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TBI Financial Services Ltd Debt Collectors is a debt collection company who chase people for payments of their debt. As debt collection agencies are not the original credit company, you may not recognise them. This is because they chase the payment on behalf of other companies, such as banks, credit card companies etc. In some cases, the debt collection agencies push the boundaries, and make the lives of debtors miserable. They often prey on those who can’t afford to make payments, and pressurise them into paying. Getting contact like this from debt collectors is stressful, and people often feel overwhelmed and unsure of what to do next. Read on to find out more.

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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TBI Financial Services Ltd Debt Collectors

Who are TBI Financial Services Ltd?

TBI is registered in the UK and manages various debt portfolios for credit card companies, UK banks and finance companies. The company also assists with debt collecting, and has been trading since 2014.

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:

Write off up to 85% of your debts

This 4 question debt calculator will tell you if you’re eligible.

What is the total amount of your debt?

Person is panic when debt collectors are calling

If TBI Financial Services Ltd are hassling you, it is important to remain calm and not let them stress you out. They want to make you feel stressed, so that you just pay up to get peace and quiet. The main aim is to ensure you contact them and arrange payment or pay the debt, which is why they are so persistent in their contact. It is important to ensure open communication with the debtors. Don’t run away and try to hide from your debt, as it won’t just disappear. The main thing is to ensure that if you pay, it won’t leave you in a more difficult situation. Stay calm and deal with the situation in a patient, calm and collected manner.

Find your best debt solution (in 1 minute!)

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. If you’re eligible for the new government scheme, you could write off up to 85% of your debt! Answer the four questions now.

fight back when you get a debt collection letter

How to deal with your debt

If you want to get out of debt, there are some options available to you, and these will depend on your individual situation.

If you are unable to afford to clear the debt, the best option would be to enter into a debt management plan or alternatively, an IVA – which will allow you to completely right off most of your unsecured debt. It is important to seek advice on this, as it is quite a drastic option to take. It will seriously affect your ability to get credit in the future. If you are planning on getting a mortgage anytime soon, this may not be the best option.

There is also the option of applying for a ‘logbook loan’ which can be a very good option.With a logbook loan, it is secured on your car, but you still get to keep your car, and your cash. This is why it can be such an attractive option, as you don’t need to give up your car.

Another option if you have a low credit score, is a credit-check guarantor loan. With a guarantor loan, your own credit score is not taken into account, only that of the person acting as a guarantor. The tricky part is that you need to find someone who is willing to be a guarantor. Most people will choose a family member or friend to take this on, but it can obviously cause friction if you fail to make the payments, so be careful with this option. Click this link for Unsecured Loans that don’t need you to be credit checked.

If you decide to use a debt management plan, we can provide you with a whole-of-market service, where there is a range of debt management experts who are on our panel. No matter what your circumstances may be, your application will ensure you find that right plan for you, meaning the best option for your situation.This also means that there are no minimum requirements for levels of debt or income.

See my debt options overview page outlining all your possible debt options and pros and cons of each.

TBI Financial Services Ltd Contact Details

Name: TBI Financial Services Ltd
Also Known As: TBI Ltd, TBI Limited, TBI Debt Collectors, TBI Reading, TBI Financial Ltd Reading, etc.
Address: 1st Floor The Robert Cort Building, Elgar Road South, Reading RG2 0DL
Telephone: 0118 9313800
Fax: 0118 9752296
Email: edgarktbi@aol.com is the email address given in DBSG. They use an AOL account: how’s that for a great corporate image!!!
Extra Data: There doesn’t appear to be any information on the operations of this lot, though they are mentioned in the consumer forums as being debt collectors for HFC (GM) credit cards.

TBI Financial Services Ltd and What You Need to Know About the Debt

TBI Financial Services Limited operate as a debt collection company who have purchased the debt account from another creditor (or it may be another debt collector) for a small sum or percentage of the debt value. This means that as soon as they start getting payments from you, they make money. It also means that if they fail to take in any payments, they lose money.

TBI Financial Services Ltd will try everything to get you to either make a payment or set up a direct debit or standing order, as they want to make a profit. You may have dealt with debt collection agencies in the past, or this may all be completely new to you. They may go as far as to keep calling you in an erratic manner, in an attempt to get payment. They may also send out nasty letters which come across as threatening, and they may say they plan to take you to court. Other strategies include telling you they plan to pay you a visit to get the funds.

If you want more information on the debt, you shouldn’t hesitate to ask TBI Financial Services Ltd for a copy of the original agreement.

If you wish to find out if you qualify for an IVA or that you may benefit from a debt management programme, try the IVA Test. It does not cost anything to apply for this, and you will also be protected from consumer laws regarding debt management at all stages. Click here to go to the application form.

More Information On TBI Financial Services Ltd

If you know more about TBI Financial Services Ltd and you would like the opportunity to share this for other people who may need advice and information on them,you can send us an email in confidence and we will try to deal with this situation for you.

References

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

CONC 7.9 Contact with customers

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About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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