What is Debit Finance PLC IP on Bank Statement? Debt Scam?

Today’s post is a little different, as the company I want to talk about isn’t primarily a debt collection agency, although they do offer this service. I’m going to be covering Debit Finance PLC. And more importantly, why they are taking money out of your bank account or chasing you to collect a debt.

Do you have to pay Debit Finance PLC?

You might not have to pay Debit Finance PLC.

If you genuinely can’t afford your debt repayments then looking into whether you could have your written off might be just what you need. 

If you want to find out whether you qualify for having debt written off or payments lowered then fill out the short form below.

Who Is Debit Finance PLC?

For gyms and leisure centres, Debit Finance Collections PLC provides direct debit collection services and revenue management solutions. They are not primarily a collection agency, but they will act like one if they believe that you owe them money. 

In addition to allowing new members to sign up online and offering flexible payment options, this company aims to reduce lost payments and member churn through proven processes while freeing businesses from administrative duties. 

They are a publicly traded company headquartered in Newcastle Upon Tyne, UK, and have been active since August 21, 1997. For ongoing payment issues to avoid, it is important for individuals to follow proper cancellation procedures outlined by their gym or leisure centre. There have been mixed reviews of Debit Finance Collections PLC on Trustpilot. Visit their official website for more information.

How to Contact Debit Finance PLC

If you need to get in touch with this firm, I’ve checked their website for contact information and reproduced it here for you.

• You can reach their client support team at 01908 752 079, or their member support team at 01908 752 078.
• Existing clients can submit an online enquiry by visiting their website and filling out the contact form, providing as much information as possible.
• If you have any general inquiries, you may contact them via email at [email protected]
• The registered office address is 1st Floor, Central Square South, Orchard Street, Newcastle upon Tyne, NE1 3AZ.

Can you lower your repayments?

If you’re struggling to pay back your debt, then you might qualify for a debt solution.

Some solutions lower your monthly payments while others write off a portion of your debt. 

To find out whether they could work in your situation, hit the button below.

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What Debts for Debit Finance PLC Chase?

The primary focus of Debt Finance PLC is to collect direct debits for health and fitness companies in the UK. To ensure smooth revenue management for businesses, they process recurring membership payments, provide end-to-end membership solutions, and provide flexible payment options. 

In order to simplify the businesses of their clients, they handle direct debit collections while allowing them to concentrate on their core operations. The company operates transparently, with clear pricing and no hidden fees. Individuals are advised to contact the DFC directly regarding debts and cancellations or consult their gym or leisure centre’s terms and conditions for specific inquiries. 

As you probably guessed, I summarised their stated business purpose from their website for this section. Now we need to read between the lines a little. 

The main reason that this company will chase you for a debt, is if you owe anything outstanding for your gym or fitness members. For example, your last month’s payment didn’t go through for some reason. ‘They won’t be chasing you in the same way as a normal debt collector that is trying to recover a debt on behalf of a third party, but they can still be pretty consistent.

Why Is Debit Finance PLC on Your Bank Statement?

The name Debit Finance PLC may appear on your bank statement if you are a member or subscriber to a gym, leisure facility, or other organisation that collects payments through its services. They act as a third-party collection company and process membership payments on their behalf. 

Regular membership payments may continue to be deducted from your bank account if you have not cancelled your membership correctly. When cancelling your Direct Debit, it is recommended to follow the cancellation policy of your specific facility and inform Debit Finance PLC or the facility directly. You can contact Debit Finance PLC through their provided contact information for further assistance or clarification.

Is Debit Finance PLC Trying To Scam You?

This is the million-dollar question. A quick bit of research has uncovered the fact that the company seems to work somewhat unethically at times. Here are a few examples I found that support this opinion.

• One person had a gym membership with a gym that closed down. When the gym reopened under a new name with different management, Debit Finance PLC began taking a monthly membership from the person’s bank account again, even though they had never taken out a subscription with the new gym.
• Another person explained that even though they had asked Debit Finance PLC to cancel a membership, the company continued to take the money from their bank account for a further two months, explaining that this is how long cancellation took.
• I found multiple examples where the company took the wrong amount from a bank account (too much), or took multiple payments in a single month.

So, is it a scam? Yes and no. Your gym membership is not a scam, but Debit Finance PLC is acting in a pretty shady way when collecting it from your bank account. 

How to Stop Debit Finance PLC Taking Money from Your Bank

There are three primary ways you can stop this company from taking money from your bank account. However, two of them rely on a third-party acting ethically to stop the payment from being taken. Here are your options:

1. Contact your bank and cancel the direct debit, so that the company cannot take money from your bank account anymore.
2. Ask your gym or fitness centre to cancel your membership. When they do this, they should instruct Debit Finance PLC to stop collecting your subscription. However, I did find examples where people cancelled their membership directly with the gym, and Debit Finance PLC still kept taking the subscription, sometimes for months afterwards.
3. Contact Debit Finance PLC and ask them to stop collecting the subscription. But as I already mentioned, there are reports of the company dragging their feet over this, so that they can grab an extra one or two payments.

Do You Really Need To Pay Debit Finance PLC?

As I already said. Debit Finance PLC isn’t a debt collector in the same vein as Global Debt Recovery, PRA Group or Lowell Portfolio. But if you do owe money to a gym for a subscription, the company does offer basic collection services. So you can expect them to act very much like any other debt collector in this case. They will constantly contact you, and keep harassing you, even if you move to a new address.

If you do owe money that  Debit Finance PLC is trying to collect, they do have the option of legal action to try and recover the debt, which I will explain in the next section.

Can Debit Finance PLC Take You to Court and Send Bailiffs to Your Home?

Whether  Debit Finance PLC takes you to court, will very much depend on how much they think you owe them. For small debts, such as a couple of months of gym membership, it might not be financially viable for them to do so. However, they would likely still send you a letter before claim, to try and scare you into paying.

Debit Finance PLC can’t send bailiffs to your home. Only the local court can do this. So  Debit Finance PLC would need to apply for and get a County Court Judgement (CCJ) before this happens.

“It will only get worse” 😩

It’s cliché to say, but with debt it’s true; the longer you leave it, the worse the problem gets. 

There are straightforward and effective ways to deal with debt, but you have to know your options. 

Fill out the short form to find out about the debt solutions that could reduce your monthly payments or even write off some of your debt.

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