Have you been contacted by Arrow Global?
Are you wondering why they’re calling you?
Receiving surprise calls or letters from debt collectors can be frightening and stressful. If you’ve never dealt with them before, you may be wondering what the best course of action is.
In this guide, we’ll explain who Arrow Global is, where they operate, and what they do. Once you’ve read through this guide, you’ll have all the information you need to successfully deal with any debt collectors.
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If you’ve been wondering how debt collectors work, then you’re reading the right article. From what will happen if you can’t afford to pay, to seeking debt advice from an expert, everything you need to know about debt management is in this guide.
Table of Content
- 1 Who are Arrow global debt collectors?
- 2 Don’t Pay Arrow Global Until You Get Advice
- 3 Are they a legitimate company authorised and regulated in the UK?
- 4 What legal powers do they have over me?
- 5 Why is a third party contacting me about debt collection?
- 6 How do I contact Arrow global limited?
- 7 How do debt collection agencies operate?
- 8 Why is a debt collection agency contacting you?
- 9 What if I cant afford to pay back a debt?
- 10 Can pay but won’t pay?
- 11 How to deal with debt collectors:
- 12 List of Debt Collection Agencies UK
Who are Arrow global debt collectors?
Arrow Global provides credit management services. They are a leading company and one of the largest in the UK, purchasing debts and providing solutions to credit management issues.
Founded in 2005, Arrow Global now has 35 million customers across the globe. They are a loan specialist, however, they also work with banks, credit card providers, and telecommunications companies.
They essentially buy debt from creditors and then aim to collect that money from the debtor, ie you. They are regulated by the financial conduct authority (FCA) and work in a few different markets across Europe. These include Ireland, Italy, and The Netherlands.
Where are they based?
The Arrow Global headquarters are based at Belvedere, 12 Booth Street, Manchester UK. As we mentioned earlier, although they are based in the UK they have customers in 5 countries.
Don’t Pay Arrow Global Until You Get Advice
It’s important to get advice from a professional debt advisor before you think about paying Arrow Global debt collectors. Watch the video below to see what kind of help you can get to take control of you debts.
Arrow Global Limited is registered in England and authorised and regulated by the financial conduct authority. It’s safe to say that they are a legitimate and regulated UK company.
However, it’s important to do your own research on them to make sure you’re satisfied. Always make sure that you do owe them money, errors can be made so ensure you’re not paying them unnecessarily.
What legal powers do they have over me?
It’s important to remember that debt collectors like Arrow Global don’t have any more legal power over you than the original creditor. Arrow Global will usually contact you in writing and by phone. They may also send texts and emails.
Being contacted by debt collection agencies can be intimidating. They may threaten to take you to court or that someone will come to your house.
Although Arrow Global can send someone to your home, you don’t have to let them in. If a debt collection agent does arrive at your house they must always show proof of ID.
It’s important to remember that they’re not bailiffs either and if you ask them to leave they must comply. They also can’t take any possessions from your home.
They’re not allowed to misinform you of their legal rights over you or to harrass you with lots of texts or phone calls. They can, however, take you to court if you don’t pay.
However, this isn’t likely to happen if Arrow Global knows you’re getting help with paying your debts and that you’re willing to pay as much as you can.
Why is a third party contacting me about debt collection?
If you’re being contacted by a company, like Arrow Global, that you’ve never heard of, you may be under the impression that the debt isn’t yours. However, the company that’s contacting you may not be the one you had the debt with in the first place.
You may be wondering where they got your contact information from. They could’ve got your phone number or other contact details from the original creditor or your credit history.
If the third-party company got your information from the original creditor, they’ll have access to information such as where you live, how much you owe, and the company to who you owe money.
Unfortunately, scam debt collectors do exist, so it’s super important to make sure you’re dealing with a legitimate company. A legally operating company, such as Arrow Global, will be regulated by the financial conduct authority, so check with the FCA to see if the company is licensed.
When it comes to debt collectors, you have rights that they have to abide by:
Strict contact times
You can only be contacted by debt collectors between 8 am and 9 pm, but not while you’re at work. If you are getting phone calls earlier or later, you’re probably dealing with a fake company.
Request a callback
A legitimate debt collection agency will have no problem giving you company information such as a callback number. Write down as much information about the company as you can, including the name and address if possible. This will help you to see if they’re a legitimate company.
