What should I do if I get contacted by a debt collection agency?

If you’re being contacted by more than one debt collection agency at the same time it’s best to contact the original creditor to explain what’s happening. They should tell you which company is dealing with your debt and stop the other company contacting you. Some debt collection agencies use more than one trading name.

Can a debt collector contact a third party?

The Fair Debt Collection Practices Act allows debt collectors to contact certain third parties, including employers, only to get contact and location information about you. This means that debt collectors can contact your employer to confirm your employment.

What happens if you stop a call from a debt collector?

Note that debt collector calls may resume if another collection agency purchases or is assigned to that debt. It’s also important to note that stopping calls from collections agencies will not absolve you of any debts you are legally obligated to pay.

How is a debt collection agency regulated in the UK?

Most debt collection agencies in the UK are regulated by the Financial Conduct Authority (FCA) and hold a valid consumer credit licence. You can contact the FCA to check if a collection agency is licensed or check the FCA register .

What happens when debt is assigned to a collection agency?

If the debt is assigned to a collection agency, but still owned by the creditor, generally, the collection agency can’t sue you without the original creditor’s authorization. If the original creditor insists that the agency collect 100% of the debt, the agency can’t accept less from you without getting the original creditor’s okay.

Can a debt collector contact anyone else about your debt?

In talking with a debt collector, be careful about sharing your personal or financial information, especially if you’re not already familiar with the collector. Can a debt collector contact anyone else about my debt? A debt collector generally can’t discuss your debt with anyone but you or your spouse.

When to contact creditors and collection agencies the best?

When you’re in debt and cannot afford the payment, don’t wait for the creditors or the collection agencies (CAs) to contact you. Instead, you should contact them and ask for a new repayment plan.

How to get a hold of a collection agency?

When contacting the collection agency, make sure that you refer to the debt by listing the account number and not as “my debt”. What to check: Before you think about how to get a hold of a collections agency, first, check twice that you actually owe the debt. Check your credit reports to get the required details of your debt account (s).