If you are being contacted by RMA Resolve Debt Collectors, don’t worry, you are not alone. This debt management will contact you about an outstanding debt you have. It will usually be associated with another company you have the debt with, such as a bank, energy company etc, and they will buy the debt off them. If you want to know how to deal with this kind of debt, ready this article for more information.
Who are RMA Resolve Debt Collectors?
RMA Resolve is registered in the UK as a debt management company. They offer debt advice as well as and will help with financial planning. They chase debt on behalf of other creditors.
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You can write off 75% of your debt with a new government scheme called Individual Voluntary Arrangement. You only qualify if your debts are over £1,700 and you have more than one debt. Answer 4 questions to see if you qualify.
Why you are RMA Resolve Debt Collectors contacting you?
If you owe money to a creditor, RMA Resolve Debt Collectors may contact you to chase up this debt. They are an independent debt collection agency, which means that they purchase the debt and make money when you make any repayments.
This is why the contact from them is often relentless. They buy the debt and only make a profit when you start paying it back. Most debt management companies don’t particularly care if you are struggling to pay back the debt, they just want to ensure they get this money back. They will often try every trick in the book to get the money back, which is why the The Office for Fair Trading (OFT, 2010) has acknowledged that these poor practices “appear to be widespread”.
Did you run up the debt?
If you don’t recognise the debt, don’t pay up. It may be that there has been an error, and they are chasing the wrong person. If they insist you are the right person, you can ask them to send a copy of the credit agreement, with the original creditor. If they don’t provide this, it may not be a legitimate debt, and you shouldn’t make any payments to it.
Follow my ‘prove it’ guide with letter templates and get them to prove that you owe the money.
What to do if you can pay
If you can realistically afford to make payments, either full or partially, you should make arrangements to do so as soon as possible with RMA Resolve Debt Collectors. In most cases, they will agree to a payment plan, as long as you adhere to it, but they may ask for proof of your income and outgoings. Make sure you can pay other essential bills before you reach an agreement though, including your rent/mortgage and food.
What if you can’t afford it?
If you can’t afford to pay the debt back at all, you will still need to speak to RMA Resolve Debt Collectors, and inform them of your situation. Perhaps you are currently out of work and need a bit more time to be able to afford payments or you need to wait until pay day. The debt collection agency should be willing to take your circumstances into account, and should be willing to come and go with you. After all, if you can’t pay it, there is not much they can do.
What the law says about debt collectors
There were guidelines published by The Office for Fair Trading (OFT, 2012) that stated what debt collection companies like RMA Resolve Debt Collectors can and cannot do. Some of these are:
- They should treat debtors fairly and without aggression.
- They should be clear with information, and offer clarity where needed.
- Understand the difficulties faced by debtors, and have empathy towards them.
- Take a course of action which is relevant to the debtors circumstances.
If RMA Resolve Debt Collectors are hassling you and not adhering to these regulations, you can can contact the OFT who may be able to revoke their license.
Want to make a complaint? use our online complaint form.
Some debt collectors pretend to be an external agency when in fact they are a business arm of the company you owe money. That is a clear case of deceit, though they are likely to claim that this information appears in the small print.
How do RMA Resolve Debt Collectors work?
It is important that you understand how RMA Resolve Debt Collectors in order to be able to deal with them appropriately. These are some things you need to know about debt collectors.
No profit unless you pay
RMA Resolve Debt Collectors and others like them will not make any profit unless you make a payment. This is why they may call you incessantly. They buy the debt and if you don’t pay, they lose money. If you are wondering why the debt collectors keep calling you, it is because they want to make some money. This doesn’t give them any right to harass you though, and if they do, you should seek legal advice.
They may automate their process
If you are not answering calls from RMA Resolve Debt Collectors, but they keep contacting you, it may be down to the fact that they are using an automated process. The may have the calls set up to keep contacting you every 30 mins.
If you are getting hassled by debt collectors, you can report them to the Financial Ombudsman.
You can reach them by phone on 0800 023 4567 or 0300 123 9123
How to handle calls from Debt Collectors
If you are receiving a high volume of phone calls from debt collectors, these are some ways to handle the calls.
Be calm and composed
It can be difficult to maintain composure when you are dealing with calls from debt collectors but it is important that you keep calm. There is no point in getting stressed though, as it won’t help your situation. The best thing to do is to speak to them in a calm, patient manner and explain your situation.
If they are hassling you or threatening you though, you can report them to the Financial Ombudsman on 0800 023 4567 or 0300 123 9123
Arrange to make payments
Debt collectors like RMA Resolve Debt Collectors will not stop until they get a payment from you, so the quicker you can arrange payments the better. Even if it means you are only making small payments, you should take steps to do this. This will not only clear your debt, but also take the stress of you.
What can you do about debt
You can get help from debt management companies or not for profit organisations if you are concerned about your debt, and you don’t see a way out.
These are some organisations who offer free help and advice.
- Citizens Advice Bureau (CAB) is the most popular organisation for providing free advice and support, and they can also help with debt advice. You can expect them to provide you with an honest and reliable service.
- Christians Against Poverty (CAP) is another free advice organisation for debt support.
- StepChange also provide free online debt advice.
How to write off your debt
If you feel that your debt is out of hand, you can enter into an Individual Voluntary Arrangement (IVA). An IVA is a formal agreement you reach to pay your debt collectors, and you can write some off your debt off. If you have substantial debt, this may be the only option, but it is worth remembering that you may not be able to access credit for up to five years after you enter into the agreement.
You only qualify for the government IVA scheme if your debts are over £1,200 and you have more than one debt. Fill out a 30 second form to see if you qualify using my 5 question virtual assessment.
These debt companies have received warnings from professional bodies about how they deal with their debt, and they could lose their licence if they are found to be breaking the legislation. If you feel that RMA Resolve Debt Collectors are not adhering to the rules, don’t hesitate to report them.