Debt with Ralph & co? – Do not pay them directly
If your debt with Ralph & co is no longer affordable, you may be able to write them off
Have Ralph & co recently sent you a letter about debts which they allege are owed to them?You are not the only one.
In fact, there are millions of people who are struggling with debt and are being pursued by debt collectors. But even still, this can be a traumatic experience.We are here to help.
In this guide we will discuss the steps you need to take to stop Ralph & co in their tracks. By the end of this article you will know the steps you need to take to get your finances back on track and at the same time, stop debt collectors from chasing you.
But first, lets look at who Ralph & co are, why they contacted you and show you what to do next…
Who are Ralph & co?
Ralph & co are a debt collection company based in the United Kingdom. Their full company name is Aberdeen Financial Limited. They are registered with the Financial Conduct Authority (FCA) to collect debts in England, Wales, Scotland and Northern Ireland.
Ralph & co buy debts from other companies at a reduced rate and use their own debt collection staff to chase customers for the debt. They also employ field agents, who may visit your home to collect debts.
If you have been contacted by this debt collector, then it’s likely that they have contacted you to collect outstanding debts.
In this case, here is what you should do …
I have been contacted by Ralph & co, what should I do?
First of all, don’t panic. We are here to help you to get back on track.
The letter that you have received will usually request a total balance, including charges on top. This letter will be mass produced from a computer system, usually when they first buy the debt.
It is tempting just to ignore the first letter and hope the matter sorts itself out. But in truth, it never does. You should take action immediately, before fees and charges increase further.
What happens next?
If you don’t want visitors to your home, you need to act quickly to stop the debt collection process in its tracks.
Not only will they call you a lot of times, they will no doubt look to visit your home if you are not in contact with them. Of course this is concerning and some people can find this intimidating, but it can be avoided.
When you are at this point, you need to speak to an Independent Debt Advisor. There are many great advantages of this, doing it sooner rather than later will no doubt help you in the long run (and avoid any unnecessary home visits).
An Independent Debt Advisor will:
- look at the debts you currently have
- assess the assets which you own (such as houses, savings and shares)
- provide you with a reference number. With this reference number, you will get breathing space. Your creditors will not be able to chase you, visit your home or call you within this period.
If you do not act now, debt collectors and bailiffs can look at escalating the matter further. Which can include:
- home visits
- car repossession
- they can remove goods from your home to pay for the debt (with the necessary court order)
What about if I choose to ignore Ralph & co?
If a debt collector or Enforcement Agent has tried to make contact with you a number of times, the next logical step for them would be to visit your house to make contract.
If this happens, it is likely that more debt is added onto your account. This can make the situation a lot worse than it needs to be.
What do I do if Ralph & co visit my home?
It is not uncommon for debt collectors to visit your home to collect debts.
If they have, or if they have set an appointment to visit then you should follow these steps:
- remove any vehicles from the driveway to a safe place
- make sure all doors and windows are locked and shut
- do not allow them access to the property (they are not permitted to push past you)
- contact us before they arrive
What rights do Ralph & co have?
The simple answer is, not many – to start with.
As a debt collector, they have similar rights as the original creditor do.
At first they can:
- send you letters
- call you
- send you emails
- text you
- visit your home
They do not have the same rights as bailiffs. Debt collectors can not enter your property (without your permission). They can not repossess goods in your property and they can’t take your vehicles, for example. But what they can do is make an unlimited amount of visits to your property to collect the money they are owed.
Knowing Your Options
It is easy to get worked up when you are being chased by debt collectors. In fact, this is a natural response that they rely on.
But before you agree a payment plan with a debt collector, it is important to review all of your available options.
Debt Management – If you have over £2000 worth of debt you can look at a debt management plan. Debt management plans are informal agreements which can be set up by either yourself or a debt management company. The debt management company will ask your lenders to agree to receiving a lower payment and to temporarily pause interest and charges. They do not have to agree to this and these plans are not always successful.
IVA – If you have over £5000 of debt, you may be eligible for an IVA. An IVA is a formal arrangement which is set up by an IVA company and managed by an Insolvency Practitioner (IP). All of your interest and charges would be frozen. Your creditors would not be allowed to contact you anymore and you would agree an affordable monthly payment, starting at £70 per month.
Bankruptcy – If you can not afford to repay any of your debts, you can apply to make yourself bankrupt. The cost for this is £680. There would be no monthly repayments and your creditors would not be allowed to contact you after you are declared bankrupt.
Who can I go to for help?
If you are struggling to repay your debts and you are being chased by debt collectors, like Ralph & co then you should seek independent debt advice as soon as you can.
Checking your debt options has never been easier, try our debt calculator by clicking “get started for free” now.
If you have less than £2000 worth of debt and you don’t know where to turn, you may want to speak to a debt charity. It is also important to mention that if you do approach a “charity” and opt for an IVA, the fees will remain the same as using a private IVA company.
The following companies may be able to help you:
Get help with Ralph & co
If you are struggling to pay your debt with Ralph & co, seek Independent Financial Advice now.
Ralph & co Details
If you want to get in touch with Ralph & co directly, you can contact directly using the details below:
Abg Accountancy The Quadrant Centre, Limes Road, Weybridge, KT13 8DH
Via their website:
7 February 2014
Company Registration Number:
If you would like to make a complaint about Ralph & co, you can contact the Financial Ombudsman Service or speak to the CSA, which is the trade association for the Debt Collection industry.