What To Do If You Get A Nasty Letter or Phone Call From:
If you are currently having problems with debt collectors, or if you suspect them of using illicit or unfair tactics, then please contact the BBC in complete confidence at the following email address:
(United Kingdom enquiries only, please)
is a debt purchasing company or debt collecting company listed in the
website of the DBSG
(The Debt Buyers and Sellers Group) and/or mentioned in consumer finance
forms. They have a legitimate function as debt collectors, but there
is some indication that some such companies (not necessarily Equidebt),
and especially the debt purchasing element, go a bit too far sometimes
and can make people's lives a misery when those same people are at their
most vulnerable. We do not suggest that they are acting outside the
law, but getting that letter or phone call is not exactly helpful to
you right now.
So the first thing
you must do if Equidebt is bothering you is not to panic or
despair. That's just what they want! They'd love you to call
their number and speak to their specially trained sales team for 'advice'.
But once you do that you'll be suggestible to whatever they tell you,
instead of getting independent advice. While we always say that you
should keep an open dialogue with debt collectors, we would recommend
that you do so in writing only. This will prevent them 'railroading'
you into any action which is not in your best interests, as they so
love talking people into doing things on the spur of the moment. Of
course, they are only doing their job, but that's hardly a consolation
for you in the present situation.
Breaking News: Equidebt have gone into administration! The debt collectors Equidebt have gone bust, becoming debtors themselves and owing banks millions. Apparently their portfolios are to be handled by Cabot. So remember, if you get letters of assignment from Cabot, ask them for the original credit agreement copy. The chances are, with all the chaos at Equidebt, that they'll just not have them!
A sensible option,
we would suggest, is a debt management plan or even an IVA - which is
designed to actually write off a large chunk of your unsecured debt.
But you would need to take advice on this and look at your income and
expenditure in detail. This option won't suit everyone. There's more
on this below.
As an alternative
you could apply for a 'logbook loan' which many people
find a very handy option. It is actually a loan secured on your car,
except you get to keep the car and keep the cash as well! That's why
some people find it such a good idea, as it unlocks the equity in your
vehicle without taking away your means of transport (there's no need
to sell the car). To apply
for a logbook loan click here.
Yet another option
is a no credit-check guarantor loan. This is especially
useful because your own credit rating is not looked at; you must find
someone else willing to act as a guarantor for you such as a friend
or family member. This is an ideal solution if you're at the stage where
your credit profile has been downgraded by recent events, etc. So click
the following link for Unsecured Loans
that don't need you to be credit checked.
If you wanted to
try a debt management plan, then we provide a whole-of-market service,
with a number of debt management experts on our panel. So whatever your
circumstances, your application will find the plan for you, meaning
the optimum outcome for your situation. It also means
there are no minimum requirements for debt levels or income.
So apply for a debt management plan using the form below.
Registry. Consumer Credit Licence number 633327.
Also Known As: Equidebt Ltd, Equidebt Debt Collectors, Equidebt Coventry.
Address: Equity House, Ettington Road, Wellesbourne CV35 9GA
Telephone: 01789 472 172
Fax: 01789 472 140
Get a free QuickCreditScore
check by applying
Equidebt and the
Truth About Your Debt
Limited is a debt collection agency which has purchased a debt account
from the original lending source (or in some cases an intermediary or
third party) for a small percentage of the original value and is attempting
to get the full sum of the original from you.
Ltd will use all sorts of methods to get you to set up a standing
order in order to profit from your ignorance of the law. You may already
have had bad and terrifying experiences of them. They may phone you
up at odd times and do so unacceptably often. They may write you official-appearing
sternly drafted letters threatening to 'send the boys round' to collect
the full amount or take you to court if you cannot pay. Other tricks
will include saying that they will make a charging order on your property
or in some way cause you great personal suffering.
So ask Equidebt
for a copy of the original contract when you took out your loan or credit
Data On Equidebt
you have any information that you would like honest people to know
about Equidebt then send us an email in complete confidence and we
will try to corroborate it with those involved.
be aware that figures entered need to be accurate by law, and to give
the best service to you. It is extremely important that you budget for
all necessary expenditure including rent or mortgage, council tax and
utility bills, etc., and any other necessary outgoings related to the
upkeep of your household and in relation to any specific circumstances
which may apply to you or your household. This Equidebt website only
collects data on behalf of debt management professionals, from which
it will receive affiliate remuneration for data collection only and
does not itself engage in any debt management services. Other debt management
options are available and may be more suitable. People entering into
an IVA or debt management will have this entered on their credit profile
and this may affect their ability to get credit in the short term or
even in the long term in some cases. It is free to apply from this website;
you will be given advice by debt management professionals and a 'cooling
off' period, by law, to decide whether or not the debt management plan
is suitable for you, and you should be aware that a fee will be chargeable
upon a successful arrangement, as with any commercial transaction. Failure
to meet the repayments on an IVA or any debt management programme may
result in serious consequences, including, but not limited to, bankruptcy.
Bankruptcies, CCJs and similar defaults will be entered into a public
register and will remain there for a statutory period of not less than
six (6) years.
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a look at the Insolvency Service's leaflet called 'In Debt', downloadable
of Debt Collectors
Please note that independent advice is available on debt, debt collecting and debt purchasing.
Equidebt website is part of DPC Registry website group. All rights reserved.
Complaints Against Equidebt debt collectors.