Who are Hoist Finance debt collections?

Hoist Finance are a multinational debt collections agency originating from Stockholm, Sweden, their UK office is based in MediacityUK, Salford. Previously trading under the name Hoist Finance, the company now operates as a UK sub-breach of the larger Hoist Finance company. The agency collects debts from across the UK, pursuing debts for companies and seeking payments from debtors on their behalf. This can include sending letters, phone calls, debt collection agents and even through legal action.

Why are Hoist Finance contacting me?

Hoist Finance is trusted debt resolution partner to banks, individuals and smaller companies who pursue outstanding debts on behalf of companies who are unable to recovery payments. They recover debts for a number of companies in the UK ranging from Ebay and PayPal to Tesco and Natwest, they do not own the debts themselves and work as a recovery service for the creditors they are employed by. If you have received letters or contact from Robinson Way or Hoist Financial, chances are your creditors have passed your debts over to them for recovery action.

Is contact from Hoist Finance serious?

Yes, receiving a letter or call from Hoist Finance should be taken seriously. Hoist Finance are a legitimate debt collection agency registered and regulated by the Financial Conduct Authority (FCA) to collect and recover debts. Hoist Finance parent company Hoist Financial are also a founding member of the credit services association, a regulation body that aims to safeguard consumers in the debt recovery process.

This means that the company is officially recognised and can legally pursue your unpaid debts through letters, calls and other means to recovery your outstanding debts. After contacting you, Hoist Finance will continue to seek payment from you through various methods, even escalating to legal action if you fail to respond to requests. 

Can a debt management plan stop Hoist Finance contact?

Dealing with debt collection services on your own can be daunting and it’s hard to know what options are available. Luckily, a debt management plan may be able to help. By contacting a debt advice company, like MoneyPlus Advice, we can offer advice and set up a debt management plan that can help lower your monthly payments and find a repayment method that works for you. More importantly, a debt plan can offer legal protections against debt collectors, ensuring that you are covered from any future contact from Hoist Finance or any other collection agencies seeking payment.

We can deal with your creditors and debt collectors on your behalf, protecting you from future collection efforts and potential bailiff and court hearings from Hoist Finance. MoneyPlus Advice can offer judgement and jargon free financial advice, that helps you deal with creditors and handle your outstanding debts.

I have received a letter from Hoist Finance what does this mean?

If you have received a letter from Hoist Finance, it is likely that your creditors have passed your outstanding debts to Hoist Finance for recovery. This letter will include a request for the outstanding debt repayment as well as any addition fees and interested applied by Hoist Finance.

It is important to take action after receiving this letter, Hoist Finance will continue to apply pressure to receive payments and any attempts to ignore their requests could ultimately lead to further debts with continued interest and arrears fees, Hoist Finance may also send debt collection agents to your house if you continue to ignore these requests. This is why contacting a debt advice company as soon as possible is an important step.

Hoist Finance are sending debt collectors to my house, what should I do?

Do not let debt collectors into your home.

It’s vital to remember that debt collectors cannot legally enter your home and cease your property without legal due process. Debt collectors may enforce intimidation tactics or threats to receive payment from you but it’s important to remember your legal protections when dealing with debt collectors.

Remember that debt collection agents are not bailiffs, who act on behalf of courts to enforce legal action on property. It is illegal for debt collectors to mislead you in this regard, and they must clearly state who they are representing upon visiting your home.

Though it is important to remember that while debt collection agents cannot legally enter your home, Hoist Finance will continue to seek payments from you and once debt collectors are sent, the company may move ahead with legal action against you as a final effort to recover your debts. While you may be able to keep Hoist Finance debt collectors away from your property in the short term, repaying your debts or entering into a debt solution, such as a Debt Management Plan, is the only way to ensure that they stop any further recovery action against you.

Will Hoist Finance repossess my home?

Losing your home to Hoist Finance is unlikely, however, it can happen if your outstanding debt is secured against your home.

When looking to obtain unsecured debts, Hoist Finance will require a court order known as a charging order before being allowed to repossess your valuables and property.

It’s important to seek debt advice before your arears with Hoist Finance proceed to this point, if you have received letters, phone calls or visits from Hoist Finance agents requesting payment you should get in contact with MoneyPlus Advice before legal action is taken against you.

What debt plans can help stop Hoist Finance from contacting me further?

There are many debt management plans that can protect you from creditors and recovery agents such as Hoist Finance.  When signing up to most debt management plans, you become legally protected from creditor contact and all payments and interaction with creditors is handled by your advisor at MoneyPlus Advice.

There are a number of debt management solutions that can help you more manageably repay your debts, these include:

What if I can’t afford to pay Hoist Finance?

If you have the money to repay your outstanding debts to Hoist Finance, it’s best to repay them before things escalate to further contact or legal actions.

If you are unable to make your payment, a debt plan may be your best option. A debt advisor will work out a debt repayment plan, allowing you to repay only what you can afford back towards your debts each month.

An IVA with MoneyPlus Advice could cut your monthly repayments by £239 a month, allowing you to repay your debts in a manageable, easy monthly instalment.

How do I stop contact from Hoist Finance?

As Hoist Finance are an FCA debt collection agency, they are legally allowed contact you in multiple ways to try and recover outstanding debt payments from you. It’s important to remember that Hoist Finance are not legally allowed to harass or intimidate you. Hoist Finance cannot try to force you to pay nor can they contact you at unreasonable hours.

What a reasonable time means may be unfortunately broad and early morning/ evening calls could be expected. Debt collection companies cannot contact you before 8am in the morning or after 9pm at night, unless given express permission to do so.

Under current regulations you can specify some of the ways you wish to be contacted by your creditors, including specifying reasonable contact times and denying contact through call or email (though they can continue to contact you through letters)

Hoist Finance will continue to pursue you until a payment is made or you get in touch with a debt advisor to contact Hoist Finance on your behalf. Speaking to a financial advisor can help put a debt repayment plan is place between you and Hoist Finance. Once a Debt Repayment Plan is reached and your plan is approved you will be legally protected from creditor contact and Hoist Finance will be unable to contact you further.

How do I get help with Hoist Finance?

If you have received contact from Hoist Finance, getting in touch with MoneyPlus Advice today is the best course for dealing with the Debt Recovery service. Our website can tell you in just ten minutes if you are eligible for a debt plan and the sooner you get in touch, the sooner you can be ahead of your debts.

Don’t put off getting ahead of your debts, get in touch with MoneyPlus and live better today.