Facing Idem Servicing Debt Collectors may seem daunting, and you may think you must pay immediately. However, there can be instances where you might not have to pay them.
But remember, avoiding them isn’t a good idea either. It’s because ignoring their reachouts can lead to a more complicated situation. So, you may be wondering what’s the best course of action. Stay tuned as we unveil your potential choices…
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Why You Might Not Need to Pay Iden Servicing Debt Collectors!
There are instances where you might not be required to pay Idem Servicing Debt Collectors. For instance, you could be off the hook if you can prove that,
Alternatively, you might also be eligible to write off the debt under certain debt solutions provided by the UK government. Hence, it’s crucial to understand your situation thoroughly before making any decisions.
Many individuals who have debt issues encounter similar circumstances. Thus, It’s important to know that you are not alone in facing these struggles.
This article aims to provide you with valuable insights on how to effectively address the situation with the company and navigate your debt-related challenges. Therefore, keep reading the article. You will gain enough knowledge to solve your debt issue with them by reading this article.
Who are Idem Servicing Debt Collection?
Idem Servicing is a reputable debt collection agency based in the Solihull area, UK. They have been doing debt collection operations for almost 4 decades since 1985. And Idem Servicing is a trading style of Paragon Finance PLC.
They generate their revenues mainly in two ways.
In simple terms, you will have to deal with Idem Servicing Debt Collection Agency, either if your original creditors have hired them or sold the ownership of your debt. This form of debt collection is a common practice in the industry.
Why have Idem Servicing Debt Collection contacting you?
Idem Servicing typically contacts individuals who they believe owe debts that they now manage. This could either be a debt that you’re aware of or a debt that they’ve bought, and you were not informed about. It’s also possible that they might have gotten the wrong information and contacted you mistakenly.
Hence, understanding why they are contacting you is the first step towards resolving the issue.
Are Idem Servicing Debt Collectors credible?
Yes, Idem Servicing is a legitimate debt collection company that operates in the UK. They oversee accounts on behalf of Idem Capital, a subsidiary of Paragon Finance. Their primary operations focus on recovering bad loans and credit account balances acquired by Idem Capital from various other financial institutions.”
Below are some of the facts that may help you to verify their legitimacy.
However, this does not automatically make every debt they claim legitimate. You have the right to question the validity of the debt and to ask for proof before making any payments.
Does this debt really belong to you?
It’s not uncommon for mix-ups to occur in the debt collection process. Sometimes, you may receive letters for a debt that isn’t yours due to errors in records or mistaken identity.
In such cases, you have the right to dispute the claim. For that, you need to write a request letter titled “Prove the Debt” to the Idem Servicing Debt Collection agency to send you proofs that show you really owe them. They are legally required to provide proof of the debt.
Plus, remember to keep a copy of the request letter and to send the letter via a trackable mail service. These copies will come in handy if Idem goes to court without replying to you with proof.
Their reply should at least include a copy of the original credit agreement that you had with your original lender. And you are not bound by law to pay a penny till they prove you really owe them.
I’ve found it I do owe the debt, what do I do next?
It’s important to keep calm and not make any rushed decisions if you’ve confirmed that the debt is indeed yours.
The easiest way to solve this debt issue is to settle the debt in one go and get done with it. However, most people do not have the luxury to do so due to their prevailing financial hardships.
In that case, you can negotiate with Idem Servicing to work out a manageable repayment plan. Also, consider seeking advice from a debt advisor to explore possible solutions.
Debt collection companies sometimes use aggressive tactics, such as bullying, constant phone calls, and applying pressure. Therefore, dealing with these tactics can lead to sleepless nights, fear, and anxiety for individuals pursued by debt collectors.
Shockingly, about half of people in the UK facing debt problems have reported feeling close to suicide. And that’s a troubling statistic that underscores the potential harm caused or exacerbated by debt collection agencies.
What are the regulations they need to follow?
There are rules and regulations that a debt collection agency needs to follow when conducting their debt collection operations in the UK.
Among them, all the debt collection agencies (including the Idem Servicing Debt Collection) need to adhere to rules and guidelines placed by the Financial Conduct Authority Guidelines (FCA’s Guidelines).
These guidelines entail:
Yes, it is a known fact that many debt collection agents sometimes break these rules. Sometimes, they practise these unethical practices without you even noticing. Thus, it is really important for you to have a good knowledge of their unethical practices and your rights when dealing with them.
What to do if Idem Servicing Debt Collectors violate your rights?
The first thing you should do is to gather provable proof as much as possible to make a valid complaint. For that, you can record phone calls, keep copies of mail communication, and note down their call times.
In the second step, you can make a complaint to the Idem Servicing Debt Collection agency’s head offices to give them a chance to resolve your issue internally.
As your third step, you can make a complaint to the Financial Ombudsman Service (FOS) and Financial Conduct Authority (FCA) if the Idem Servicing Debt Collection agency’s employees do not solve your issue fruitfully.
Keep in mind you need to provide strong provable proof in order to win a complaint against them. They will end up paying huge fines or compensations for you if FOS find out that the Idem Servicing agency has broken the rules when conducting debt collection practices.
What will they do?
Let’s unfold the mystery of what Idem Servicing might do if you can’t pay the debt. Their preferred route is to persuade you to agree on a repayment plan that suits your financial circumstances.
But their collection agents can show the following behaviours in order to make you accept such a payment plan.
