There is no tantrum when you are capable of repaying your debt instalments. But, scenarios might hit you hard when you receive a Capital Resolve letter stating that you owe money to them. Whereas you can’t recognize the company or can’t remember when you availed credit from them. Additionally, you might receive calls from the same agency. So, what’s going on?
Well, it’s nothing but a debt collection agency. And yes, they are relentless to collect debts from you. There are chances that your creditors might have sold your debt to them, or just assigned them to recoup the unpaid debt from you on their behalf. Whatever the instances are, learn how you can stop harassment from Capital Resolve.
Capital Resolve: Who are they?
Capital Resolve Ltd. is an FCA authorized debt collection company operating in the United Kingdom. If you receive any letter from them, ensure that it mentions the full name of the company and isn’t a scam. Capital Resolve letters indicate that you owe money to their clients.
The Capital Resolve letter would specify how much you owe and to whom. In addition to this, you would find the tight deadline by which you have to pay the entire debt. However, circumstances might get complicated if you think that you don’t owe anyone anything and still Capital Resolve is chasing you. Contact them if you believe that their claims are false.
Do You Really own Debt to Capital Resolve?
Once you get the Capital Resolve letter make sure that the information there is legitimate. It should specify to whom you owe money, in case you haven’t paid them already. If you have cleared off the debt that they’re currently claiming, contact them with enough evidence. On the other hand, if you find that your account details have been shared with Capital Resolve, then you obviously owe money to them. Your creditors or lenders might have appointed the debt collector company to chase you for the debt repayments.
How Old is the Debt?
Go through the Capital Resolve letter thoroughly to examine the debt details for what they are following you now. In the United Kingdom, there’s a definite time span for which a company can chase its customers to repay the debts. If this time span gets over, and the company can’t recoup the unpaid debt, then the debt is nominated as statute-barred.
Do you want to discover whether your debt is statute-barred or not? You have to check your credit score to discover every single detail about your owed debt. In case, your credit score doesn’t reflect any debt, then it has gone statute-barred.
However, beware of scam letters, claiming that you owe money to them. Don’t pay any debt collector any money, directly. Contact the nearest debt advisor or financial advice organization, and then take a suitable step.
Legal Powers that Capital Resolve Possesses
If you discover that the claimed debt in the Capital Resolve letter is valid, then it’s important to know what their powers and limitations are. They might apply tactics to pressurize you and pay the money you owe them. Here are some of their strategies:
- The officials might contact you over call and it can continue for reasonable times. Moreover, you can get calls from Capital Resolve in the early morning or late at night.
- The debt collectors might disclose your debts and associated matters in front of your family members or a housemate. And, it can take place without your permission.
- Additionally, they might threaten you with Capital Resolve letters that resemble court papers.
- Capital Resolve might charge you with additional fees.
- They can financially harass you by forcing you to take another debt to clear off the outstanding one.
Is Ignoring Capital Resolve Letters a Good Idea?
You shouldn’t overlook their claims if they are legitimate. And, doing nothing about the outstanding debt is not a wise option, too. You should inform the company what you’re doing to repay the debt.
On the other hand, you can avail the help of a reputed financial company to deal with the debt collectors on your behalf. In addition to this, you should answer their calls and respond to their letters. Or else, they can take legal actions against you.
Actions Taken by Capital Resolve
Capital Resolve uses systematic computer systems to track their debtors and how much the debt amounts are. They generally keep those debtors who owe a significant amount and are on top of their list.
However, debt collectors aren’t the bailiffs and the government has cut off their powers to some extent. Well, Capital Resolve can take further actions when it comes to debt collection:
- You can expect debt collecting agents at your doorstep from Capital Resolve. However, they don’t pose any power to seize your assets. You should not allow them to enter your home.
- They can deduct money from your connected accounts.
- If you delay in paying off the debt or don’t take any positive action, they can add extra interest and penalty charges to what you owe.
- On the other hand, they might threaten you with the warning of bankruptcy.
- Finally, they can issue a county court judgement, in case you don’t pay the debt in full, within the provided deadline.
Therefore, you should be sincere about addressing such debts and avail legal financial support from an experienced advisor. But, you need not take these Capital Resolve letters personally. Countless citizens of the United Kingdom have to face the same scenario. So, there’s nothing embarrassing if you control your finances, along with the right advice and financial setup.
Rights you Possess against Capital Resolve
You need not necessarily bear with every policy that Capital Resolve applies to you. You do have some sets of rights against such debt collectors. Here are they through which you can keep your and your family’s interest intact.
- Capital Resolve can call you for reasonable times or send multiple letters. However, they can’t harass you at any cost. You can ask them to contact you via letters only, instead of calls.
- But, you have to regularly respond to the letters. And, you can’t blame them for the failure to pay off the debt. This doesn’t count as a defence.
- They don’t have a right to talk to your family members or colleagues about your debt-related circumstances.
- Capital Resolve letters shouldn’t reflect the powers that they don’t actually have.
- The officials are not supposed to tell lies or pretend anything just to recoup the debt from you.
So, What to do When Capital Resolve Contacts you?
You shouldn’t pay them without checking how much you owe and whether the statements are true. If you’re receiving Capital Resolve letters, then get in touch with a finance expert near you. The professional would suggest the right way to get rid of the debt. However, you can’t just escape the debt, and you have to make the repayments to the debt.
If you are in a vulnerable financial condition, then Debt Management Plan, IVA, Debt Arrangement Scheme or Trust Deed can help you. Just don’t neglect those letters or calls, or else, severe consequences might await you.