With the current situation that everyone is going through, debts owed by people are increasing day by day. On the other hand, the ability of the people to repay them is declining due to the loss faced in jobs and businesses. As a result, the creditors are getting desperate to cut their losses. A common way to do that is by using debt collecting agencies.
Your creditor might give the task of collecting the debt to an agency. Sometimes, they might simply sell your debt to one of the many agencies at a low price. In this case, all the money they collect from you would belong to the new debt collecting agency.
These agencies make a lot of profit by buying debts and collecting them. So, now you have understood their motives behind hassling you for repayment. Marston Holdings is not a new name and is a renowned debt collecting agency.
Who is Marston Holdings?
Marston is a prominent name in the debt collection business in the UK. They are the biggest among all the groups, in the country, that enforce debts. They mostly provide their enforcement services for High Court judgments. Apart from that, they also collect on behalf of certain businesses. Once you are contacted by them for repayment, it would be difficult to avoid them. They won’t stop chasing your debt unless it’s paid. But, as always, there is a way out of this, as we shall see.
What will They do if you Owe Marstons Debt?
When you owe money to Marston, they will send you payment reminders at first. You might also receive calls from them. In that case, you know how stressful it can be to receive calls so many times in a day. But, this wouldn’t stop until you have repaid the debt you owe them.
How far will they go to Collect your Debt?
Since they are a legitimate company and hence bounded by regulations, Marston’s debt enforcement agents have to stay within a limit. Even though they have some special powers, it doesn’t give them the right to harass you in any way.
Other than that, they can do pretty much anything to recover the amount you owe them. If you keep ignoring them, you will get a visit from one of their enforcement agents. They might even show up at your workplace or business to request repayment. Though you don’t need to clear all of the debt at once.
What will happen if you Ignore their Reminders?
First, you are advised not to ignore the payment reminders sent by Marston. Many people have tried to avoid them, previously but ended up making the matter worse. If you keep ignoring their reminders, Marston’s debt agency will send an enforcement agent to visit your residence.
You will get a notice prior to this visit to inform you about it. The agent will request you repay the money you owe them. You can discuss your payment plan with them if you want. If you don’t want to go for such an arrangement, they can secure the debt against some of your goods. The only way to avoid this would be to get an arrangement, with affordable monthly payments.
Can Marston Agents enter a Residence Forcefully?
Generally speaking, enforcement agents can’t forcefully enter a home. Though they can use the necessary amount of force, in cases of priority debts. Other than that, they can enter your residence, only with your permission.
Moreover, they cannot visit you at a time before 6 am or after 9 pm. If they call you, that too has to be within the specified time of the day. If there is a breach in any of these rules, you can complain against them. Though you have let them enter your residence once, you can’t refuse them the next time. Otherwise, they can use a reasonable amount of force to enter.
What Goods can Marston take from my Home?
A Marston agent can make a list of goods that you have in your house. You will be asked to sign an agreement, allowing them to take some of the goods if you’re unable to pay.
They can only take the goods that are considered as luxury, such as vehicles, jewellery, etc. You need not worry about them taking away any goods that are your basic necessity. Also, they can’t take over the goods that you don’t own.
What to do if you can’t Pay the Debt?
If you’re going through a financial problem, it is understandable that you’re unable to pay. You can try explaining to the agent about your situation, and hopefully, get some additional time.
But, that’s probably the most you’ll get from them. They simply won’t stop chasing the debt. The only way to write off your debt is by paying it. You can also try to settle for a lower amount or freeze the interest rate. Consulting a debt advisor on this matter can prove to be very helpful.
Will you Face any hassles from Marston?
This is a very important factor that you must know while dealing with Marstons debt. They will try several tactics to make you pay the entire debt amount. You will get multiple calls from them in a single day. They might even state unreasonable threats of taking legal action against you.
Sometimes, they might even try to embarrass you, into paying them, by threatening to contact your workplace or family for repayment. Fortunately, most of their agents don’t use these methods as it is illegal. So, if you face any of these, you must complain against them.
What Options do you have to Write off your Debt?
Even though you might not be able to see a solution, there are actually certain options that you have. Formal agreements such as an IVA is one of them, though it is not suitable for everyone.
Yet another option you have is bankruptcy. Since it will leave a serious impact on your life, you wouldn’t want to go for it, without careful consideration. Also, there are some types of debts that even bankruptcy can’t write off. There are many reliable debt advisory centres who you can consult regarding this matter.
Do you need to include this Debt in your IVA?
To get an IVA, you must owe at least two creditors. Additionally, the total debt you owe must not be below £5000. It won’t be a viable option if you owe them less than this amount. Apart from this, there are other considerations, too.