Who are Midas Legal Services?

Midas Legal Services is a debt collection agency that works on behalf of lenders to recover overdue debts. They may also purchase debt from other companies to collect on their own. They are part of the Moorcroft Group, which handles a variety of debt types including council tax arrears, rent, business rates, parking fines, and more.

Why are Midas Legal Services contacting me?

Midas Legal may be contacting you because they have been instructed by your original lender to collect a debt that has been registered in your name. This could be due to missed payments on loans, credit cards, utility bills, or other forms of credit.

Is contact from Midas Legal Services serious?

Yes, contact from Midas Legal Services should be taken seriously as it involves the collection of outstanding debts. Ignoring their communication can lead to further action such as additional fees, damage to your credit score, or even legal proceedings.

Can a Debt Management Plan stop Midas Legal Services?

Yes, enrolling in a Debt Management Plan (DMP) can help manage your repayments and may stop Midas Legal Services from contacting you further. A DMP consolidates your debts into one manageable monthly payment, which can alleviate pressure from multiple creditors.

I have received a letter from Midas Legal Services, what does this mean?

Receiving a letter from Midas Legal Services may mean they are seeking to collect a debt you owe. The letter will typically outline the amount due, the original creditor, and instructions on how to settle the debt or contact them to discuss your options.

What rights do I have against Midas Legal Services?

You have several rights. Midas Legal Services must comply with regulations set by the Financial Conduct Authority (FCA). You have the right to dispute the debt if you believe it is incorrect and to request a detailed breakdown of the debt owed.

Midas Legal Services are sending debt collectors to my house, what should I do?

If debt collectors visit your home, you do not have to let them in. It’s important to ask for their identification and verify their identity. Contact Midas Legal Services directly to discuss your debt. If you feel threatened or harassed, you can report this behaviour to the FCA.

Will Midas Legal Services repossess my home?

Repossessing your home is usually a last resort and typically occurs only if the debt is secured against your property and you have failed to come to an agreement on repayment. Communicate with Midas Legal Services to explore all available options and avoid severe actions.

What Debt Management Plans can help stop Midas Legal Services from contacting me further?

DMPs, Individual Voluntary Arrangements (IVAs), and Debt Relief Orders (DROs) are some options that can help manage your debts and reduce contact from creditors. These plans involve restructuring your debts into more manageable payments and can provide legal protection from creditors once agreed upon.

What if I can’t afford to pay Midas Legal Services?

If you’re unable to afford to pay Midas Legal Services, you should contact them to explain your situation. They may offer a more affordable repayment plan. You can also ask debt charities for help including StepChange and MoneyHelper.

Alternatively, to speak with an expert debt advisor about debt solutions, you can contact MoneyPlus today.

Important: Please note that MoneyPlus are not associated with Midas Legal Services in any way. The information on this page is provided to help consumers contact their creditors. If you’re finding it difficult to make your monthly payments to Midas Legal Services you may need help managing your debt.