Who is the Original Creditor and why have they sold my debt to PRAC Financial?
The Original Creditor is the person to whom you owed the debt previously. This might be a bank, credit card company, utilities or telecommunications business, or a company with which you had a business relationship.

Debt sale is an established means of Original Creditors dealing with their credit management issues.

PRAC Financial is a debt purchaser. We have acquired the debt so that we can work with you to agree a repayment.

I don’t believe this is my Debt. What should I do?
Please contact our agents who have written to you. They will have all the details required to be able to progress matters.
How do I Pay?
We exclusively utilise the services of external agents to engage with you. Please contact the agent or law firm who have contacted you. They will explain the options for payment to you.
I am an individual – will this affect my credit record?
It is possible that the Original Creditor may have marked your credit file as in arrears or defaulted.

If the debt was pursued through the courts, there is also a possibility that you may have had a County Court Judgment (“CCJ”) entered against your file.

We liaise with credit reference agencies in relation to your debt to us. Once payment is made, we can take steps to notify them of the current situation so that your credit file will reflect the improving position in relation to our debt.

How do I Check my Credit File and Where do I get More Information?
Please go to our Free Advice Service page. There are various organisations who will be able to tell you more about what this means in terms of your credit file.

You can check your credit file with the Credit Reference Agencies listed below:

Experian – 0870 241 6212

Equifax Plc – 0870 010 0583

Call Credit Plc – 0870 060 1414

Another Company Have Contacted me About This Debt
PRAC Financial now own the debt. You will have been contacted by one of our agents who are representing us in this matter. If in doubt, please seek clarity from them that they are instructed on our behalf.
How Much Should I Pay and Can I Pay Over Time?
Our agent will work with you to understand your circumstances and establish how much you can reasonably afford to pay over what timescale.
What Happens if I Don’t Pay?
This depends on the type of debt you owe and your circumstances. Please contact our agent to talk this through.
Complaints – I am Unhappy with the Way I have been Treated. To Whom Should I Complain?
For details of our complaints handling process please see the PRAC Financial Complaints Procedure:

Complaint Procedure

Contact Us

Or write to us at:
PRAC Financial Limited
F10 Longfields Court
Middlewoods Way
Wharncliffe Business Park
S71 3GN