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SLL Capital Debt Collectors – Do You Have to Pay?

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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
· 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.

Featured in...
SLL Capital 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.

Receiving a surprising letter from SLL Capital Debt Collectors might feel scary. You might be concerned about the debt, where it came from, and if you should pay it.

Don’t worry. You are not alone in this. Each month, over 170,000 people come to our website for advice on dealing with debt. 

In this article, we’ll help you:

  •  Understand who SLL Capital Debt Collectors are.
  •  Check if you really owe them money.
  •  Learn if this debt will affect your credit score.
  •  Know how SLL Capital operates.
  •  Find out how to get help with your debt.

Our team knows how you feel. Some of us have had to deal with debt collectors too. We’ll use our experiences and knowledge to help you. 

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 you are being contacted by SLL Capital Debt Collectors?

Debt collection in the UK is big business. Debt collection agencies just like SLL Capital may be structured in different ways.

The most common are debt collection groups that are completely independent, but there are debt collection groups that are tied to crediting companies, although they mascaraed as separate and independent agencies.

Thus, they hide who they really belong to. There are some debt collection sole traders too.

The business model of debt collection agencies that work independently is to buy personal debts from other businesses.

They purchase the debt at an incredibly low cost, sometimes just one-fifth of the overall debt worth, Now that they own the debt, they can chase people to pay, hopefully the full amount, scooping them huge profit margins. Empaths and morals are not really on their radar.

Check if you really owe the money

Do you 100% owe SLL Capital the money they claim? The initial step is to get proof that the debt they claim is really in your name, and that you still owe the money.

When trying to uncover this information, don’t be surprised if the original amount has been inflated with interest rates and various types of fees. SLL Capital are allowed to charge you admin fees, but only if your original agreement with your creditor allowed it.

You should write a letter to SLL Capital Debt Collectors and ask for proof that you owe the debt. If SLL Capital does not provide adequate evidence, you are not under any obligation to pay. You can use my free ‘prove it’ letter template to write to SLL Capital.

If you receive proof of the debt and it turns out you do owe the money, paying it is the easiest and stress-free solution option.

Some people cannot afford to pay, or if they did, could result in debts elsewhere. If this is your situation, speak with SLL Capital debt collectors to see if they will accept partial repayment or a repayment plan.


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 My Debt Statute-Barred?

If it has been 6 years – or 5 years in Scotland – since you last paid towards your unsecured debts and you have not written to your creditor about your debt during this time, it is statute-barred.

This means that the debt is not enforceable. It still technically exists, and you still technically owe the money, but there is no legal way for you to be forced to pay or for the debt to be enforced.

Keep in mind that not all debts become statute-barred!

Any HMRC debts, for example, will stay enforceable for decades. Any debt that had a County Court Judgement (CCJ) attached to it during the 5 or 6-year window it will be enforceable for the duration of the CCJ.

Writing to SLL Capital and asking for proof of your debt won’t restart the statute-barred timer.

» TAKE ACTION NOW: Fill out the short debt form

Will SLL Capital Affect My Credit Score?

Yes, SLL Capital could affect your credit score. But your credit score will already be negatively affected by your missing payments with your original creditor!

Your credit score and credit file are used by companies to work out if you are a ‘high-risk’ customer – someone who is likely to have difficulty paying their bills on time.

So, if you miss payments with your creditor and they decide to sell your debt to a debt-collecting company like SLL Capital, other companies will be understandably concerned about your credit history. This could mean that you are refused all credit, but from my experience, you will more likely be stuck with some of the more basic credit options.

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.

What do SLL Capital Debt Collectors Do?

SLL Capital are a company that purchases debt from other lending sources and then take on the chasing of payments and maintaining of the debt agreement.

Their aim is to ensure that any debt that you have is settled, and it states on their homepage that they are able to discuss with you offers and payment plans that can suit your own situation and debt.

They also have a number of ways to make repayments when you need to.

Can I Get a Debt Solution?

If you are dealing with SLL Capital and have unsecured debts that you are struggling to pay, you may benefit from a debt solution.

There are several debt solution options available in the UK, so I recommend speaking to one of the above charities to get some free advice. Their advisors will be able to make sure that you are opting for the debt solution that will be best for your finances.

Debt Management Plan (DMP)

A DMP is an informal debt solution that lets you pay off your debts via a single monthly payment.

Because it is informal, it is not legally binding so you are not tied into a DMP for a minimum number of payments.

Individual Voluntary Arrangement (IVA)

An IVA is a formal agreement between you and your creditors. You agree to pay a monthly sum that is distributed amongst your debts, and your creditors agree not to contact you during your IVA.

IVAs typically last for 5 or 6 years, and any outstanding debt is wiped off when it ends.

Keep in mind that IVAs are not suitable for everyone. You need to owe several thousand pounds to more than one creditor to be eligible. You also need to demonstrate that you have some disposable income every month.

Trust Deed

IVAs are not available in Scotland. Instead, you will need to opt for a Trust Deed.

Trust Deeds work in the same way as an IVA – you pay an agreed sum each month that is shared amongst your creditors, they can’t contact you, and any leftover debt at the end of your Trust Deed term is written off.

