Easily Stop Harassment from Portfolio Debt Recovery UK
You might be contacted by Portfolio Debt Recovery UK debt collectors if you have not made any payments towards your past-due loan. When the company reaches you, you must not provide any of your personal information until you have verified that the collections agency and the debt they are collecting from you are both valid.
The verification process might be challenging since you have to request a debt validation letter from the company. Sometimes your debt might have expired, which renders the debt collection company unable to collect the debt from you, but you do not know about it.
You don't have to worry since DoNotPay can help you figure out whether the Portfolio Debt Recovery is compliant with Financial Conduct Authority (FCA) guidelines.
Who Are Portfolio Debt Recovery UK Debt Collectors and Why Are They Calling You
Portfolio Debt Recovery may call you for the following reasons:
- If you owe money
- If they want to locate a family or a friend. Sometimes the company might call you when trying to track down someone they believe you know. Since it is illegal, the company will not reveal whether that person owes a debt.
- To inform you that your debt has been sold to them for collection. You should not provide any personal information unless they provide a validation letter.
Is Portfolio Debt Recovery UK Debt Collectors a Scam?
No, Portfolio Debt Recovery is a legitimate company that was formed in 1996. The debt collection company fully complies with the rules and regulations that govern the industry. According to Better Business Bureau (BBB), the company has a rating of A+, which is the highest rating issued. However, there are approximately 11000 complaints filed against the company for multiple violations of consumer rights.
The company specializes in purchasing past-due debts from different businesses as well as an institution such as:
- Student's loans
- Credit card companies
- Medical bills
- Utility bills
What Happens if You Don't Pay Your Debt to Portfolio Debt Recovery UK Debt Collectors
If you fail to pay your debt after being served with a debt validation letter, Portfolio might file a lawsuit against you. Debt collection lawsuits are very serious, hence a reason for you to pay your debt in time.
If the company wins the lawsuit, they have several options to collect the debt in question. They might decide to garnish your earnings to repay the debt. A garnishment, in this case, refers to a court order that authorizes the debt collection to deduct money directly from your earnings.
You should keep in mind that the interest on your debt continues to pile up, meaning the amount you allegedly owe will keep increasing. It is advisable to negotiate to pay your debt for a much lower amount than failing to pay.
The following are instances when you should not pay the Portfolio collection agency:
- If you neither have income nor property
- If you do not owe the debt. You should not pay the debt if you truly know the debt is truly not yours. If the company continues to hound you for a debt you don't owe, you should send them a debt validation letter to make them stop harassing you.
- If the statute of limitation has expired, Portfolio has no right to ask for debt repayment. Additionally, the company cannot legally sue you in court, and thus, you should not give them a chance to pursue you.
- If the Portfolio recovery agency cannot show the actual owner of the debt, you are not obliged to pay them.
Has Portfolio Debt Recovery Violated My Rights?
The FCA has set rules that protect debtors like you from debt collection companies. Debt collectors are prohibited from:
- Contacting you several times a day
- Pursuing you on social media platforms like Twitter or Facebook
- Pressuring you to sell your property to repay your debt
- Embarrassing you in public
- Speaking with someone else about your debt such as family members or friends
- Threatening to sue you in court
- Calling you outside of the allowed hours which is from 8 am to 5 pm
What Can You Do if Portfolio Debt Recovery UK Debt Collectors Are Constantly Harassing You
If a Portfolio debt Collection Company contacts you, you should request a validation letter to them to verify the debt is legally yours. If the debt is yours, you have room to negotiate for a reduced amount or pay small installments until you settle the debt.
If they cannot prove the debt, you should demand they remove the negative information from your credit card report. As it is, the process is a long one that consumes much of your time. You can do it in a time-saving and less frustrating way by engaging the DoNotPay Debt Help product.
Deal With Portfolio Debt Recovery UK Debt Collectors Are Constantly Harassing You Using DoNotPay
Dealing with Portfolio Debt Recovery UK debt collectors can be exhausting. You can go the easier route and simply have DoNotPay negotiate on your behalf.
Just follow these simple steps to get started:
- Search “debt collection” on DoNotPay.
- Answer a series of questions about the debt collectors, including when you were contacted and how you were contacted, so we can determine if they have violated any debt collection laws.
- Decide which course of action you want to take based on our guidance, such as filing a debt verification request, demanding for the collectors to stop contacting you, or reporting them to a professional trade association.
Find What Else DoNotPay Can Help You Solve
DoNotPay is not limited to just handling Portfolio Debt Recovery. We can ensure you are not being harassed by other debt collection agencies such as:
- Moorcroft Debt Recovery
- DWP Debt Management
- Advantis Debt Collection
- Marston Group Holdings
- Lowell Financial
We can also check if you are possibly entitled to a refund for a debt that you paid:
Aside from providing users with debt relief, this AI-powered lawyer can also assist with other legal concerns you may have such as:
- Improving low credit limit
- Finding unclaimed money
- An unwanted charge after the free trial period has expired
- Getting rid of unwanted subscriptions
- Having a terrible experience with a company
Check out DoNotPay right now and find convenient ways of getting things done using a single app.