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Debt Recovery Plus is a debt collection agency in the UK that is known for pursuing individuals who owe money. For those who are facing collection attempts from Debt Recovery Plus, it can be a stressful and overwhelming experience.
Understanding your rights and the tactics that debt collectors may use can help you navigate the situation with more confidence. In this guide, we’ll explore some tips and strategies for dealing with Debt Recovery Plus, and where you can get support to deal with your unaffordable debt.
Who is Debt Recovery Plus?
Debt Recovery Plus is a debt collection agency based in the UK that specialises in collecting unpaid parking fines, as well as other types of debt.
The company was founded in 2009 and has since grown to become one of the leading debt collection agencies in the country. Marston Holdings owns Debt Recovery Plus, and also operates its own well-known enforcement agency in the UK, Marston Recovery.
DRP’s primary focus is recovering outstanding debts on behalf of its clients, which include local authorities, private parking companies, and other private businesses.
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Are they a regulated debt collection company?
Yes, Debt Recovery Plus is a regulated debt collection company in the UK. The company is authorised and regulated by the Financial Conduct Authority (FCA), which is the regulatory body that oversees debt collection agencies in the country.
As a regulated company, Debt Recovery Plus is required to adhere to strict guidelines and standards set by the FCA to ensure that it operates ethically and fairly when collecting debts from individuals.
According to the company website, DRP is regularly audited to ensure that it complies with these regulations and that its practices are transparent and lawful.
Where is Debt Recovery Plus based?
According to their website, the UK head office of Debt Recovery Plus is in London. Their main address is as follows:
Debt Recovery Plus,
78 York St,
London,
W1H 1DP
What kind of debts do Debt Recovery Plus collect?
Collecting unpaid parking fines
Debt Recovery Plus mainly focuses on collecting unpaid parking charge notices (PCNs) issued by private parking companies and local authorities.
They work closely with their clients to recover money from individuals who have not paid their parking fines, and use a variety of strategies and tactics to encourage individuals to pay their debts. These include sending letters, making phone calls, and taking legal action if necessary.
The company also collects other types of debts, including unpaid rent, service charges, and other fines.
What to do if you owe money to Debt Recovery Plus
If you owe money to Debt Recovery Plus, it’s important to take action as soon as possible to avoid any further consequences.
Contact Debt Recovery Plus
The first step is to contact Debt Recovery Plus and ask for details of the debt that you owe, whether that’s a parking charge notice or another type of debt. You have every right to request that information and by law a debt collector like DRP has to provide it to you.
You can request this information by phone, email or letter, using the contact details provided in the debt letter you have been sent by DRP.
Offer to repay your parking fine or other debts in full
If you can afford it, offering to repay the debt in full is usually the best course of action to prevent the debt from escalating further. Debt Recovery Plus will usually accept full payment and close the case, leaving you free to get on with your life.
Arrange a repayment plan with DRP Debt Recovery
If you cannot afford to pay the debt in full, you can contact Debt Recovery Plus and propose a repayment plan. They may be willing to agree to a plan that allows you to repay the debt in installments over a period of time.
It’s important to be realistic and honest about what you can afford to repay, and to ensure that you stick to the repayment plan once it has been agreed.
In terms of how you pay, you can arrange to make a regular payment from your preferred bank account at the same time each month.
What happens if I ignore debts to debt collection companies?
Ignoring debts to debt collection companies can lead to a range of negative consequences.
Debt collection agencies like Debt Recovery Plus have various tactics at their disposal to recover the money owed, and if they are unable to make contact with you, they may escalate their efforts.
Visits from debt collectors
If you ignore debts to debt collection companies like Debt Recovery Plus, you may receive visits from DRP debt collectors.
Debt collectors will use these visits to attempt to persuade you to pay the debt, and often use the threat of legal action to encourage you to do so.
Damage to your credit file
Ignoring debt can also lead to serious damage to your credit file. Debt collection companies can report the debt to credit reference agencies whose job it is to monitor your financial behaviour.
Having a defaulted debt on your record will lower your credit score, which means it will be harder to be accepted for things like loans and mortgages. Even if you are accepted, you will likely be forced to pay more in interest rates and other charges.
Court action
If you continue to ignore the debt, Debt Recovery Plus may take legal action against you to recover the money owed.
This can result in a County Court Judgment (CCJ) being issued against you, which can have serious implications for your creditworthiness and ability to obtain credit in the future. The court can also order enforcement action against you, such as seizing your assets or deducting money from your wages.
It’s important to take any debt seriously and to engage with debt collection companies like Debt Recovery Plus in order to avoid court action.
Do you have debt with Debt Recovery Plus?
How much debt do you have?
£10,000+
£6,000 - £10,000
£2,000 - £6,000
£0 - £2,000
What should I do if I can’t afford to repay my debts?
If you can’t afford to repay DRP Debt Recovery, you still have options available to you. The key is to take action as soon as possible to prevent the situation from escalating further.
Seek debt advice immediately
If you can’t afford to repay your debts, it’s important to seek debt advice immediately.
There are a number of free and impartial debt advice services available in the UK, including StepChange, Citizens Advice, and the National Debtline, that can help you understand your options and work out a plan to get back on track.
Consider using a formal debt solution
Depending on your circ*mstances, you may be eligible for a formal debt solution, such as an Individual Voluntary Arrangement (IVA) in England and Wales, or a Trust Deed in Scotland.
These solutions can help you to manage your debts and make affordable repayments over a set period of time, and in some cases, may even write off some of your debts.
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Where can I get help and advice if I owe money to debt collectors?
Dealing with debt collectors can be a daunting experience, especially if you are receiving intimidating letters and phone calls and you’re not sure you can afford to repay the debt owed.
As Scotland’s debt specialists, Carrington Dean offers personalised debt advice and support to individuals facing financial challenges. Our team of advisors can take you through a range of debt solutions and help you choose the one that’s right for you.
If you need reliable debt advice, or a tailored debt solution that suits your circ*mstances, don’t hesitate to reach out to the Carrington Dean team today.
