About Debt Clear Recoveries and Investigations

Debt Clear Recoveries and Investigations is a debt recovery agency operating in the United Kingdom. Generally speaking, debt recovery agencies buy uncollected debts at a discount from a bank, credit card company, or other creditor, then attempt to collect the full amount of the debt.

Debt Clear Recoveries Ownership

Debt Clear Recoveries and Investigations (Debt Clear) often claims to have purchased debt from MBNA or to be working on behalf of MBNA. However, the company is owned by MBNA, so they are effectively the debt collection arm of the bank in the UK.

Function

Debt Clear undertakes some of the debt collecting functions for MBNA. In this role, the company or its representatives will contact creditors and request payment in full. They may also call and ask for payment or ask for an appointment to discuss a repayment plan. The debtor may write a letter, as specified in the Consumer Credit Act of 1974, asking for the agreement that makes Debt Clear the creditor.

Office of Fair Trading

Some find the letters from Debt Clear asking for repayment of debt to be polite, however, others find them harsh and intimidating. Others have complained that Debt Clear suggests paying off debt by refinancing a home or in other ways consolidating loans. The Office of Fair Trading (OFT) prohibits undue pressure and prohibits urging debtors to sell property or raise funds by further borrowing. If a consumer receives such pressure, they should contact the OFT.