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Reliable Collections Debt Recovery – Do You Have to Pay?

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By
Scott
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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
· Jan 18th, 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.

Featured in...
Reliable Collections 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.

Are you puzzled by a letter from Reliable Collections Debt Recovery? Not sure if it’s real or if you should pay? You’re in the right place for answers. Each month, over 170,000 people come to our site for information regarding their debt worries, so you’re not alone.

In this article, we’ll help you understand:

  • Why Reliable Collections Debt Recovery might be contacting you.
  • How to check if the debt is truly yours.
  • What to do if you don’t want to pay or can’t afford to.
  • The effects of debt collectors and the laws that protect you.
  • Ways to deal with your debt, including setting up a repayment plan or potentially writing off some debt.

Our team knows how troubling it can be when debt collectors get in touch. We’ve been there too. So, we’re here to help you understand how you can navigate the situation.

Read on to find out more about Reliable Collections Debt Recovery and how to handle this debt.

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.

Why are Reliable Collections Debt Recovery contacting you?

Debt collectors like Reliable Collections Debt Recovery are contacting you as they want you to start making payments to a specific debt you have. As an independent debt collection agency, they buy the debt from another company, and they need to get payments before they get their money back, or make a profit. This is why they are so relentless in their pursuit to get repayments.

Read what to do if you can’t pay back your debt.

How to deal with debt from Reliable Collections Debt

If you are in debt and want to deal with it head on, these are some steps you can take.

Set up repayment plan

It may be tempting to ignore calls from Reliable Collections Debt Recovery agents, but this won’t help the situation. The best thing to do is speak to them and if you can’t afford to pay back the debt in one go, you should set up a repayment plan. Most debt collection companies will be willing to set up a repayment plan with you, although they may ask for proof of your income and expenditure.

Keep in touch

The best way to deal with Reliable Collections Debt Recovery is to keep communication open, and if you can’t make a payment for any reason, you should let them know in plenty of time so they can cancel the payment.

That being said, debt collectors can still try to railroad you into making payments you can’t afford, and this is a clear breach of the OFT guidelines. If the agent tries to do this, you can inform them that you will be contacting the Financial Ombudsman.

You can contact the Financial Ombudsman by phone on 0800 023 4567 or 0300 123 9123

Are they making you feel bad?

Debt collection agencies often start off in a friendly manner, but may take a turn when they realise you can’t pay the debt back. If they are making you feel bad, there is help available to you. Report them to the OFT if need be, using this online complaint form.

What if they talk to third parties?

When you are in debt, it can be embarrassing enough to receive calls from debt collectors, but even worse if the debt collection agent starts telling others about your debt. If the debt collection agents are telling others about your situation, even if it is a family member or colleague, they are breaching the OFT guidelines and privacy laws.

You can report this behaviour to the Financial Ombudsman on 0800 023 4567 or 0300 123 9123

» TAKE ACTION NOW: Fill out the short debt form

First – check if you owe it

If you don’t recognise the debt, you should get a copy of the original credit agreement. You may not recognise it as it is not coming from the original creditor, and the value may be somewhat inflated since you last seen it.

If you are in any doubt, get confirmation from Reliable Collections Debt Recovery. If they cannot provide this, the chances are that this is not your debt or they are not authorised to collect it from you.

See my most popular post on how to get a refund

What if I don’t want to pay?

It is often difficult enough to pay day to day bills and expenses, without piling debt on top of that too. If you have debt, simply not wanting to pay it is not enough. If you owe it then you are liable to pay it and you should try to make an arrangement with Reliable Collections Debt Recovery. You can even off to give them a partial repayment or set up a repayment plan to clear off the debt.

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

Is an IVA the best option?

If your debt problems are getting out of hand and you have no means to pay it all back, you may want to consider entering into an Individual Voluntary Arrangement (IVA). With this formal agreement, you can pay some of your debt off, and write off the rest of it.

Find a local licenced IVA insolvency practitioner here.

Otherwise, you may want to consider a Debt Relief Order (DRO). You can only apply for this if you have £75 or less left a month after you have paid your other bills and expenses.

This is a list of authorised debt advisors here.

The law is there to protect you

Although there is legislation to protect borrowers, some debt companies still act in an unlawful way. The law is there to protect you though, and you should not be made to endure any harassment or discrimination. If this is the case, you have the option to report such behaviour to the Financial Ombudsman. In worse case scenario, they may even lose their licence.

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.

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. 

Reliable Collections Contact Details

Company Name: Reliable Collections Ltd
Address: PO Box 268 Manchester, M99 2BD
Contact Number: 0345 074 2168
Fax: 0161 386 2913
Numbers they call from: 08000 728401
07891808141
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.

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.