Debt Relief Order (DRO)

A DRO is a good option for those facing financial hardship with no assets and little income.

For 12 months, you make no payments, but your creditors freeze your interest and don’t contact you.

If your finances haven’t improved during this year, you may be able to write off your unsecured debts.

Bankruptcy and Sequestration

If you have debts but no realistic possibility of ever paying them off, you may need to declare bankruptcy.

Bankruptcy has an unfair stigma attached to it as it may be your only way of getting a financial fresh start. That said, it is a serious financial situation that should not be taken lightly.

Sequestration is the Scottish version of bankruptcy.If you have little income and no valuable assets, you may be able to apply for a minimal asset process bankruptcy (MAP). A MAP is a quicker, cheaper, and more straightforward version of sequestration, so worth considering.

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.

How do I Complain About SLL Capital?

If you think that SLL Capital has been unreasonable or behaved inappropriately by using any of the above tactics, you can make a complaint. You can also make a complaint if you feel that they have broken any of the Financial Conduct Authority’s (FCA) guidelines.

Make your first complaint to SLL Capital directly so that they have the chance to sort out the issue themselves. If you feel that they have not taken your complaint seriously enough or have not addressed your issue properly, you can escalate matters.

You can make any secondary complaint to the Financial Ombudsman Service (FOS). They will investigate and, if your complaint is upheld, SLL Capital may be fined. You could even be owed compensation.

SLL Capital Contact Details

Company Name: SLL Capital Limited
Other Names: SLL Capital, SSL Debt Recovery
Address: Unit 6B ZK Park, 23 Commerce Way,
Croydon, CR0 4ZS
Contact Number: 020 3818 3834,
020 3862 4891,
020 8253 4140
Website: www.sllcapital.co.uk
Email: https://www.sllcapital.co.uk/send-us-an-email/

FAQS

Who owns SLL Capital Limited?
SLL Capital Limited is a private limited company. Mark Bryant is the largest shareholder with 25% of the company.
Are SLL Capital Limited financially regulated?
SLL Capital Limited is 100% authorised and under the regulation of the Financial Conduct Authority. Mark Bryant is the contact and their registration number is 673450.
Do HMRC use SLL Capital Limited?
SLL Capital Limited is not one of the eleven debt collection agencies currently used by HMRC and they should not be contacting you about money owed to HMRC.
Does SLL Capital Limited buy debt?
All of the debts that SLL Capital Limited deals with are debts that it has purchased from organisations and companies.
What happens if you ignore debt collectors?
SLL Capital may respond to your silence by sending an agent to your home. They do not have any legal powers, but if you continue to ignore them, they could get a CCJ for the debt.
Can SLL Capital Limited take you to court?
Yes, if the debt is not statute barred then they may take you to court to get the debt legally enforceable using bailiffs.
Can you go to jail for debt collections?
SLL Capital cannot make you go to jail for nay debt owed.
What happens if I ignore a CCJ?
If you ignore a CCJ requesting you to pay SLL Capital, they may employ a bailiff to come and collect the money or your possessions.
Can SLL Capital Limited issue a warrant?
No – SLL Capital are not able to issue a warrant. They have to try for a CCJ if you refuse to cooperate.
Are SLL Capital Limited bailiffs?
SLL Capital is a debt collection agency, but they are not bailiffs. They would employ bailiffs to repossess items if you refused to pay, and if they have secured a CCJ for the debt.
Can SLL Capital Limited come to your house?
Only these bailiffs have a legal right to enter your home. SLL Capital never have the powers to request entry, although they may try to or pretend they can. You should be warned if bailiffs are coming.
Can SLL Capital Limited force entry?
SLL Capital is known to send their staff to your home, however, this does not mean they have permission to be there or come inside. Even if they have a CCJ, it is only bailiffs who have the right to come in.
Will SLL Capital Limited give up?
It is unlikely that SLL Capital will give up calling or chasing the debt unless it becomes legally unenforceable, which can take six years or longer.
Can a debt be too old to collect?
Yes, older debts that become statute barred are too old to go to the courts and therefore too old to receive a CCJ. This may take six or more years, but some debts may never be too old to be collected.
How long can you legally be chased for debt?
You can be chased for debt until it becomes statute barred. The Limitations Act of 1980 states that statute barred debt is when the debt is six years old, but other criteria also must apply. You could be chased for longer than six years.
Are debts ever written off?
Yes, sometimes debts are written off via different methods. Note that any statute barred debt is not written off, just not enforceable because it will never be considered for a CCJ.
How do I contact SLL Capital Limited?
SLL Capital are contactable via the phone, although calls are not free. However, you may request to have a call back to save your phone bill. Alternatively, you can contact SLL Capital Limited via email.
How do I pay SLL Capital Limited?
You are able to pay SLL Capital Limited by debit card online or on the phone . Moreover, you can pay via direct debit, standing order or bank transfer. Cheques and postal orders can be paid in at a bank, attending your local post office or sent by post. Barclays Pingit payments up to £300 per day are also accepted.

References

CONC 7.3 Treatment of customers in default or arrears (including repossessions): lenders, owners and debt collectors

CONC 7.9 Contact with customers

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.