When you don’t pay your debts, your creditors incur losses. To recover some of the money they have lost, they might sell your debt to a debt collecting company. These companies buy your debt at less than half of their value. So, they would be making a considerable profit by collecting the full amount or most of it, from you.
Sometimes, your creditor might just give the task of collecting to the company, and let them keep a part of the amount. In both cases, these companies have the same legal status as your original creditor. If you get a call or letter from a company like Robinson Way, saying you owe them, there is no need to be alarmed. Keep reading to know more about them and how to deal with your debt.
Who is the Robway Company?
Robway or Robinson Way Ltd is a debt collection company that is based in the UK. It is a subsidiary of Hoist Finance UK Ltd, and buys debts as well as collects them on the behalf of other companies. This company follows the Financial Conduct Authority Regulations which authorizes it to collect debts.
What will they do if you owe them?
Robway has a register of debtors who owe them, like every other company. When they acquire your debt, your name is added to this register. It won’t be much longer before they would reach out to you.
They will inform you about the debt through a call or letter. They generally give a week’s time for repaying the entire amount. Further, they wouldn’t threaten you with any kind of legal action the first time. If you ignore their request or fail to pay, they will keep calling you.
Even though they generally can’t hassle you for repayment, you might get multiple calls in a day. You would want to avoid it as it can be very stressful. If you haven’t paid the debt within the first 7-day deadline, they will send you another reminder.
This time, they will demand you to pay the amount added with a penalty charge for late payment. If you fail to pay even this time, they will send an agent to visit you. You will be notified about this in a letter as a reminder itself.
What Happens if you don’t Pay them?
If you are still unable to pay your debt, after the last warning, Robway will send one of their field agents to visit your residence. This agent won’t have any special powers and can’t enter your residence, without permission.
Once you let them in, they can only request you to pay the full amount. You can also discuss the payment arrangement with them. But, if you don’t, the agent is not authorized to take any goods from your house. From that point, they would have to start a legal proceeding, for further action.
What Powers does a Robway Debt Agent have?
As opposed to enforcement agents or bailiffs, the powers that Robway agents have is very limited. They can visit you when they are assigned by the company, but they can’t appear at your residence at any time. They can only come after 9 am and before 6 pm.
Since they mostly collect debts for companies, they cannot use any level of force to enter your home. That is a power given only to bailiffs, that too only in case of certain types of priority debts. Also, unlike enforcement agents, they cannot take control of goods in your home.
If the company wants to do so, they will have to do it through bailiffs, after an order from the court. But no matter how limited their powers are, these agents are no less capable of chasing debt. You must never think you can avoid them forever. They might try to get you to pay by creating embarrassing situations or some other tactics. But, since these are not officially accepted, you can complain against them, if they threaten you.
What Legal Action can they take against you?
If Robway is unable to recover the debt through their agents, they can and will initiate a legal proceeding against you in the county court. There, you might face various kinds of actions. The court can order a bailiff to visit your house and make a list of the goods.
If you’re unable to pay, these goods will be sold off to recover the debt. Though they wouldn’t take any goods that are essential for your daily life. The creditor can also file a charging order for securing the debt against an asset of yours. If they win, you are at risk of losing the asset.
If you owe them more than £750, you might face a bankruptcy petition. And, if you own a business, it would be at risk of getting shut down. Also, it can get you barred or removed from certain job positions. Further, you also won’t be able to take a loan for quite a long time. So, it is something that clearly can’t be taken lightly.
What to do if you can’t Repay them?
Not paying them even when you can, wouldn’t be a wise decision. That will clearly affect your life in a serious way. But, if you’re unable to pay due to financial problems, they might act considerately towards you.
Though they wouldn’t stop chasing your debt altogether. If you ask for some time, they can probably grant you that. You can also try to get them to settle for a lesser amount. Otherwise, you can also get into a payment arrangement with them.
But, you must try to make the monthly instalments as affordable as possible. A debt advisor can be very helpful for the purpose of dealing with the company for you. You can go for formal agreements such as an IVA.
Should you include your Robway Debt in an IVA?
An IVA can be an effective way to deal with debt collectors. In this arrangement, the creditors won’t be able to force you for payment. Your IVA supervisor would manage all the dealings and payments, with your creditors. You can clear off all, or at least most of your debts using this arrangement.