Debt - know your rights

If you feel you can no longer manage your debt and are being pursued by creditors and debt collectors, then it's important that you know your rights.

A debt solution such as an IVA (Individual Voluntary Arrangement), or Debt Management Plan, could be a way of protecting yourself from people you owe money to whilst also sorting out your debts.

Fair and unfair practices

All creditors and debt collectors are expected to follow the Office of Fair Trading's (OFT) guidelines (Debt Collector Guidance, November 2012), otherwise they risk losing their Consumer Credit Licence. These guidelines cover a range of issues to protect you from being exploited by creditors or becoming prey to unfair practices.

Of course, knowing your rights isn't about trying to avoid paying off your debts. But you may need protection from some over-zealous creditors should your debts become too unmanageable.

Debt and your rights FAQs

Will my rights protect me from unfair creditors and debt collectors?

This can't always be guaranteed. A far better approach is to find a debt solution which satisfies both you and your creditors. That's why you should talk to a Help with Debt Consolidation's partner as soon as possible.

What if I want to use a third party for my debts, such as an IVA or Debt Management provider?

It is unfair for a creditor or debt collector to refuse to deal with your nominated provider, as long as it is a reliable provider.

For more information regarding your rights, call us now on 0808 163 9579 to speak to an advisor or complete the form below.

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Call us on our freephone number 0808 163 9579

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