Do I Pay or Ignore Insurance Collections Bureau Debt?

If you’ve had a letter from the Insurance Collections Bureau, you might feel worried. You may have questions and concerns about how to deal with debt collectors.

Remember, you are not alone. More than 12,000 people visit this website each month looking for guidance on money matters.

In this easy-to-understand guide, we’ll cover:

•  Who the Insurance Collections Bureau is, and why they might contact you
•  How to know if the debt is really yours
•  What to do if the debt is yours
•  Ways to lower your repayments
•  What debt recovery agencies can and can’t do

We know that dealing with debt can be tough; some of us have been there too. That’s why we’re here to help.

Ready to find out more about dealing with the Insurance Collections Bureau and debt collectors? Let’s dive in!

Why Would the Insurance Collections Bureau contact you?

Chances are the Insurance Collections Bureau has contacted you over something you owe another company. So, although you don’t recognise the name on the letterhead, the amount is owed to another creditor!

Do you have an outstanding invoice to an insurance provider? An insurance broker, or may a Credit Hire company? If so, ICB debt collectors may have been asked to recover what you owe!

How should you respond to debt collection agencies?

The first thing you should do is check if the letter is genuine because there are lots of scammers out there. Once you’ve established the letter is from ICB Debt Collectors, the next step is to find out how old it is.

For example, is it too old to enforce? If so, you may not have to fork out anything but some conditions apply to statute-barred debts.

Next, is it really yours or is the debt recovery agency chasing the wrong person?

You should always respond to a debt recovery company even if the above applies. Why? Because even if the debt is statute-barred or it’s not yours, you still need to let ICB know!

So, write to them and inform them of the situation and at the same time, ask them to only communicate with you in writing! This way you have a record of all their communications!

Can you ignore the Insurance Collections Bureau?

No. It’s never a good idea to ignore the Insurance Collections Bureau because they are persistent. They won’t stop chasing you even if you continue to ignore them. In fact, things just get more expensive and complicated when you do.

For example, ignoring a letter and other correspondence from ICB could mean:

• They are chasing the wrong person because the debt isn’t yours, or
• The debt is far too old to enforce and therefore, statute barred (conditions apply), or
• You already paid and therefore nothing is owed

It also means you could not know that:

• Court proceedings have begun against you, and
• A County Court Judgement (CCJ) is registered on your credit file, and
• Enforcement agents (bailiffs) intend to visit you at home to seize some of your possessions

Is the debt really yours?

Debt collection agencies must prove you owe the money. As such, it’s your right to ask the Insurance Collections Bureau to prove the debt is yours.

Don’t just take their word for it. The evidence must be provided in writing in the form of a Credit Agreement or contract you signed. Plus all copies of agreements or contracts must be authenticated by the original creditor or an authorised person!

What happens if debt collection services can’t prove the debt?

When a debt collection agency can’t provide evidence the debt is yours, they can’t make you pay! Without hard evidence, a court would find it difficult to rule in ICB’s favour.

In short, you could get off paying the debt if a debt recovery company can’t provide an authenticated copy of an agreement you signed!

What if ICB Debt Collectors prove the debt is yours?

You’ll have no choice but to pay the debt recovery company if they prove things and the debt isn’t statute barred!

But before you admit, agree, or sign anything to ICB you should seek advice from a debt expert. You could contact one of the leading UK charities or an independent debt adviser.

Debt recovery companies must give you enough time to assess your situation, seek debt advice and establish which debt solution is best for you!

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What can debt recovery agencies do?

There are things that debt recovery companies can do and then there are things they can’t legally do.

For example, ICB can:

• Visit you at home, contact you by phone, email, text or letter
• Discuss things with you politely and discreetly
• Ask you to settle what’s owed to them directly

» TAKE ACTION NOW: Fill out the short debt form

Can you complain about the Insurance Collection Bureau?

Yes. It’s your right to complain about the Insurance Collection Bureau if they threaten or harass you over a debt.

This gives the debt collection company the chance to put things right. But if they don’t you can then file a complaint with the Financial Ombudsman Service.

Thanks for reading this post. I hope I’ve answered the question: do I pay or ignore Insurance Collection debt recovery or not so it saves you time and stress.

How do you contact the Insurance Collections Bureau?

As mentioned, it’s best to keep in touch with a debt recovery company even if the debt is old and not yours. Let them know what you’re doing and when you’re seeking debt advice.

I’ve listed how to contact Insurance Collections Bureau below: