Debt Managers Ltd is a collection agency; they can buy debts from various sources and pursue them legally. The most common debts for collection agencies are municipal tax arrears, parking tickets, benefit overpayments, loan payments, credit cards, phone bills, online water bills, and bills. They will also pursue outstanding payments and contact you at names of other companies. If you are unable to pay the full amount, you may be able to agree with the Ltd Debt Collectors debt managers to make a partial payment or set up a payment plan.
You can cancel any amount of money you owe Debt Managers Ltd if you have a total of £6000 or more in unsecured liabilities. It's important to note that Debt Managers Services Ltd can send a debt collector to your residence, but they will first need to give you advance notice. Of course, Debt Managers Ltd can contact you for debt repayment, but they must follow the guidelines set by the Financial Conduct Authority (FCA). Creditors such as Debt Managers Ltd use computer systems (customer relationship management systems or CRMs) to keep abreast of their debtors and often follow a process that will allow them to reap the most benefit.
With your consent, MoneyNerd can transfer you to a trusted insolvency specialist if you need debt advice. You should know that the debt collection agent who comes to visit your home has no extralegal authority. Debt Managers Ltd Debt Collectors agents can receive bonuses, depending on the amount of money they contribute. MoneyNerd offers information services on personal debts, credit agreements, secured loans and capital release.
If you are struggling to cope and need help with how debt collectors behave, you can report this to the OFT using this online complaint form. When dealing with a company regulated by the Financial Conduct Authority (FCA), there will be a process that Debt Managers Services Ltd will follow if a bankruptcy lawsuit is filed or an individual voluntary settlement is sought. If you receive debt collection demands directed at your management, but it's not really yours, don't respond, as there's no point in wasting time and money on something that doesn't involve you at all. There are several debt solutions in the UK, choosing the right one can take years off your debt, but the wrong one can be costly and time-consuming.