Dealing with Creation Finance may seem daunting. But it’s vital to remember not everyone is required to make a payment. Yet, brushing them aside could lead to escalated enforcement actions, which could further complicate matters.
Well, I’m here to guide you through your options… Let’s delve into what awaits you.
Table of Contents
Who is Creation Finance ?
Creation Finance is an established financial institution in the UK that provides various services. It was started in 1973 as a sub-division of the Selfridges that provide financial services. The company has gone through several rebranding and ownership changes over the years. But now, BNP Paribas owns the company.
They issue credit cards under their own name and also via partnerships with other brands in major high street retailers, travel companies, and football clubs.
They are authorised and regulated under Financial Conduct Authority (FCA). It’s also reputed for its robust debt collection mechanism while known for its diligent service. Creation Finance’s primary objective is to facilitate smooth financial operations for its customers.
Creation Finance has to manage debt collection when a customer fails to repay their debts on time while providing the above services.
This means Creation Financial Services will chase you down instead of the partnering company if you have unpaid credit debt, Loan instalments, or finance payments to one of their partnering companies.
|Registered Address:|| 4th – 6th floor Wellington Buildings,
2-4 Wellington Street, Belfast, BT1 6HT
|Phone:||0800 783 5881|
Overall Google Map review Score of Creation Finance is – 1.6 out of 768 reviews.
Below are some reviews taken straight from their Google map review section.
Utterly horrendous customer service. Card is constantly declined, despite have online codes etc, cant tap but does work when pin uses . Online app says card is not locked and no chat function etc in app. Customer service is non existent. Paid a large amount into account by accident, took 3 weeks to respond to email and decided £10 was adequate compensation despite having been charged interest on another card as I couldn’t release the funds. Telephone just cuts off as soon as you press 3 to speak to an advisor… Read more
Awful. Someone has taken out a loan fraudulently in my name, after I’ve had 3 instances raised with Action Fraud. It’s impossible to get in touch with them to report this issue…Read more
Click here to see more reviews yourself…
Why is Creation Finance’s Debt Collection Department Reaching Out?
It means you have an outstanding debt if the debt collection department of Creation Finance contacts you. Sometimes you might scratch your head while thinking, who are these people?
It’s their business model. So they do not care about your life’s current circumstances.
Their reach out could be because of
The institution follows strict protocols in debt recovery while ensuring adherence to the Financial Conduct Authority’s guidelines.
Identify if the Outstanding Debt Belongs to You
Verify if the debt claimed truly belongs to you before taking any action. Mistakes can happen. Thus it’s essential to confirm the debt details.
Most probably, you will see the cost has risen considerably higher compared to the original value. It’s because they might have added the due interest and charges to it. Always gather all the information you need to decide whether to pay it or not.
You can ignore them if they do not reach out to you with the requested proof. But always keep copies of every conversation, email, and letter you exchange with them. They will come in handy if the situation escalates to a court case in the end.
Creation Finance is bound by law to provide answers to any question you ask regarding the debt case.
If the debt is yours, consider repayment options.
Is it Necessary to Pay Off This Debt ?
Simply put, yes. It’s better to consider settling the debt after verification. (only if you have the capability.) But you should avoid paying if settling the debt at once increases your financial life vulnerability.
Instead, reach out to Creation Finance and deal with them to get an agreement to pay in instalments or partial payments to clear your debt.
Debts reflect on your credit report and can impact your future financial decisions.
Besides, unpaid debts incur interest. This means the longer you wait, grows larger the amount you have to pay back.
However, it’s crucial to ensure you’re treated fairly in the process.
How is Creation Finance Affecting Your Quality of Life ?
Debt collection can be stressful and leads to distress and negative impacts on mental health. These debt-recovering firms make money by acquiring total (or to some extent) from people who have arrears in debt. Thus they will stop at nothing until they recover atleast a penny.
Creation Finance may resort to persistent reminders and even empty threats to recover their money same as any other debt collector. It’s crucial to maintain resilience during these times and seek help when needed.
