Are Red Castle Recoveries Debt Collectors contacting you about your debt? Have you never heard of the debt collection agency before and not sure what to do? Read on, as this article is just for you!
It’s not your fault. Complaints to the Financial Ombudsman have risen this year from 830 to 2,006, so it’s safe to say that you’re not alone.
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Why are Red Castle Recoveries contacting you?
Red Castle Recoveries is a registered debt collection company in the UK, who offers professional debt collecting and management services to customers throughout the country. The company is part of Gothia and works with customers throughout the UK.
Red Castle buys your cheap debt from lenders, mobile and utility companies on the cheap and tries to get money from you to make a profit.
Don’t worry, here’s what to do!
You could get rid of debt collectors by writing off your debt. I’ve put together a 4 question debt calculator which will tell you if you’re eligible:
Read what to do if you can’t pay back your debt.
Why are Red Castle Recoveries Debt Collectors getting in touch?
Debt collectors like Red Castle Recoveries Debt Collectors are contacting you because you have an outstanding debt. The debt probably won’t be from this company directly, but another organisation you owe the money too, such as a credit card company or a bank loan. This doesn’t mean they don’t have the right to chase you. They do, as they buy the debt from these other companies.
The Office for Fair Trading (OFT, 2010) have acknowledged that bad practices among debt collection companies seem to be widespread. If Red Castle Recoveries Debt Collectors are contacting you about your debt and are harassing you, you may be in a position to report them for their behaviour.
Find your best debt solution
Is all this information starting to feel overwhelming? Don’t panic! I’ve put together a 4 question debt calculator so you can quickly and easily find the best solution for you. Answer the four questions now.
Getting proof of your debt
The first step to dealing with Red Castle Recoveries Debt Collectors is to get proof of the debt. This is particularly important if you have no recollection of the debt.
You can write to Red Castle Recoveries Debt Collectors and ask them to send a copy of the original credit agreement.
What if you can’t pay?
Red Castle Recoveries Debt Collectors will keep contacting you until you make arrangements to pay the debt back. If you can’t make a full payment, you can ask them if you can make a partial payment. They may accept a lower offer just to clear the debt off. If neither of these are an option, you may want to enter into a repayment plan. The debt collection agency will usually accept any offer, but they may ask for proof of your income and expenditure. This is to ensure that you can’t afford to pay back any more than you have stated.
Debt collectors and common practices
As debt collection agencies only have one aim – to get their money, they can use all kinds of practices to get you to either make payment or agree to make payment. Some of these practices include, incessant calling to try and reach you, sometimes even using automated call lines or threatening/bullying behaviour, including saying they will visit your home to take your possessions as payment.
Red Castle Recoveries Debt Collectors – the legalities
The Office for Fair Trading (OFT, 2012) published guidelines around debt collectors and their practices. These are some of the legalities debt collection agencies should be adhering to.
- Treating debtors fairly and with respect.
- Providing clear, transparent details.
- Understanding of the debtors situation and empathy towards them.
- Acting with the debtors circumstances in mind.
If Red Castle Recoveries Debt Collectors are using tactics which go against the legislation, you can contact the OFT who may revoke their license.
If you wish to make a complaint about Red Castle Recoveries Debt Collectors, you can use this online complaint form.
What are the options available?
If Red Castle Recoveries Debt Collectors are contacting you about your debt and you are wondering how to deal with it, these are some of the options.
Pay the full debt
Red Castle Recoveries Debt Collectors agents will phone you persistently to get payments, so there is no point in ignoring them – the debt won’t just go away. Although it may be difficult, the best option is to pay the full amount of the loan or at least, make a partial payment. If you pay the debt in full, it will not only help your credit rating, but you will also get Red Castle Recoveries Debt Collectors off your back – reducing stress in the process.
The other option is to set up a repayment plan with Red Castle Recoveries Debt Collectors. You should only make those payments that you can afford, when you take into account your other expenses, such as rent and food. The debt collection agent may ask for proof of your income and expenditure, to prove that you can only make the payments you claim to be able to make.
If you feel that Red Castle Recoveries Debt Collectors are hassling you and breaching the OFT guidelines, you can tell them you will report them to the Financial Ombudsman.
You can contact the Financial Ombudsman on 0800 023 4567 or 0300 123 9123
The debt is old, do I need to pay it back?
The debt may be from a long time ago and you may have forgotten all about it. The question is, do they still have the right to keep chasing you for it?
Unless the debt has cleared from your record, the debt collectors can still contact you and chase you for it. It is still money you owe, and it is best if you try and make a payment towards it or set up a repayment plan.
If you are being hassled about the debt, you can Report the debt collection agency to the OFT, via this online complaint form.
What if they are talking to others about your debt?
Debt collectors have no right to talk to anyone else about your debt, including colleagues and even your partner or family member. They can only discuss the debt with you, and if they do this, they are breaking regulations.
If you are unhappy with their behaviour, you can report them to the Financial Ombudsman on 0800 023 4567 or 0300 123 9123
Can they visit your home?
If the debt collectors are threatening to visit you at your home and removing your belongings, they are not permitted to do this, and you should not allow them access. This is threatening behaviour, and if you feel that you are being harassed by the debt collection company, you can contact the police, who will deal with the situation.
Don’t let the stress get to you
Debt collectors such as Red Castle Recoveries Debt Collectors can be relentless, at the end of the day, they want you to make payments and they will stop at nothing to get this. This doesn’t mean you should let them get to you though. You should try to stay as calm and patient as possible when dealing with debt collection agencies. Getting worked up and stressed will not achieve anything for you.
Do you need debt help?
In some cases, debt might become unmanageable, especially if you are not working or on a low income. In these cases, you may need to seek debt help. You can do this through a commercial debt management companies or a not-for-profit organisation. It is a good idea to get help from the not-for-profit organisations first. These are some of the organisations to speak to about your debt.
- Citizens Advice Bureau (CAB) this is one of the most popular organisations for debt help. They are experts and have helped thousands of people deal with their debt.
- Christians Against Poverty (CAP) will provide you with free debt help.
- StepChange can give you free online debt advice and support with managing your debt issues.
Can you write off your debt?
You can write off your debt via an Individual Voluntary Arrangement (IVA). If your debt is getting out of hand, and you have no way of paying it, this is a great option as you can write off some of your debt. It’s particular useful for those with extensive debt levels.
If you are looking for an IVA arrangement, you can find an insolvency practitioner here.
Another alternative to this is a Debt Relief Order (DRO). This is only applicable to those who only have £50 or less to live on each month, after other bills and expenses are paid.
This is a list of authorised debt advisors.
Any kind of debt can be stressful, especially if you have little or no means to pay it back. You should aim to make repayments, but you should try not to worry or stress. If the debt collectors such as Red Castle Recoveries Debt Collectors are harassing you in any way, you can report them, and they may even lose their licence.
Red Castle Recoveries Contact Details:
Company Name: Red Castle Recoveries
Other Names: PayRed.com, Red Castle, Avarto
arvato Financial Solutions
24 George Square
Phone: 0845 245 2451
Email: [email protected]
Numbers Red Castle Recoveries call from: