Do I have to pay IMFS Debt Collection?

Are you worried about dealing with IMFS Debt Collection? It can be a big worry when they get in touch. You might be feeling unsure about your rights or about how to handle the situation.

You’re not alone. Each month, over 12,000 people visit this site for advice on debt troubles. 

In this article, we’ll cover:

•  Who IMFS Debt Collection is, and if they are real
•  If you have to pay IMFS Debt Collection
•  How you can lower your repayments to them
•  What to do when IMFS contacts you 
•  What can happen if you don’t pay IMFS Debt Collectors

We understand how hard it can be when dealing with debt collectors; our team has been there too. That’s why we’re here to help you.

Ready to find out what you can do if you’re dealing with IMFS Debt Collection? Let’s get started!

What should you do when IMFS contacts you?

It’s natural to panic when you get a debt collector’s letter drops through the letterbox, whether you’re aware of a debt or not! That said, the onus is on IMFS to prove the debt is yours!

So, the first thing to do when you get a letter from them is to ask them to ‘prove’ the debt is yours! Make sure you send the letter by registered post and keep a copy for your own records.

Debt collectors must respect your request. Moreover, don’t accept a ‘verbal’ affirmation that the debt is yours. IMFS must send you authenticated written proof! 

If IMFS can’t prove the debt – they can’t make you pay it!

» TAKE ACTION NOW: Fill out the short debt form

Should I pay IMFS Debt Collection?

As mentioned, there are things you should do before forking out any money to IMFS Debt Collection. For example:

• Check the debt is yours by requesting a prove the debt letter
• Make sure the debt is not statute-barred (at least 6 years old). If it is, the debt is unenforceable and IMFS can’t chase you for payment

If any of the above apply, write to the debt collector and request they stop contacting you.

But always seek professional advice from one of the debt charities first!

What happens when you don’t pay IMFS Debt Collectors?

IMFS has the right to escalate things when you don’t pay them. So, after their initial threatening correspondence, they could start legal proceedings to recover the debt.

When you don’t pay IMFS, they could:

• Report you to credit bureaus which will impact your credit history
• Apply for a court judgement to be issued. A CCJ will negatively impact your credit rating making it hard to borrow money
• Apply for a lien on your wages which is known as an Attachment of Earnings Order
• Apply to the courts for a Charging Order on your property although this is quite rare

What can IMFS Debt Collection legally do?

There’s a Code of Practice that all debt collection agencies must follow when they contact you. If IMFS fails to abide by the rules and regulations set out by the Credit Services Association and the FCA, you could report them.

Moreover, their actions may get you off the hook!

That said, debt collectors can legally:

• Contact you and visit you at home
• Ask you to pay them directly
• Discuss a debt with you discreetly and politely

However, debt collectors would be acting unlawfully if they:

• Force their way into your home
• Clamp your vehicle
• Seize your possessions
• Use documents that appear to be court-issued when they’re not
• Pretend they have the same powers as Enforcement Agents (bailiffs) which is a criminal offence
• Talk to your neighbours, friends, family or employer about your alleged debt which breaches privacy laws
• Use legal jargon to deliberately confuse you
• Force you to take out more credit to pay the debt

Take the first step towards tackling your debt

Every day, our partner, The Debt Advice Service, helps people understand their options for dealing with debt. Their debt advice is free, with no obligation to proceed.

Thrifty Family introduces you to The Debt Advice Service. We do not provide debt advice or recommend debt solutions.

Natasha

Very helpful and informative thank you

Get started

Thrifty Family does not provide debt advice or recommend debt solutions. We can introduce you to The Debt Advice Service, a trading style of Pacific Financial Solutions Limited. Their debt advice is free, and there is no obligation to proceed.

If you request an introduction, we’ll share your details with The Debt Advice Service so they can contact you.

Some debt solutions have fees and may negatively affect your credit rating. Thrifty Family is a commercial introducer and may receive a fee if you go ahead with a debt solution through The Debt Advice Service.

For free, impartial money guidance and help finding free debt advice, visit MoneyHelper.

Will IMFS Debt Collection give up chasing you?

No. The chances are IMFS Debt Collection probably won’t give up chasing you for payment. Debt collectors are persistent and will escalate things when you ignore them!

So, rather than bin a letter from IMFS, contact them in writing and insist:

• They produce authenticated proof the debt is you
• Only contact you at specific times and in chosen ways

Debt collectors must respect these requests and if they don’t, file a complaint against them. First with their head office. Second with the Financial Ombudsman Services!

Check out what one person had to deal with when contacted by IMFS:

Source: Moneysavingexpert

How do you contact IMFS Debt Collection?

I’ve listed ways you can contact IMFS Debt Collection here: