have to pay this debt. But ignoring it won’t make it go away. So, let’s take a look at your options and find the best way for you to handle this situation. 

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.

Discussing the Debt with Phillips & Cohen Associates

The first thing to do after you receive a letter or call from Phillips & Cohen is to understand what the debt is referring to. Do not just pay the debt, make sure you owe it first.

If you are unsure of the debt or it is not your debt, you should call Phillips & Cohen Associates on 0800 030 4101 in the first instance. Make sure you get confirmation in writing about the debt, even if your initial discussion is over the phone.

It is imperative that you have proof that you owe the debt, and if possible, a breakdown of the costs.

Follow our ‘prove it’ guide with letter templates and get them to prove that you owe the money.

What If You Don’t Owe the Money?

Debt collecting agencies like Phillips & Cohen are desperate to get payments on the account, and in some cases, they may chase you for money that is owed by someone else.

If this is the case, do not make payments to them. If you don’t recognise the payment, you must get written proof from Phillips & Cohen that you owe the money, and a breakdown of the costs. Under no circumstances should you pay any debt you don’t owe.

Your Rights With Debt Collectors

It’s common for Phillips & Cohen and other debt collection agencies to try to intimidate you. However, they’re not allowed to harass you.

I’ve prepared this table that explains what debt collectors are allowed to do. If you’d like to learn more about your rights or require further advice, please read our complete guide.

Debt Collectors Can But They Can’t
Contact you by phone or mail. Call you after 9pm or before 8am.
Conduct home visits (on rare occasions) and knock on your door. Forbily enter your home, or stay if you ask them to leave.
Threaten to take you to court by suing you for payment on a debt. Harrass you, including threats of violence, repeated calls and visits, or abusive language.
Negotiate a debt settlement. Tip: make sure to get this new arrangement in writing. Visit your workplace.
Access your bank account, but only after a court judgment has been made. Take anything from your home or threaten to do so.
Sell your debt. Speak to other people about your debt without your permission.
Contact you frequently. Keep doing so if you request that they reduce communications.

Remember that even if you’ve missed a payment, debt collectors should never harass you. If needed, you can make a complaint to stop them.

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

Making Payments to Phillips & Cohen Associates

It is better to pay your debt in one full payment, if you can afford it, but if not, you will be able to pay the debt back in instalments. It is important that you pay the most essential bills first before you make payments to your debt.

For example, your mortgage/rent and utilities (gas/electricity) should be paid first. It is a good idea to sit down and work out your finances and budget available to make payments.

If you can only afford a small payment each month, Phillips & Cohen Associates may ask for proof of your income. Ideally, you will be able to make substantial payments each month, as this will get the debt dealt with and cleared as soon as possible.

Not only does debt have a consequence on your credit rating, it can also be highly stressful dealing with debt-collecting agencies. If you owe the money, start making payments as soon as possible.

» TAKE ACTION NOW: Fill out the short debt form

What If I Can’t Afford to Pay Phillips & Cohen?

The average unsecured debt amount has increased by 27% year-on-year (to £16,174).2 As you can imagine, it’s common for people to struggle with debt.

If that’s your case, and you can’t afford to pay the debt Phillips & Cohen are chasing you about, you should contact them to discuss the options in the first instance.

There might be options to defer it for a few months or you may want to enter into an Individual Voluntary Agreement (IVA)3, which is available in Wales, England and Northern Ireland or a Trust Deed4 in Scotland.

UK Personal Debt 2021 Update:
There were 29,291 individual insolvencies in England and Wales in March to May 2021, a fall of 8.6% from 32,047 for the same period in 2020.

(Source: The Money Charity)


This will help you to write off a lot of your debit, but it will mean that you won’t be able to get any credit for around 5 years. It is important to do this with caution, especially if you are looking to take out a mortgage in the future.

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.

Phillips & Cohen Associates Contact Details

Address: Phillips & Cohen Associates, Ltd.
1002 Justison Street Wilmington, DE 19801
Phone: 888.608.1766 | TTY Dial 711
Fax: 302.368.0970
Email: [email protected]
Website: https://phillips-cohen.com/

FAQs

Does Phillips and Cohen Sue?
No. It has not been common at all for Phillips and Cohen to sue a consumer. This may be due to the fact that they rarely own the debt themselves.
Who does Phillips and Cohen collect for?
Phillips and Cohen collect deceased accounts for 70 of the UKs largest creditors within banking, home shopping, utility, telecom and many more…
Is Phillips and Cohen a collection agency?
Yes. Phillips and Cohen are a third party collection agency meaning they will collect debts on behalf of creditors.
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.

Resources

  1. Indebted Debt Collection Survey
  2. StepChange Personal Debt Statistics in Scotland 2022
  3. Citizens Advice – IVA
  4. Citizens Advice – Trust Deed in Scotland
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.