A Debt Collection Company (Debt Collector) will collect overdue debts either on behalf of a company or after buying overdue debts from other companies that you may have missed payments to. These can be from Loan Companies, Banks, Finance Companies, Utility Companies, Store Card Companies, Catalogues, Councils and many more.
Usually when you first fall into arrears your account will be passed to a collection department within the organisation, often under a different company name a subsidiary of the original company. They will attempt to collect the debts before selling the debt to a third party debt collection agency (debt buyers).
These debt buyers purchase debts at a percentage of the outstanding balance and then pursue the customer for payment of the whole amount, demanding payment in full.
|The Financial Conduct Authority lays out rules and guidelines on how companies can operate in the consumer credit industry and to prevent unfair practices. The FCAs debt collection rules and guidance sets out minimum standards that all authorised companies involved in debt recovery and debt collection must adhere to in order to be considered fit to operate as a debt collector.
Examples of unfair practices include claiming unfair or excessive collection charges, harrassment, misrepresenting enforcement powers (threatening to seize property when lawfully they cannot), bypassing an appointed representative and contacting you directly, threatening legal action when it is unlikely to take place.
If you have a debt with Spratt Endicott or another debt collection company and are struggling with the payments click here to contact usor submit your details in the contact form to the right of your screen for instant debt advice.
Contact Humber Debt Solutions Debt Specialist team today for confidential advice. We may be able help you by arranging a reduced repayment plan to Spratt Endicott on your behalf and dealing with your debts for you.
As part of our Debt Directory we have listed most of the Debt Collection Companies that operate within the UK, providing you with upto date information on each company. You can find this here Debt Collection Companies Debt Directory
To help you we have provided contact details and company information for Spratt Endicott below.
South Bar Street