Global Debt Recovery – Should You Pay?

Are you worried about a letter from Global Debt Recovery? You’re not alone. Every month, over 170,000 people come to us for help with debt problems. We’re here to help you too.

In this article, we’ll talk about:

• Who Global Debt Recovery is and who they work for.
• How to handle a threatening letter from them.
• If you need to pay the debt they say you owe.
• How to stop their calls, and if they can force their way into your home.
• Possible ways to lessen or write off some of the debt.
• How to stay on top of your debts and where to find free advice.

Our team knows what it’s like to feel scared about debt. Many of us have been there, which is why we want to help you understand the situation better and take control of it.

So, if you’re worried about Global Debt Recovery, keep reading. You might not have to pay them anything at all! Let’s find the best solution for you together.

Received a Global Debt Recovery Threatening Letter?

Have you found yourself holding a debt letter from Global Debt Recovery? You’re not alone. Plenty of people get these scary letters from Global Debt Recovery every year, and on most occasions, the recipients have no idea they have debt.

Of course, there could be a mistake because Global Debt Recovery sent the letter to the wrong address. But even if this is the case, you should follow my guide to put things right.

Ensure Global Debt Recovery Prove Your Debt

The first thing you need to do after receiving a Global Debt Recovery debt letter is to request proof that you owe the debt. You should make this request even if you know about the debt.

Without proof, Global Debt Recovery will struggle to get the courts to make you pay, which is why it is essential to make this request even if you know about it.

To do this right, you can use my ‘prove the debt’ letter template and add some of your details.

Sometimes you’ll need to use a prove the debt letter to find out what they’re actually trying to chase!

Some debt collection companies send out vague letters without supplying you with the required information.

Global Debt Recovery, like lots of debt collection companies, is regulated by the Financial Conduct Authority (FCA). Their rules clearly state that a debt collector has to prove that you owe the debt and can’t chase you for it until they can establish that you 100% are liable!

You Might Not Have to Pay Global Debt Recovery!

There is one event when you won’t have to pay Global Debt Recovery anything! Remember at the start of this guide when the person posting on the forum said their debt was 11 years old? Well, this debt would be too old to be collected.

If it has been 6 years – or 5 years in Scotland – since you last paid towards your unsecured debts and you have not written to your creditor about your debt during this time, it is statute-barred.

This means that the debt is not enforceable. It still technically exists, and you still technically owe the money, but there is no legal way for you to be forced to pay or for the debt to be enforced.

Keep in mind that not all debts become statute-barred!

Any HMRC debts, for example, will stay enforceable for decades. Any debt that had a County Court Judgement (CCJ) attached to it during the 5 or 6-year window it will be enforceable for the duration of the CCJ.

If you think that your debt is statute-barred, you can use my free letter template to write to Global and tell them. This won’t restart the 5 or 6-year timer on your debt.

Should I ignore a Global Debt Recovery Debt Letter?

No, you should never ignore a debt letter from Global Debt Recovery. If you ignore any of their communications – even if you think they are wrong – the debt could get bigger, and they could take you to court to force you to pay.

In every situation, it is always better to act. And that’s why I’m here to help!

Can Global Debt Recovery Force Entry into My Home?

Understanding your rights against Global Debt Recovery is essential. Perhaps the most important thing to remember is that they can’t force entry into your home.

Global Debt Recovery are a debt collection company that use administration techniques to collect money. A debt can only be enforced when you refuse to pay, and the court decides that you owe the money.

But even if this happens, Global Debt Recovery will not be allowed to come into your home. That is the job of a law enforcement officer – not debt collection agencies!

Soon I will reveal ways to prevent your Global Debt Recovery debt going to court, even if you can’t afford to pay.

Can I Get a Debt Solution?

There are several different debt solutions in the UK, so you need to make sure that you are choosing the one that will work best for your circumstances.

I recommend speaking to a debt charity. I have linked a few at the bottom of this page that offers free debt counselling and free financial advice. Their advisers will help you make sure that you choose the best debt relief option for you.

Debt Management Plan (DMP)

A DMP is an informal debt solution that lets you pay off your debts via a single monthly payment.

Because it is informal, it is not legally binding so you are not tied into a DMP for a minimum number of payments.

Individual Voluntary Arrangement (IVA)

An IVA is a formal agreement between you and your creditors. You agree to pay a monthly sum that is distributed amongst your debts, and your creditors agree not to contact you during your IVA.

IVAs typically last for 5 or 6 years, and any outstanding debt is wiped off when it ends.

Keep in mind that IVAs are not suitable for everyone. You need to owe several thousand pounds to more than one creditor to be eligible. You also need to demonstrate that you have some disposable income every month.

Trust Deed

IVAs are not available in Scotland. Instead, you will need to opt for a Trust Deed.

Trust Deeds work in the same way as an IVA ‚Äì you pay an agreed sum each month that is shared amongst your creditors, they can’t contact you, and any leftover debt at the end of your Trust Deed term is written off.

Debt Relief Order (DRO)

A DRO is a good option for those facing financial hardship with no assets and little income.

For 12 months, you make no payments, but your creditors freeze your interest and don’t contact you.

If your finances haven’t improved during this year, you may be able to write off your unsecured debts.

Bankruptcy and Sequestration

If you have debts but no realistic possibility of ever paying them off, you may need to declare bankruptcy.

Bankruptcy has an unfair stigma attached to it as it may be your only way of getting a financial fresh start. That said, it is a serious financial situation that should not be taken lightly.

Sequestration is the Scottish version of bankruptcy.If you have little income and no valuable assets, you may be able to apply for a minimal asset process bankruptcy (MAP). A MAP is a quicker, cheaper, and more straightforward version of sequestration, so worth considering.

Stop Those Global Debt Recovery Calls

Dealing with Global Debt Recovery can be stressful, especially when they go overboard!

Some debtors have reported that as soon as they receive the GDR debt letter, they then start receiving phone calls asking them to pay.

First of all, don’t pay straight away and I will tell you why shortly.

Secondly, you can prevent Global Debt Recovery from repeatedly calling you by sending them your contact preferences and times of the day you wish to be called. If they ignore these preferences, they are committing harassment.

We will tell you how to complain about Global Debt Recovery at the end of my guide. You might even be awarded compensation!

Make a Global Debt Recovery Complaint

If you think that Global Debt Recovery has been unreasonable or behaved inappropriately, you can make a complaint. You can also make a complaint if you feel that they have broken any of the Financial Conduct Authority’s (FCA) guidelines.

Make your first complaint directly to Global so that they have the chance to sort out the issue themselves. If you feel that they have not taken your complaint seriously enough or have not addressed your issue properly, you can escalate matters.

You can make any secondary complaint to the Financial Ombudsman Service (FOS). They will investigate and, if your complaint is upheld, Global may be fined. You could even be owed compensation.

Global Debt Recovery Contact Information

Website:	https://globaldebtrecovery.co.uk/gdr2/
Phone:	0208 336 7000
SMS:	07837 207 809
Opening hours:	Mon to Thurs             8 am ‚Äì 6 pm Friday                          8 am ‚Äì 4 pm Saturday                    9 am ‚Äì 12 pm
Email:	[email protected]
Post:	PO Box 123D, New Malden, KT3 4LW