Ultimate Guide to FSB Debt Recovery

Being informed that you have a debt is a scary matter, although being told by a company you haven’t heard of can be even worse.

You might not believe the debt is yours and having a third-party company hassling you to pay them can be infuriating.

If you feel like you are drowning in debt, continue reading this ultimate guide so that you know exactly what to do and how to respond.

Did You Know You Can Write Off Up To 85% Of Your Debts?

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Table of Content

1 Who is FSB Debt Recovery?
2 How does it all start?
- 2.1 Do I need to keep my letter?
3 Step one
4 What legal powers and rules does FSB have?
5 I need to pay, what options do I have?
6 How to get in touch
- 6.1 Debt Charities to turn to:
7 List of Debt Collection Agencies UK

Who is FSB Debt Recovery?

FSB Debt Recovery is a membership group that aspires to help businesses, especially smaller ones.

They aim to help small businesses mainly to give them a helping hand while they attempt to make them better and change up government regulations.

The help FSB gives is favors such as chasing debts for businesses. If you have had a letter from FSB, chances are that you owe a debt to one of FSB’s clients.

How does it all start?

To begin with, you will be informed via letter that you owe a debt. The letter FSB will send can be slightly intimidating as they will try to recover the money and include information such as stating that if the customer/ business does not pay, they will take things further into court.

Before they take things to court, they will need to send a ‘letter before action’.

FSB has proven its letters to be effective as they are set to frighten people to pay.

Do I need to keep my letter?

Don’t bin your letters!

Binning your letters could be crucial because if anything FSB did became something you wanted to complain about, you would need your proof.

Your letters are your proof!

It is likely that if you don’t believe the debt belongs to you, you will get rid of the letter. Before you persuade yourself the letter is not yours, there are a few steps you should go through!

Keep on reading to know exactly what to do!

Step one

The first step you should definitely look into is asking for proof.

Before you convince yourself to chuck away your letter, you should get in touch with FSB and request proof of debt.

This proof of debt will clearly present to you what the debt is for and if it definitely is your debt. This is when it will begin to feel serious- which in fact, it is.

If FSB does not send you a letter of proof that is signed and official, you will not have to pay at all!

What legal powers and rules does FSB have?

Legally can not make you pay without proof.
They can take you to court if you continuously refuse to pay
If they take you to court and they win, they can employ bailiffs to come to your house to demand the payment or remove your goods.
FSB can not turn up to your home and pretend to be bailiffs
They can not use legal jargon to confuse and manipulate you.
Cannot harass you with calls
Cannot use pressuring tactics

If you believe that FSB has betrayed any of these rules, you can report and complain to FSB Debt Recovery. If nothing comes from this, you can complain to the Financial Ombudsman.

You could gain compensation!

I need to pay, what options do I have?

Getting in touch with FSB is the ideal start to find out what options you have to pay your debt.

Here are some options that could be used to repay.

Repayment Plans
IVA’s
Debt Relief Orders
Bankruptcy

How to get in touch

Check out some of FSB’s contact details and get in touch with them as soon as possible to sort out your debt.

Adress Sir Frank Whittle Bay, Blackpool, FY4 2FE
Phone 01908082376
Email [email protected]

If you believe that you need more help with paying your debt, getting in touch with a debt charity is a great option to reduce some heavy weighing anxiety off your shoulders.

Debt Charities to turn to:

Step Change
National Debtline
Business Debtline
Citizens Advice Bureau
Debt Support Trust Management
The Debt Advice Foundation
Christians Against Poverty

List of Debt Collection Agencies UK

Here is a list of all the debt collectors in the UK.