They can’t harrass you
A legally operating company will not inundate you with calls and letters. It’s also illegal for them to call you at your place of work, or to contact others such as family, friends, or your employer.
By law, you are protected from debt collectors making overly frequent demands for payments that are meant to cause distress or embarrassment to you.
They’re also not allowed to give you incorrect information, such as telling you your property and possessions will be taken or giving you the impression they have special legal powers over you.
Remember, you have rights, and actions such as calling you excessively or outside acceptable hours is considered a criminal offence. This is a surefire sign that you’re not dealing with a legally operating company.
How do I contact Arrow global limited?
If Arrow Global Limited has contacted you, you can send them a letter to their postal address. Or, if your enquiry is a little more urgent you can give them a call.
Their lines are open from 8:30 am-5 pm, Monday to Friday. Keep in mind that they are closed on weekends and bank holidays though.
Making a complaint
If you’re contacting Arrow Global debt collectors to make a complaint, they have a separate postal address and phone number for you to use. Both of these can be found on their website, so be sure to check it out to make sure you’re contacting the right department.
When you make your complaint, make sure you set out the sequence of events as they happened, starting with the time and date of when the issue started. Enclose any copies of relevant correspondence and information that could help speed up the complaint process.
If your complaint can’t be resolved within three working days of receiving it, Arrow Global Group will send you a letter acknowledging that they’ve received your complaint, and a full investigation will happen.
Arrow Global Limited will investigate your complaint thoroughly and in an unbiased manner. They may ask you to provide additional document copies and other information to assist them with your investigation.
If it’s been more than eight weeks since you submitted your complaint and you haven’t been given a final response, or you’re not satisfied, you can contact the financial ombudsman.
How do debt collection agencies operate?
If you’ve been in arrears for a long time, or you’ve received multiple notices, you can be sure you’ll hear from debt collectors. This may sound scary but it’s a perfectly standard procedure in the debt collection process.
A debt collection agency is a company that specialises in retrieving a debt that the original creditor couldn’t. In the UK there are many debt collection agencies.
Some of them are small and will only collect debts of a certain amount. Others are larger agencies who work with creditors across the globe.
Debt collectors work in different ways, the two main methods of operation are:
The original creditor will sell your debt to the agency. This is usually if you’re not paying enough to them. They sell the debt at a smaller amount to the agency so they receive a lump sum. The debt collectors take legal ownership of your debt and make their profit by retrieving the full amount from you.
The original creditor is still the legal owner of the debt, but they contact you through a debt collection agency. In this case, the debt collectors will receive a certain percentage of the money that’s collected.
It’s quite easy to tell which method is being used by checking where you’re being asked to make payments. If you’re being asked to pay the original creditor directly, you can be pretty sure that they still own the debt.
Why is a debt collection agency contacting you?
Getting calls or letters from debt collectors is not nice. Being in debt to people you don’t know can be stressful and unnerving, especially since they seem to have all of your personal details. So why is Arrow Global contacting you?
Usually, they only call you when you are in debt. As we discussed in the previous section, debt collectors like Arrow Global buy debts from creditors and try to get the money from you.
If you do receive any calls or letters from Arrow Global, it’s vital that you respond appropriately so that your legal rights are protected.
The most important thing is to make sure you respond and don’t just ignore the issue. Ignoring it puts you at risk of receiving county court judgments or defaults. You can find more information on how to handle Arrow Global below.
What if I cant afford to pay back a debt?
Discuss it with Arrow Global
If you’re struggling to afford your debt repayments, it’s super important to be upfront with the debt collection agency. Arrow Global Limited aims to assist you in finding appropriate debt solutions so your credit score isn’t damaged.
Get the help of a debt advisor
Getting the help of a debt advisor is also a good idea if you can’t afford debt repayments. You can find more information on seeking the assistance of a debt advisor at the bottom of this article.
Talk to loved ones
Something else that may help you when you’re struggling to pay back debt, is to talk about it with your loved ones. Debt is understandably difficult to talk about, and many people go through life dealing with their debts alone.
Keeping it all to yourself makes it ten times worse. If possible, be completely honest with those close to you about your financial troubles. However, discussing the subject of debt can cause arguments in relationships, especially if the subject has never been brought up before.
While getting the advice of a financial expert will help, having that support in your day to day life can make a massive difference.