Understanding the Legal Responsibilities Tied to Creation Finance Debt Collection
Creation Finance follows guidelines set by the Financial Conduct Authority. They have the right to contact you regarding your debt. But they can’t harass you or misrepresent the amount you owe.
Also, they have to follow their conduct of debt collection business according to guidelines given by the Office OF Fair Trade(OFT, click here to read the policy). These guidelines help to secure credit debt borrowers’ rights and prevent debt collectors from using unlawful tactics to collect their money.
Below are some key points mentioned in the guideline,
You can report(make a complaint) Creation Finance to OFT if they fail to follow this guideline at any time during the conduct.
Knowledge of these legal parameters can provide a buffer against undue stress.
Are You Aware of How the Debt Collection Procedure at Creation Finance Works ?
Understanding how Creation Finance handles debt collection can be instrumental in helping you navigate your current situation. In simple words, the process unfolds in several stages.
It all begins when Creation Finance first reaches out to you. You’ll likely receive a phone call or a letter.
But what’s the intention behind this? Well, it is a simple goal. And that’s to notify you of the debt.
You may be wondering now, what comes next?
Creation Finance will need to validate the debt after the initial contact. You should send them a letter asking for a written copy of proof that shows you owe them money.
And you should also keep a photocopy of the letter you sent them. This photocopy will come in handy if they fail to reply but escalate the case to court.
What does this mean?
In essence, they need to confirm that the debt is indeed yours. They do this by sharing detailed information about the debt.
This usually includes
This is a crucial step, but what happens if you can’t repay the debt?
Now, we move on to the repayment process. Creation Finance will start initiating the repayment scheme. They’ll offer you several options on how to repay the debt. You might be thinking this sounds straightforward.
These options may include,
However, life is unpredictable, and sometimes you might find yourself unable to repay. So, what happens in that situation?
Creation Finance will keep trying to reach out to you using all the contact methods that they have for you. Even in extreme cases, they will visit your home sometime to talk to you physically.
Debt collection agents do not have law enforcement powers same like bailiffs do. Therefore you are needed open your door for Creation Finance agents at. We strongly suggest not speaking with these agents, as they can manipulate you to end up paying.
But at some point, you need to communicate with them and come to an agreement.
You can use
3. And phone calls for that purpose.
Because otherwise, they will surely go to court to solve this matter, and it’s not good for you.
Next, They will take your case to court and take a CCJ against you if you keep ignoring it for some time. This CCJ allows Creation Finance to hire bailiffs to solve this matter.
The bailiffs have the power to visit your home and seize valuable items of yours and sell them in an auction to recover the total debt.
And also, they can take a request from the court to cut some money from the monthly wage of your steady job without notifying you.
Therefore we strongly suggest you do not ignore their reach outs.
Creation Finance also has contingency plans like any other debt collection agency does. They might sell your debts to a third-party collection agency if you cannot repay your debt.
So, You’d be facing a new entity instead of dealing with Creation Finance. This may sound daunting. But keep in mind that knowledge is power. Thus understanding this process can help you better prepare for what’s to come.
Decoding Empty Threats from Debt Collectors
Including Creation Finance, it’s common to encounter threats when dealing with debt collectors. Can you imagine receiving a call threatening court action or a visit from a bailiff intending to seize your possessions? It’s terrifying, especially if you’re unfamiliar with such situations.
- But should you be terrified?
The answer might surprise you. No, you shouldn’t. These threats are often just empty words designed to intimidate you into paying up.
- So, what can you do if the threats persist?
You should stand your ground. Refuse them entry to your home. Take proactive steps if they continue. It’s better to Contact the police and inform them about these threats. Keep in mind that you have the right to feel safe inside your own home.
But what’s next?
Stay tuned. In the next section, we will explore how you can stand up to debt collectors and regain control of your financial situation.
Asserting Your Rights Against Debt Collectors.
