Arvato - Everything you need to know, today
If a recent call from Arvato Financial Solutions has got you feeling troubled, we’re here to help.
Arvato is a market leader in the financial world, working within a number of different sectors in the industry. Even if you're not in debt, there's a chance you might come into contact with them if you're interested in finance.
In this guide, we’ll give you everything you need to know about:
- Who Arvato are
- Powers and regulations that Arvato must abide by
- What to do during a home visit
- Your rights regarding repossession of goods
- How to write off debt with Arvato
At NDH Financial, we specialise in IVAs (Individual Voluntary Arrangements) and have helped thousands of people on their way to becoming debt-free.
If you've been contacted by a debt collection company like Arvato Financial Services and would like assistance, fill in our contact form today!
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Who is Arvato?
Arvato Financial Solutions is part of a German conglomerate called the Bertelsmann Group. Arvato has offices across the world, including six in the UK. They offer a range of financial solutions, with their debt collection services being just one area they specialise in.Arvato offers a dedicated collections service on behalf of its clients, claiming to offer consumer-oriented solutions and support during the debt collection process. As part of their operations, they'll usually send a letter to inform you that you owe money before starting further attempts to collect the outstanding debt.
Is Arvato Regulated?
Arvato is regulated by the FCA (Financial Conduct Authority), which is the main regulator for British financial bodies.
Arvato has several ISO certifications - the company is a member of several other important financial institutions, including the CSA (Credit Services Association). They’re also PCI (Payment Card Industry) certified.
What Debts Can Arvato Collect?
Arvato's work stretches across the financial sector, providing a comprehensive service to their clients. For debt collection, they tend to focus on unsecured debt but ultimately cover a wide range:
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NDH Financial can help free you from the shackles of your debt.
Call us on 0800 002 9051 or apply below.
What Powers Do Arvato Financial Solutions Have?
Receiving communication from Arvato can be quite worrying at first, but there is no need to panic. One of the main things you need to know is that debt collection agencies don't actually have any additional powers over your original creditors.
Debt collectors hold no legal power and, in most cases, they will allow you to clear your debt through a payment plan.
However, having unresolved debt can lead to a bad credit report, so it's still important to try and pay off your debt in a timely manner.
What Happens If Arvato Financial Solutions Visit My Home?
Arvato has no legal power - this means that if they visit your property, you don't have to let them in. You have a right to refuse entry to a debt collector, and they’re also not allowed to attend your workplace or attempt to take debt repayment from anyone else.
Legally, Arvato agents don’t have to give you notice before a visit - however, they typically will get in touch first so that you can expect them.
It's illegal for debt collectors to try and force entry to your property. They also can't arrange a home visit during unsociable hours, which are usually considered to be between 9.30pm and 6am.
Debt collectors are not allowed to act in a provoking or threatening manner during the debt collection process - if you feel one of their debt collection agents is acting unprofessionally or in a manner that is inappropriate, they should be reported.
If you do decide to pay Arvato, it's important to check their credentials first and get a receipt, stating how much has been paid and which payment method you used. They'll usually offer a payment plan, but you can pay the debt in full if you decide this is the best option for you.
Can Debt Collectors Seize Your Goods?
People sometimes confuse debt collectors with enforcement agents (bailiffs), but they're very different entities.
Unlike bailiffs, debt collectors are not allowed to seize goods as payment towards an unresolved debt - they can only request a monetary payment, which you are welcome to refuse. If agents working for Arvato Financial Solutions attend your property and attempt to take items from you, this is illegal.
Other Rules Regarding Debt Collection
Whilst debt collection agencies like Arvato Financial Solutions don't have additional powers over your original creditors, there are several rules they must abide by.
- Debtors must always be given time to consider their options
- Debt collectors must be honest about their status and legal authority - Legal action (including county court judgements) can't be threatened, unless there is an actual possibility that it might happen
- Deception and deceit are not allowed and all communication must be honest and transparent
- The communication preferences of the debtor must be adhered to, including time frames in which they can be contacted
- Physical and psychological harassment are not allowed
- Debt recovery charges must be fair and appropriate
- Debt collectors must not act in a threatening or provoking manner during home visits
- Unfair methods cannot be used when seeking to recover statute barred debts
- All customer data must be accurate
If Arvato breaks any of these rules, they should be reported to the Office of Fair Trading (OFT).
Get in touch with NDH Financial today for a free consultation about your debts.
Call us on 0800 002 9051 or apply below.
Can I Write Off My Debt with Arvato Financial Solutions?
You can write your debt off with Arvato if you feel like it’s the best option for your situation - but remember, this is an optional route to take and you don't have to.
If you do decide to pay Arvato’s agents, always make sure the charges are correct and check their identification first. They should provide a receipt - a payment plan will usually be offered if you can't pay the amount in full.
If you don't want to pay Arvato directly, you may also be able to pay the debt off with the original creditor. However, this might not be the correct option for you. The good news is that there are a wide range of different debt solutions available, which you should research first before making a final decision.
At NDH Financial, we specialise in IVAs (Individual Voluntary Arrangements), providing a comprehensive service from start to finish. IVAs are formally binding agreements between you and your creditors, allowing you to pay off your debt with one easy monthly payment. This removes the hassle of having to pay off multiple creditors at once, also ensuring that you won't be chased for repayment.
IVAs are more suited to people who have more than one form of unsecured debt - if you're unsure about whether an IVA is right for you, head to our IVA Learning Hub.
If you feel like you need more advice, our friendly advisors can provide a no-obligation 30-minute consultation call to run you through the process.
Get Started on Your Debt-Free Journey with NDH Financial Today
As a personal insolvency specialist, with our own in house licensed insolvency practitioner, we've helped thousands of people to become debt-free over the years, making us an authority in the world of finance.
If you'd like to start applying for an IVA, we can help you. Fill in our IVA debt relief application form, and we'll be in touch.
Do You Have Any More Questions?
Our IVA Learning Hub Can Help
We know you might have questions and that’s fine.
We can answer most of those on our call.
But we’ve also built our learning hub so that you can learn more about an IVA and see if one is right for you.
Click below to check it out.