The Ultimate Guide to Creation Financial Services

Are you receiving calls from Creation Financial Services Debt Collectors over an unpaid debt? Do you have money owed to you but are unable to return it? Are they requesting that you repay a debt you are unaware of or believe you have already paid off? Do they threaten to take you to court over the unpaid debt? If any of these seem familiar to you, or if you’re facing other problems, keep reading to learn how to handle the situation.

Table of Content

1 Who are Creation Financial Services
- 1.1 How do I get in contact with Creation Financial Services?
2 Are they a legitimate company?
3 Why is Creation Financial Services Contacting Me?
4 What Are My Next Steps?
5 What Can Creation Financial Services Do?
- 5.1 Creation Financial Services can:
- 5.2 Creation Financial Services Cannot:
6 List of Debt Collection Agencies UK

Who are Creation Financial Services

In 1973, Creation Financial Services began as Selfridges’ financial services branch. They’ve gone through many rebranding operations over the years, and several new owners have taken over. BNP Paribas now owns Creation Financial Services.

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They offer loans and credit cards under their brand or collaborate with other organisations such as big high-street merchants, travel companies, and sports teams. They also provide premium financing for insurance premiums. The Financial Conduct Authority authorised and regulated them.

They manage debt collection when a customer fails to make due repayments because they manage loans, credit cards, and insurance premium finance on behalf of other brands. This means that if a customer purchases anything from a High Street business using credit to finance the purchase, Creation Financial Services, rather than the High Street retailer, will likely pursue them for repayment.

How do I get in contact with Creation Financial Services?

Company Address: 4th – 6th floor Wellington Buildings, 2-4 Wellington Street, Belfast, BT1 6HT
Phone: 0800 783 5881
Email: [email protected]
Website: https://www.creation.co.uk

Are they a legitimate company?

Creation Financial Services is a legit company with registered under the company registration number 01091883. The other company names for Creation Financial Services are:

Creation Financial Services Limited
Creation Financial Services Ltd
Creation Financial Services Group
Creation Financial Services Bailiffs
Creation Financial Services Debt Collectors
Creation Financial Services Debt Collection
Creation Financial Services Agency

Why is Creation Financial Services Contacting Me?

The debt collection and financial services industry is massive; thousands of debt collection firms and financial systems profit from your debt. Debt collectors, such as Creation Financial Services Debt Collectors, come in various shapes and sizes. There are independent businesses, businesses that are part of the original credit corporation to which you owe money, and even businesses that operate as sole traders. It’s critical to be aware of debt collectors’ techniques and the various disguises they use.

Independent debt collection companies and sole trader debt collection enterprises follow the same model: they buy debt for a portion of its face value, typically as little as 20%, and then collect all or part of the amount for a profit. In other words, the more debt you owe, the better off these debt collectors will be. They profit from your anguish, and they don’t give a damn about your circumstances. In their minds, you incurred the debt and owed it. Thus you must repay it. They aren’t interested in hearing your justifications.

What Are My Next Steps?

Knowledge is essential if you want to be able to defend yourself from debt collectors. These are some things to be aware of when dealing with debt collectors.

Check to see if the debt is yours

Are you sure you owe this money? If you are doubtful about the origins of the debt or the overall amount owed, you should obtain confirmation. Due to interest and charges, the overall cost will almost certainly be far higher than the debt’s original worth. Before you pay it, be sure you have all of the details.

To obtain confirmation, contact Creation Financial Services Debt Collectors and ask for a copy of the original credit agreement. You won’t have to pay the debt if they say they can’t or won’t deliver it for you. They should be able to do so without difficulty.

Determine whether or not you should pay the debt

If you’ve received confirmation that you owe the debt, your best option is to pay it off as soon as you can. However, you should not pay if it will leave you unable to pay your rent/mortgage or other essential payments. Only pay if you can. Otherwise, you might be able to work out a payment plan with Creation Financial Services Debt Collectors to pay off your debt in instalments or make a partial payment.

Learn about their legal responsibilities

For the debt collection industry, the Office for Fair Trading (OFT, 2012) established a set of criteria. They put these in place to protect consumers and ensure that debt collectors didn’t use unethical methods to recover their money. These are some of the guidelines:

Ensure that debtors are treated correctly and that no abusive, harassing, or other tactics are used to collect debt repayments.
Provide clear and transparent information that is both transparent and easy to grasp for the borrower.
Show empathy for debtors and the challenges they are through.
When deciding what course of action to follow, consider the debtor’s situation.

You can report Creation Financial Services Debt Collectors to the OFT if you believe they are intimidating or harassing you or if they are simply not following these criteria. They may lose their license as a result.

Some debt collectors may even claim to be from an outside agency when they are employees of the company you have an outstanding debt. This is deception, and you should not tolerate it. If the debt collectors are lying about the issue, you should seek guidance and assistance.

They might make use of technology to handle phone calls

Although it may be tempting to ignore calls from Creation Financial Services debt collectors, doing so will not help you because they will continue to try in the hopes of finally finding you. Many firms will even use automated phone technologies to contact you regularly.

Their goal is to irritate you to the point where you answer the phone and, hopefully, pay your bill. If they do use this strategy, make a note of how frequently the calls occur. If you believe this is excessive, you should advise the agent that you intend to report them to the Financial Ombudsman.

A shift in attitude

Another strategy that is frequently employed and can be effective in changing one’s mindset. When you tell you can’t pay up, the agent will be polite and upbeat at first, but they will quickly change their attitude when you say you can’t.

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This shift in attitude can be much more upsetting than the agent simply having a bad attitude from the start because you’ll know what to anticipate. The goal is to push you to a point where you’re exhausted and willing to pay them to have some peace. This is not a good way for them to behave, and they have a legal obligation to treat you fairly.

If this happens to you, you have the right to file a complaint.

They may even discuss your debt with someone else

If you don’t answer the phone, but someone else does, the agents may try to shame you by telling the other person about your debt and financial issues, regardless of who they are. Your partner, a family member, or even someone from your workplace may pick up your phone.

These are illegal, and you have the right to report them because they are not allowed to do so. You can contact the Financial Ombudsman on 0800 023 4567 or 0300 123 9123 to report this type of behaviour.

Getting out of debt

Signing up for an Individual Voluntary Arrangement (IVA) allows you to eliminate your debt. If you can’t afford to pay it all off at once, this official arrangement will enable you to pay the debt collectors a particular sum that is feasible, either in full or in monthly instalments. Within five years, the remaining of your loan would typically be written off. An insolvency practitioner should oversee the IVA process.

A Debt Relief Order (DRO) is another option to examine. However, this has some limitations, as you must have £50 or less leftover each month after paying your bills. You can’t be a homeowner or own anything worth more than £1000.

What Can Creation Financial Services Do?

Creation Financial Services can:

Debt collectors may show up at your door if you do not answer them. They could also file a County Court Judgement, which will appear on your credit record if it is successful.
Creation Financial Services may sue you for the debt, but you will not be imprisoned. If they take you to court, you will receive a letter from the County Court Judgement.
If you continue to ignore the debt collectors and the CCJ, bailiffs may be summoned to your home and may take some of your belongings to satisfy the debt.

Creation Financial Services Cannot:

Creation Financial Services has no legal authority to seek an arrest warrant or attempt to imprison you.
Creation Financial Services may send a representative to your home to collect the debt, but they lack the legal authority to do so.

List of Debt Collection Agencies UK

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