Swift Credit Services Debt – Do You Need to Pay?

Got a surprise letter from Swift Credit Services? Don’t worry, you’re not alone. Many people get these letters and feel unsure about what to do next. 

Over 170,000 people visit our website every month for help with debt problems. We’re here to help.

In this article, we’ll talk about:

•  Who Swift Credit Services are, and why they might be getting in touch with you.
•  How to tell if you really need to pay them.
•  Steps you can take if you can’t afford to pay.
•  What to do if you’re not sure the debt is yours.
•  How dealing with Swift Credit Services might change your credit score.

Our team has lots of experience with debt collectors like Swift Credit Services. We understand how it feels to have them on your back, and we know what you can do about it.

Why are Swift Credit Services Calling Me?

The local council in Merthyr Tydfil use Swift Credit Services, so you may receive letters from this firm regarding unpaid council tax, parking fines, etc.

However, they also work on behalf of private individuals such as landlords to collect rent arrears as well as unpaid invoices. 

So, Swift Credit Services could be getting in contact with you for any of your overdue bills or other arrears.

Are Swift Credit Services a Scam?

With so many postal scams circulating these days, it’s wise to question any debt collection letter you receive.

However, Swift Credit Services Debt Collection are a legitimate debt collection business that works on legitimate debt recovery and so their letters should never be discarded as spam.

Should I Just Ignore Swift Credit Services

You should not ignore the correspondence sent by this debt collection company. The risks of ignoring debts far outweigh any potential benefits.

If their letters go unanswered for long enough, they may send someone to your home, which can be an intimidating experience.

Here’s a case study from FlickyHecky:

“This morning at 7am i went to feed my cats and empty the litter tray. After I did this there was a knock at my door, i thought it was my neighbour, but no, it was a bailiff and I was given no warning!

Didn’t know who he was at first, but once he told me why he was here he basically walked inside, started spouting stuff about fees and payment, I was completely disoriented by all this.”

Instead, it’s best to respond as quickly as possible to prevent further action being taken. I’ll cover what you should include in your correspondence later in the guide.

» TAKE ACTION NOW: Fill out the short debt form

What if I’m Not Sure if I owe the Debt?

Whether or not you believe the debt to be legitimate, there are a few simple checks you should always carry out before making a payment:

1. Understand your credit score –  if the debt is listed under your name, you will be able to find it on your credit report.
2. Ask Swift Credit Services to provide evidence of the debt – they should be able to provide you with an original copy of the agreement.
3. Check if the debt is Statute Barred – if it statute barred, too much time has passed and they are no longer able to force you to pay the debt (find out more about Statute Barred Debt here).

What If I Am Unable to Afford to Pay Swift Credit Services?

Never take on more debt to pay off Swift Credit Services. If you are facing financial hardship, there are other options for debt management, and these will depend on your individual circumstances:

Snowball Method

If you have money left over after paying all your bills and necessities each month, you can use the snowball method to pay down debt quickly.

Find out if this is the right option for you here.

Full and final settlements

If you have a lump sum of money, you can negotiate a lowered final settlement with Swift Credit Services if paid upfront. Make sure to start with the lowest offer possible for payment.

Find out more about full and final settlements here.

Get a refund on the loan

In rare cases, you may be able to get a refund on the loan if you can prove that the original lender mis-sold you the loan. For example, if they let you take on debt knowing that you didn’t have the funds to make the monthly payments.

Find out if this is an option for you here.

Will I Need to Agree to Swift Credit Services Terms?

Debt collectors usually try to get the debt paid upfront and in full. But this doesn’t mean this is your only option.

In fact, if you cannot afford to pay the debt or doing so would put you in further financial hardship, you should speak to a debt charity. They will be able to advise you on the best steps forward.

You are within your right to negotiate a payment plan or reduced amount with Swift Credit Services.

If they refuse to come to an agreement with you, there are plenty of options available which I will look at below. 

Will Swift Credit Services Affect My Credit Score?

Yes, debt collectors like Swift Credit can affect your credit score.

Once you have missed a few payments or defaulted on an account with your original creditor – which negatively impacts your credit score too – and your debt is sold to collectors, it will appear as a second collection account on your credit file and the original entry may be marked as ‘sold’ which doesn’t look good!

 If they don’t add a second entry to your credit file, the entry for your original debt can be changed to add the debt collection company’s information. 

These collection accounts will negatively impact your credit. They are visible for 6 years and will impact your ability to get credit or use some credit products during this time.

This is because companies use your credit file and financial history to see if you are a ‘high-risk’ customer – someone who might have difficulty paying their bills on time. If you have a CCJ, you have had such trouble paying back your debt that someone had to go to court about it.

Understandably, companies are going to be reluctant to give you credit!

After 6 years, it is no longer visible on your credit report and you should find it easier to get credit again.

You also need to be aware that any debt solutions that you use will also be visible on your credit file for 6 years, and your credit score may be affected. However, once these 6 years are over, your debt solution will no longer be visible, and you may find it easier to get credit again.

What Legal Action Will Swift Credit Services Take Against Me?

If Swift cannot get in touch with you or you refuse to pay the debt owed, they do have the right to take you to court.

However, they will do all they can to recover the debt from you directly without involving the courts first.

This is the process for legal action from Swift Credit Services Debt Collection:

1. Send letters to get the debt paid directly
2. Call your home to get the debt paid directly
3. Give you a default notice notifying you that the account will be closed with two weeks’ notice to clear the account
4. Issue a County Court Judgement
5. Direct bailiffs to your property to recover some of your goods to make up the debt
6. Send for an attachment of earnings in an attempt to recover the debt from your salary
7. Apply for a Charging Order, which will secure the debt on your property (this is usually a last resort)

Will Swift Credit Services Send Bailiffs to My House?

 Although Swift Credit Services ltd are regulated enforcement officers, they are not permitted to send bailiffs to your property without being able to provide a warrant, together with written notice.

You should receive a letter stating that a warrant has been granted and that bailiffs will be visiting your property in two weeks time.

Also, this will never be the first step. Bailiffs are only required if you don’t come to other arrangements with the debt collectors first.

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.

How Do I Stop Swift Credit Services Calling Me?

Although phone calls and letters from a debt collector can be annoying and stressful, they are legally required to make reasonable attempts to contact you.

Because of this, there is no way to prevent them from contacting you altogether. But you can state your preferred communication preferences if you’d prefer to only deal with them over the phone or by post, for example.

How to Make a Complaint Against Swift Credit Services Ltd

Although debt collectors do have the right to contact you, many overstep the line and their actions could be classed as harassment.

First make a complaint with the firm directly:

Post: Marston, PO Box 12019, Epping, CM16 9EB

Email: [email protected]

If you don’t hear back or you’re unhappy with their response, you can escalate your complaint to the FCA.

To escalate the complaint, you need a record of the original complaint with Swift Credit Services as well as evidence of harassment or mistreatment.

Swift Credit Services Contact Information