This isn’t a full fact find, Thrifty Family doesn’t give advice. We work with The Debt Advice Service who provides information about your options.
For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.
My name’s Janine, and I’m a mum of two who’s always been passionate about trying to cut down spending costs. I am now sharing as much financial knowledge as I possibly can to help your money go that little bit further.
For free & impartial money advice you can visit MoneyHelper. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact-find, some debt solutions may not be suitable in all circumstances, ongoing fees might apply & your credit rating may be affected.
It’s stressful when debt collectors contact you, especially when it’s out of the blue. You could be one of the many people who ask questions like ‘do I have to take them seriously’ and ‘do I have to pay IMFS Debt Collection’? Once you know who they are!
I cover many questions in this post which includes how IMFS operates in the UK, and the regulations they must follow. Then I explain how to deal with the debt collectors when they contact you!
Do you have to pay IMFS Debt Collection?
You might not have to pay IMFS Debt Collection.
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.
This isn’t a full fact find, Thrifty Family doesn’t give advice. We work with The Debt Advice Service who provides information about your options.
Who is IMFS Debt Collection?
IMFS Debt Collection is just that, a debt collection business that claims to be an award-winning company! They’ve been operating in the UK since 2004 and are regulated by the Financial Conduct Authority (FCA).
IMFS stands for Improved Financial Solutions!
Their client base includes the financial and consumer sectors. So in short, IMFS could chase you for:
Credit card debt
Store card debt
Current account debt
Loan debt
Is IMFS legit?
Yes. IMFS Debt Collection is a legitimate business and is regulated by the FCA. The company’s registered office is in West Yorkshire. That said, it’s not easy to get in touch with IMFS through their website other than to pay them!
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.
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!
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
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:
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
If you’re asking the question, ‘do I have to pay IMFS Debt Collection?’, you’re not on your own. It’s the sort of question people ask when a letter from IMFS drops through their letterbox.
It could send you into panic mode, whether you know about the debt or not. Moreover, getting a letter from a company you don’t recognise is always disturbing.
Rather than bin the letter, you should contact IMFS Debt Collection and ask them to ‘prove the debt’ is yours. Next, you should establish the debt is not statute-barred because if it is, the debt isn’t enforceable!
Thanks for reading my post about debt collectors. I hope the information answers the question, ‘do I have to pay IMFS Debt Collection?’ and many more!
My name’s Janine, and I’m a mum of two who’s always been passionate about trying to cut down spending costs. I am now sharing as much financial knowledge as I possibly can to help your money go that little bit further.
How to beat IMFS debt 