Credit G Ltd – A Guide To Handling Credit G’s Demands For Debt Repayment
Established in 1998, Credit G Limited is a credit management company which provides debt collection services throughout the UK to both public and private sector clients. Credit G is also a debt purchaser.
Credit G specialises in collecting debt on behalf of housing associations, local authorities, utility companies and finance providers.
Credit G is a member of the Credit Services Association (CSA).
Why Have I Been Contacted By Credit G?
Credit G Limited is a debt recovery company and debt purchaser so, if you’ve been sent a letter, it is probably because you have (or have had) an outstanding overdue balance with one of Credit G’s clients.
How Will I Know If Credit G Have Purchased My Debt?
When a creditor sells your debt, they should write to you to let you know that this has happened. You will also receive a letter from Credit G explaining who they purchased the debt from and explaining that they now own your debt.
What Is A Debt Purchaser?
Credit G is a debt purchaser, which means they buy bad debts from creditors and take on the job of recovering what’s owed. Credit G buys debts at a discount, then seeks to recover the full amount owed from the debtor, thus making a profit.
Most businesses are not experts in debt recovery, so having to invest large amounts of time or money in chasing people for unpaid accounts hinders their day-to-day operations. It is therefore beneficial to offload this responsibility to someone else, while also recouping some of the money owed.
Does Debt Purchase Affect My Rights?
No – the only difference if your debt has been sold, is who you pay. If Credit G have purchased your account, you owe them the money now, rather than the original creditor.
What Will Happen If I Don’t Pay?
If you don’t pay your debt, your creditor may take court action against you in order to recover the money you owe. This allows the creditor to use enforcement action to make you pay. This can mean:
- An attachment of earnings to take the money directly from your wages or benefits
- Freezing your bank account and taking the money you owe from your available funds
- Bailiffs taking control of goods to be sold to raise the money owed
What Should I Do If I Can’t Afford To Pay?
When you are contacted by Credit G, you should discuss your circumstances with them. If you are facing financial difficulties that make you unable to pay, let them know. You might be able to come to an arrangement with them to pay back what you can afford each month.
How Can I Prevent Credit G Action?
The best way to prevent Credit G taking further action against you is to settle your debt or come to an arrangement. You can use a budget to show them what you can afford, and make them an offer of repayment.
How Can Scottishtrustdeed.co.uk Help Me?
If your debt situation is getting out of control, scottishtrustdeed.co.uk can help. We offer a range of debt management solutions to suit your needs and work with you to make a sustainable and realistic plan. We could help with:
- Debt Management Plan – an informal agreement with your creditors to make affordable monthly repayments.
- Debt Consolidation Loan – to clear all your current debt by using the loan to pay multiple creditors. You will then pay just one single monthly repayment instead.
- Minimal Asset Process (MAP) – if you are on a low income and have few assets, you might be able to get your debt written off (Scotland only).
- Scottish Trust Deed – repay affordable amounts over a fixed period (usually 4 years) then have the rest of your debt written off.
- Debt Arrangement Scheme – helps you repay at an affordable rate (Scotland only).
- IVA – debt repayment plan for people with unmanageable levels of debt.
- Bankruptcy – bankruptcy (called sequestration in Scotland) could help clear your debts, but has serious consequences and impact on your credit file.
Could I Lose My Possessions If I Don’t Pay?
You could face bailiff action if you continually fail to make payment, and your creditor decides to take you to court. Bailiffs (or enforcement agents as they are now officially named) can take control of your goods to be sold at auction. There are rules that bailiffs must follow, though.
What Bailiffs Can’t Take
If you do reach the point where bailiffs are visiting you with a view to seizing goods, it may be reassuring to know they can’t take everything. You must be left with:
- Enough beds and bedding for yourself and everyone you live with
- Washing machine
- Heating and lighting equipment
- A cooker or microwave
- Dining table and seats for everyone living in the household
- One mobile phone or landline
- Medical equipment
- Tools, books, or equipment you need for your work or study, up to a value of £1,350
- Vehicle required for your job, up to a value of £1350
- Vehicle displaying a disability badge
You will be liable to pay the costs of any court and subsequent enforcement action taken against you. Bailiff fees are regulated, so there is a limit on the amount you can be charged.
County court bailiffs can charge you:
- £75 for initial contact about your debt e.g. sending you letters (compliance stage)
- £235 for visiting your property and taking control of your goods (enforcement stage)
- £110 for removing your goods, storing and selling them (sale or disposal stage)
If your debt is over £1,500 you will pay an additional percentage fee of 7.5% on the amount of the debt over £1,500 at the enforcement and sale or disposal stages.
You may also incur costs for the use of locksmiths to enter your premises, storage, and advertising and sale/ auctioneer’s fees.
The fees and stages of enforcement differ for High Court enforcement.
Making A Complaint About Credit G
If you are unhappy with Credit G, you can make a complaint in writing and send it to:
Complaints Manager, PO Box 3158, South Croydon, Surrey, CR2 6WY
Or email [email protected]
If you are unsatisfied with Credit G’s response, you can refer the matter to the Credit Services Association:
Credit Services Association, 2 Esh Plaza, Sir Bobby Robson Way, Great Park, Newcastle Upon Tyne, NE13 9BA
Can Credit G take me to court?
If you owe money to Credit G and you do not pay, you can be sued. If Credit G sues you and wins, the court will enter a judgment (also called an order) against you that says you must pay back the debt. But if all your money and property are protected, then creditors cannot take them from you. Get free advice here.
Legally write off up to 85% of debt
Unaffordable debt can be legally written off by using the LEGISLATED Scottish Trust Deed or IVA program (If you reside in England). This can also protect your assets, such as your house or car from repossession. See if you qualify by using our free debt calculator here.
How can I stop debt letters from Credit G?
Write to Credit G to Request them to Stop Contacting You (If That's What You Want) Under the FCA guidelines, if you request that a debt collector stop contacting you completely, it must do so (with a few exceptions). Your request must be in writing. You can use our 'prove the debt letter' to do this. Download it for free here.
Can Credit G come into my house?
Without a court order, absolutely not. Neither Credit G or any other debt collection agency nor a debt collector is considered a court-appointed bailiff. Credit G may visit the address of a debtor but cannot enter the dwelling without the consent of the resident.
Services Offered By Credit G: Consumer Debt Collection, Debt Purchase, Small & Ad Hoc Debts Collected, Tracing, Utility Debt Collection, Consumer Regulated Debt, Consumer Non-regulated Debt