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.
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.
You can check your credit file with the Credit Reference Agencies listed below:
Experian – 0870 241 6212
www.experian.co.uk
Equifax Plc – 0870 010 0583
www.equifax.co.uk
Call Credit Plc – 0870 060 1414
www.callcredit.co.uk
Complaints publication report
We, at Prac Financial, take every complaint seriously. We invest heavily in keeping our staff development focused on customer needs so we can be confident that all call and correspondence handling ensures that customers are treated fairly throughout our collections process. When we or our clients make a mistake, we act quickly to fix the problem and identify the root cause.
We aim to resolve all Level 1 complaints (oral expressions of dissatisfaction) within three working days, and any level 2 complaints (written complaints and any escalated level 1 complaints) that follow our formal complaints process, within eight weeks. If Level 2 complaints remain unresolved after eight weeks or if the customer is dissatisfied with our final response, they may have the option to refer the complaint to the Financial Ombudsman Service (FOS). The FOS also reports on the number of financial services complaints regulated firms receive.
The Financial Conduct Authority requires that all financial service firms report and publish UK FCA reportable consumer credit complaints on an annual basis. A complaint is “any oral or written expression of dissatisfaction, whether justified or not”. We also have to treat that expression of dissatisfaction as a complaint whether it is about Prac Financial Limited or about one of our creditor clients.
We set out below the complaints data which the FCA require us to publish. The following is of further note:
- We receive complaints in only 0.00 per 1000 cases under Prac Financial’s management;
Prac Financial Limited
Period 01/07/2023 to 31/12/2023
Product/Service Grouping | Provision (at reporting period end date) | Intermediation (within the reporting period) | Number of Complaints opened | Number of complaints closed | Percentage of complaints closed | Percentage closed within 3 days | Percentage Upheld | Main Cause of complaints |
---|---|---|---|---|---|---|---|---|
Credit Related | per 1000 Accounts (0.00) | N/A | 1 | 1 | N/A | N/A | 0% | N/A |
Or write to us at:
PRAC Financial Limited
F10 Longfields Court
Middlewoods Way
Wharncliffe Business Park
Barnsley
S71 3GN