Debt collectors may employ a change in attitude based on your responses. Initially friendly and helpful, they can become rude or aggressive if you indicate you can’t pay.
This tactic is designed to pressure you into making payments. It’s essential not to tolerate inappropriate behaviour and address it when necessary.
Debt collectors may resort to automated call technology if you consistently ignore their calls. These automated systems make repeated calls without human intervention. When you do answer, you might find silence on the other end.
Monitoring the frequency of these calls is important, as excessive calls can breach regulatory guidelines.
Some collectors may resort to discussing your debt with people other than yourself. It includes your family members or partners as well. This practice is against regulations set by the Financial Conduct Authority Guideline.
You have the right to report such behaviour.
Idem Servicing Debt Collection employs a bonus system for its debt collection agents. They receive a basic hourly wage but can increase their earnings through bonuses based on the amount of money they collect.
This incentive motivates collectors to strive for successful debt recoveries.
In extreme cases, debt collectors may resort to deception. They may falsely claim to be bailiffs or court officials, threatening legal action or property seizure.
It’s advisable to contact the police and report the collector’s behaviour to address the situation effectively if faced with such false claims.
Will I be able to write off my debt?
Sometimes, there are instances where you might find hardship in accepting payment plans suggested by Idem Servicing Debt Collectors. Dont worry. In those situations, There are a number of debt solutions available in the UK that you could use to write off some of your debt.
Below is a list of debt solutions available in the UK that you can use to get aid in solving your debt issue. We have created dedicated articles for each debt solution due to its higher importance. Feel free to check out them as well.
Or, simply fill out our online form by clicking here if you want personal help from our Money Advisor Team based on your current financial standing.
But keep in mind that choosing the right solution will aid you in writing off some of your debt. However, choosing the wrong one will worsen your debt situation. Here, the key is to determine what debt solution suits your personal financial situation in the best way possible.
Idem Servicing Debt Collectors Contact Details
Before contacting Idem Servicing, it’s recommended to have a thorough understanding of your rights and to possibly seek advice from a debt advisor. Below are some of the contact details you can use to get in touch with them.
|Company Name:||Idem Servicing|
|Other Names:||Paragon Finance PLC|
|Post:||Idem Servicing PO Box 16619, Solihull B91 9TU|
|Phone:||0345 322 7300
Mon to Fri: 9.00 am – 5.00 pm
Sat & Sun: Closed
|Numbers they call from:||01495529402
Should You Check For Other Debt Collectors?
Definitely! Being aware of all your outstanding debts and regularly checking your credit report can help you maintain better financial control. It also enables you to deal with any possible issues proactively.
To ensure your debts are under control, it’s crucial to take some steps. Begin by reviewing your bank statements, emails, and postal correspondence for any communications from debt collectors.
Here are a few prominent debt collection agencies to watch out for:
- Idem Servicing is a legitimate debt collection agency that may contact you regarding outstanding debts.
- However, don’t assume you need to pay without verifying the debt. Ensure Idem Servicing provides you with evidence and the original credit agreement.
- You’re not powerless, even if the debt does belong to you. You have the right to negotiate a repayment plan that aligns with your financial circumstances.
- The goal of Idem Servicing is to recover the debt. Therefore, they’re likely to agree on a payment plan rather than resort to legal action immediately.
- Make sure to keep all communication and agreements with Idem Servicing documented. This is crucial in case there are disagreements in the future.
- You can contact Idem Servicing to review and adjust it if you’re unable to stick to the agreed plan due to unforeseen circumstances.
- It’s essential to consult with debt advisory services if you’re facing financial hardship. They can provide you with free guidance to navigate your situation.
- You have several options if you can’t afford repayments. Solutions like Debt Relief Orders, Individual Voluntary Arrangements (IVA), or even bankruptcy can be considered. However, they have serious implications and should be discussed with a financial advisor.
- Remember, improper behaviour by Idem Servicing should be reported to the Financial Conduct Authority (FCA). You have rights as a debtor, and they should be respected.
- Many people in the UK could legally write off some of their debt. An IVA, for instance, could potentially help you to do so. Idem Servicing is obliged to provide you with information about such options.
Yes, Idem Servicing is a part of Paragon Finance PLC, which is authorised and regulated by the Financial Conduct Authority under reference number 707521.
Idem Servicing manages debts for Idem Capital. Idem Capital is the entity that purchases debts from other businesses and organisations.
Yes, Idem Servicing can potentially take you to court to recover the money you owe. If they intend to do this, you will receive a “Letter Before Action (LBA)” letter to inform you that they are going to court to solve the debt issue.
No, Idem Servicing does not have the power to issue a warrant or send you to prison. But, they can request a County Court Judgement (CCJ) from the Court. If this is successful, you might have bailiffs at your door attempting to seize goods equivalent to your debt.
No, Idem Servicing is not a bailiff. However, they can request a CCJ, which could result in bailiffs being dispatched. You will be notified beforehand via a “Letter Before Action (LBA)” letter if they intend to take a County Court Judgement (CCJ) against you.
Although Idem Servicing can send agents to your home, these agents have no legal rights. Therefore, you can ask them to leave. However, bailiffs may be sent to your home through a CCJ.
No, Idem Servicing does not have the right to force entry into your home. They can instruct bailiffs to visit your property, but they don’t possess any standalone legal powers over you.
No, Idem Servicing is persistent in recovering the debt. They will try every possible avenue to get the debt paid, potentially pursuing you for up to 6 years.