Who are The Money Shop?

The Money Shop is a financial services provider offering various products including payday loans, pawnbroking, and cheque cashing services. They have been in operation for several years and cater to individuals seeking short-term financial solutions.

Why are The Money Shop contacting me?

The Money Shop may be contacting you because you have an outstanding debt with them. They typically reach out to remind you of missed payments or to discuss repayment options.

Is contact from The Money Shop serious?

Yes, receiving contact from The Money Shop is serious. Ignoring their communications can lead to further action, including additional fees, negative credit reporting, and potential legal measures.

Can a Debt Management Plan stop The Money Shop?

Yes, a Debt Management Plan (DMP) can help manage and potentially stop contact from The Money Shop. A DMP consolidates your debts into a single monthly payment, negotiated through a credit counselling agency, which can reduce interest rates and stop creditors from contacting you directly.

I have received a letter from The Money Shop, what does this mean?

Receiving a letter from The Money Shop indicates that they are formally notifying you about an outstanding debt. This letter might outline the amount you owe, due dates, and potential consequences if the debt remains unpaid.

What rights do I have against The Money Shop?

As a debtor, you have several rights including the right to be treated fairly and not harassed. You can request a copy of your loan agreement, seek clarification on any charges, and negotiate a repayment plan. If you feel your rights are being violated, you can lodge a complaint with the Financial Ombudsman Service.

The Money Shop is sending debt collectors to my house, what should I do?

If debt collectors are sent to your home, you have the right to ask them to leave and to communicate only in writing or via phone. You can also request proof of the debt and seek advice from a debt charity or legal advisor to understand your options.

Will The Money Shop repossess my home?

The Money Shop cannot repossess your home without a court order. If your debt is unsecured, repossession of your home is unlikely. However, it’s crucial to address the debt to avoid legal proceedings that could lead to more severe actions.

What Debt Management Plans can help stop The Money Shop from contacting me further?

Several debt management plans can help, such as those offered by ourselves at MoneyPlus. You may want to get in touch to see if you’re eligible for a Debt Management Plan. Individual Voluntary Arrangement, or Debt Relief Order.

What if I can’t afford to pay The Money Shop?

Contact The Money Shop immediately if you’re unable to make repayments as they may offer to restructure your plan to make it more affordable. Failing this, you can contact debt charities such as MoneyHelper and Stepchange for free advice.

If you’d like to speak with an expert debt advisor, you can contact MoneyPlus today to discuss your potential debt solution options.

Website: www.MoneyShop.com

MoneyPlus are not associated with The Money Shop in any way. The information on this page is provided to help consumers contact their creditors.

Please Note: We are not affiliated with The Money Shop. However, if you are having trouble with The Money Shop, please contact us now. * At time of writing