You also have rights while you repay your debts. You can refuse entry to debt collectors into your home and report harassment to the authorities. You’re protected by various laws and regulations designed to prevent predatory debt collection practices.
You can complain to Financial Ombudsmen if you feel like the Debt Collector (including Creation Finance) is breaking the law.
So do not be afraid of them. The UK Government has established many institutes to handle these kinds of issues. So please reach out to them and seek help.
Seeking Help for Your Debt Situation
Debt can feel overwhelming. But various organisations offer help. Below are some reputed organisations that provide the support you need to solve debt problems.
Methods for Debt Resolution
You can clear your debt through
Both options have their criteria and can be beneficial if you’re unable to repay your debt in full.
Taking a Stand Against Aggressive Debt Collectors
Surprisingly, Some debt collection agencies(including Creation Finance) remain relentless despite constant warnings from professional bodies and government guidelines. Their aggressive behaviour continues to affect vulnerable individuals negatively. And often leading to severe mental distress.
But it doesn’t have to be this way. You can fight back and retake control.
First, it’s important to remember that you don’t need to endure harassment while repayment of your debt is necessary. Creation Finance must adhere to the Financial Conduct Authority’s guidelines, like all debt collection agencies.
- But what if they cross the line?
You can report them to the Financial Ombudsman. This action might even cause them to lose their license.
You can devise a plan with help from various organisations mentioned in this article. In some cases, the debt issuers get agrees to reduce your repayable amount and spread out repayments to fit your situation.
Don’t forget. You’re not alone in this. The journey ahead may seem daunting. But remember, every step you take towards resolving your debt issue with Creation Finance is a step towards financial freedom.
Other Debt Collection Agencies You May Find on Your Credit Report
Apart from Creation Finance, other agencies such as Cabot, PRA Group, and Lowell also appear on your credit report if they purchase your debt. Keep an eye on your credit report and investigate any unfamiliar entries.
Contact Information for Creation Finance
It’s better to reach out to Creation Finance using one of the methods shown below if you have any questions or concerns. Their contact information can be found on their official website.
|Post:|| Creation Customer Enquiries
Chadwick House, Blenheim Court, Solihull, B91 2AA
|Phone:|| Card customers 0371 376 9214*
Loans customers 0371 402 3419*
Finance agreement customers 0371 402 8905*
Insurance (incl. motor) customers 0371 376 9200*
Motor finance agreement customers 0371 512 1983*
Yes, Creation Financial Services has the legal right to take you to court if you fail to repay the debt, like any other debt collection agency.
But here’s a thing to remember, They usually resort to this option only when all other attempts to collect the debt have failed.
In the UK, you can’t be sent to jail for failing to pay your debts. There is a chance you might end up in jail If it’s a fine or tax imposed by a court. Remember that debt is not a criminal offence but a civil matter.
Creation Financial Services themselves cannot issue a warrant. However, The court can issue a warrant if they take you to court and you fail to comply with a CCJ.
Creation Financial Services cannot act as bailiffs. If a debt is escalated to the stage of enforcement action( a separate entity), such as a court-appointed bailiff would be involved.
Debt collection agencies like Creation Financial Services usually cannot visit your home without your permission unless acting on a court order.
Debt collection agencies cannot force their way into your home. Only bailiffs acting on certain types of debts have this power. And even then, there are restrictions.
Creation Financial Services will cease contact
You can ask them to stop by writing a formal letter if their way of contact is distressing or unreasonable.
In the UK, most types of debt are subject to a statute of limitations. It means they become ‘statute barred’ after six years.
However, the rules and conditions are to needed to subject your debt to that state are complicated. And that doesn’t apply to all types of debt.
In general, creditors can pursue an unpaid debt indefinitely. However, they can’t enforce it through the court if the debt is statute-barred.
Yes, debts can be written off.
But this generally happens when the debtor has no,
Alternatively, there is a chance to write off some of your debts if you enter into an Individual Voluntary Arrangement (IVA) or declare bankruptcy.