If you have ever taken out loans or have unsecured debt or bills that you have missed payments on, then you may have received a letter from TTI SPC debt collection in relation to this.
Receiving letters from any debt collection agency can be a troubling time and can lead to sleepless nights and, even worse, entering into more debt. If you’re trying to figure out how you’re going to pay TI SPC, it’s important to explore your options.
This guide will tell you everything you need to know about dealing with TTI SPC debt collection.
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.
Deal with your debt today and feel better tomorrow.
Who are TTI SPC debt collection?
TTI SPC are a debt collection agency that work on behalf of a creditor to whom you owe money to.
They often work to recover debt for HMRC, council tax, gas and electric or other utility companies, O2, EE, NPower, Virgin and other parking and fine agencies.
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:
Are they a legitimate company?
Yes. TTI SPC are a legitimate firm that has been around since 2008 and specialise in debt recovery working in accordance with the FCA and ICO. Their license numbers can be found on their website.
Why are TTI SPC contacting me?
TTI SPC debt collection will be contacting you because you owe debt to someone. It will likely be missed payments to one of the listed companies above or similar ones.
They may have also acquired your debt from these companies and will now be seeking to recover that debt for their own gain. This is a legal process and many debt collection firms bulk purchase debt in order to make a profit.
Find your best 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. Answer the four questions now.
Should I ignore letters from TTI SPC
No, it is never a good idea to simply avoid any legitimate correspondence from debt collection agencies. They will not stop trying to get in contact with you and eventually they will send agents or take you to court over the debt.
It’s better to establish a dialogue with them and avoid any extra unnecessary hassle and stress.
Even if the letters are not actually for you or a member of your household it is always better to get in touch with the agency rather than continue to receive calls or letters and explain what has happened.
When you do speak to anyone at TTI SPC, let them know that you dispute the claims of debt being owed and are looking into your options.
Should I pay TTI SPC the money I owe?
It is never a good idea just to pay up the money that they claim you owe. First, establish if the debt is actually yours. It is unusual but there will be rare occasions where they get names wrong and it’s not actually even your debt.
You should also not make any payments if it puts you into further debt. If you cannot afford to pay the debt, ask for time to work out the best course of action.
Typically the agency will agree to an affordable repayment plan of some or all of the debt.
If you agree the debt is yours, and are in a position to pay it off, then the quicker you can do so the sooner you can expect to stop receiving letters and calls regarding it.
But make sure to check out all the information in this post before simply handing over the cash
What action can TTI SPC take against me?
If the debt is yours and you refuse to pay what is owed, then they will have several stages of action.
The first stage will be to try to re-establish contact by letter or phone call. If you still refuse to answer any correspondence then they may send their own agents out to try to make contact.
These are not bailiffs and have no right to enter your property nor remove items and must leave if asked to. Their only job is to ensure you still reside at the property.
Begin Court Proceedings
Failing to make any contact means that TTI SPC debt collection will likely take you to court. If they do this they could file a County Court Judgement against you, which will compel you to repay the debt you owe.
In some cases, they may be able to apply for an Attachment of Earnings Order which would directly recover money from your pay before you are paid.
Get a Warrant for Bailiffs
If they do take you to court, they will also be able to then request bailiffs attend the property and remove items that equal the value of the debt. These will be high court bailiffs that do have the right to remove property and enter your home.
It is important to note that if bailiffs come to your property they cannot seize anything that may put you in hardship, such as removing your cooker, fridge or car in a single-car home.
Can TTI SPC repossess my house?
It is highly unlikely that your house could be repossessed if your debt is unsecured, meaning that you will not have used your home to secure the finance.
As a last resort though, the debt collectors can apply for a Charging Order, which would secure the debt against your house.
Can I stop TTI SPC contacting me?
In short, no you can’t stop them from contacting you. They have the right to send letters or try to ring you in order to inform you of the debt and any action they are taking.
You can, however, tell them of your preferred means of contact and they will be legally bound to honour the way in which you select to be contacted.
If you feel harassed by TTI SPC debt collection, you may have a case to lodge a complaint with them or the FCA.
They are honour bound by the rules and regulations set out by the Financial Conduct Authority and therefore should not break any of the official contact regulations.
If you feel that TTI SPC have broken any of these rules and are harassing you then it is best to lodge a complaint directly with the company first. This should be taken seriously and not be reflective on any debt claim they have against you.
- TTI SPC contact number: 0844 8092 670
- Address: PO BOX 9674, London, W6 6FT
What do I Need to Do if I Receive a Letter From TTI SPC?
If you receive a letter from TTI SPC regarding unpaid debt, there are a few things that you should do.
1. Ensure the debt is legitimate
First and foremost, as mentioned above, you should make sure that the debt is actually yours. There is a very low chance that they have made a mistake but it is not impossible to get names or addresses muddled up. If they have made a mistake or the debt holder is no longer at the address just phone the company and explain the situation and then you should not be bothered again.
2. Ask for proof
If you believe the debt is yours you should then ask TTI SPC debt collection to prove the debt. They must do this by sending you a copy of the finance agreement you signed before you received credit or on the bill you agreed to pay.If they cannot prove that the debt is yours then they cannot take you to court to force you to pay it.
Follow my ‘prove it’ guide with letter templates and get them to prove that you owe the money.
It is worth noting that until they have proved the debt is yours it is better not to sign any forms for them as although they are a legitimate firm and act within the honour bound code of the FCA, they could technically forge that signature on a debt agreement.
3. Check the statute of limitations
If they are able to prove that the debt is yours then next you should check to see if the debt is statute barred.
In England, debt can only be recovered up to six years following the final payment made or you acknowledge the debt to the creditor. In Scotland it is five years.
In order to uphold a statute barring, you must not have made any payments nor acknowledged the debt in writing for either five or six years depending on where you are in the UK. You can also not have a county court judgement already against you.
What happens if I cannot afford to pay TTI SPC?
If you are sure the debt is yours and you cannot afford to pay it, there are several options still available to you.
Talk to TTI SPC
Firstly, see if TTI SPC will agree to a debt repayment plan that makes the payments monthly and affordable for you.
The repayments need to be realistic in terms of being affordable and a suitable amount to reduce your debt in a reasonable timeframe.
Write off your debt
Alternatively you may be able to write off some of the debt. This will need to be done in an appropriate scheme such as an Individual Voluntary Arrangement where this and other debts are combined and you pay back an affordable amount monthly, usually for five years, after which any remaining debt is written off.
Other options include:
Still Unsure of How to Deal with TTI SPC Debt Collection?
If you’d like to explore your options more, make sure to check out this debt management guide which gives more detail on the different routes you can take to free yourself from debt.