Non-Regulated Debt Collection
Debts that are not covered by the Consumer Credit Act are called Non-Regulated debts. It is always worth checking if a debt is regulated or not as it will indicate what rights you may or may not have under a certain agreement.
Debts which are Non-Regulated include:
- Certain Mortgages;
- Debts to either friends or family;
- Debts to unlicensed lenders (such as loan sharks);
- Certain household bills (such as Gas, Water and Electricity);
- Debts to local or central Government;
- Council tax;
- Benefit over payments;
- Certain Taxes;
- Certain credit union loans;
- Some types of business debt (such as School Fees and Funeral Services);
- And more;
Rights under Non-Regulated Debt:
Unfortunately, you may not have all the same rights if you owe money with a Non-Regulated Debt, than if it was Regulated. However, there are still requirements that need to be legally met for these type of creditors. Most creditors are regulated by trade bodies or relevant Ombudsman services (such as the Financial Ombudsman). Where applicable, these creditors will still need to treat their customers fairly and these services can be used if you are not being treated in accordance with this. Creditors, or acting creditors still may also be regulated themselves and will need to abide by the regulations set out to them by these governing bodies. Here at Town & Country Legal Services, we are fully authorised by the Financial Conduct Authority and fully uphold these standards.