Can pay but won’t pay?
If you’re able to pay your debts, it’s strongly advised that you go ahead and pay up. That way you’ll have cleared your debts and your credit score won’t suffer too much.
Blatantly refusing to pay is never a good idea. By doing this, you put yourself at risk of receiving County Court judgments, being taken to court, and other legal actions.
If Arrow Global fails to collect the money from you, the original creditor can then take you to court. If they’re successful in court they can send in the bailiffs. This means you risk having your assets, including your home, seized.
What will happen if you don’t pay
Don’t ignore it
If Arrow Global Limited has contacted you, it’s important not to ignore it. It’s always a good idea to talk to the debt collectors even if you’re struggling to pay, so don’t panic.
If you choose not to respond at all, your debt will get worse and you risk legal action being taken against you. Ignoring the issue is also likely to hurt your credit history even more.
If you can’t afford the payments, it’s essential to tell Arrow Global Limited and explain why you don’t think you’ll be able to pay. If you have a budget to show them, this would be helpful.
Never ignore the problem as this will make your situation worse and cause even more stress. If you don’t respond at all, you risk Arrow Global sending bailiffs to your home.
Now, if the worst does happen and you end up with bailiffs at your door, don’t panic. Contrary to popular belief, even bailiffs can’t kick down your door and storm into your home. They can only enter your home if a Liability Order has been issued against you. Even so, you don’t want the situation to get to this point.
Work out a budget
Contact Arrow Global and discuss your financial circumstances. However, don’t make an agreement with them before you’re sure you can afford to pay the money back.
A budget will make sure you’re not entering into an agreement that you won’t be able to afford. It will show you and Arrow Global what you can reasonably afford so you don’t end up missing any further repayments.
Creating a budget plan will be a super useful tool for you because your income versus expenditure will be there in black and white, allowing you to create a suitable payment plan.
When you make a payment plan, remember that the cost of living is always rising. It’s likely that your debt repayments will last for months or even years, so if you’re only just able to afford it now, in a few year’s time it may be financially crippling.
How to deal with debt collectors:
If you’re dealing with Arrow Global or any other debt collectors, there are a few things you can do to stop the situation from getting out of control:
Don’t ignore it. Unfortunately, the problem won’t go away if you ignore their calls and letters. If you don’t respond, you run the risk of being issued with a County Court judgment. This usually happens if the original creditor thinks you won’t pay the money you owe.
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Ask for debt information. Find out who you actually owe money to and how much. This will help you determine if the debt is yours or not. Find out how old the debt is as well.
Confirm it in writing. Lawful debt collectors, such as Arrow Global, are obligated to write to you outlining your debt and who you owe it to.
Seek debt advisor help:
If you feel like your debts may spiral out of control, it’s a good idea to seek the assistance of a debt advisor. Their expert advice will help you deal with your problems and will give you the guidance you need.
They’ll give you advice over the phone or online and then recommend a series of effective debt solutions based on your circumstances.
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Debt advisors can talk with the creditor on your behalf and make a payment plan that’s affordable and realistic for you. They can also ask to have other charges such as interest paused so you have more time to pay the debt.
Ultimately, seeking the help of a debt advisor could assist you in getting out of a sticky situation. They’re specially trained so they’re able to offer you the best debt solutions. Rather than struggle through it on your own, it’s wise to seek professional assistance.
Check if you really owe a debt collection company money:
It’s important to find out if you have any debt you’re unaware of, so you can be prepared. One way to find out is to have a look at your credit file to see who you owe debts to and whether you have any County Court judgments. Finding out if you’re in debt will aid you in dealing with your situation so you can start paying it off.
Another thing to check is any emails and letters you’ve received. They may have information about how much you owe if you owe any at all.
If you’ve moved house and didn’t tell your creditors, try and find out if any post went to your old address by asking the new owners or the landlord. If possible, give them a forwarding address so you don’t miss any future letters.
If you remember that you do have debts to certain creditors, contacting them is the easiest way of finding out more. Although it can be intimidating, it’s the best way to find out more about your debt.
By contacting the creditor yourself, you can also explain that you want to start clearing your debt and ask them to agree to a temporary payment holiday, so you have more time to get professional financial advice.
List of Debt Collection Agencies UK
Here is a list of all the debt collectors in the UK.
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