Restons Solicitors Limited: Should you repay your debt?

Who are Restons Solicitors?

Restons Solicitors is a UK law firm which focuses exclusively on debts and debt collection, usually on behalf of other companies.

They’ve been employed by banks, mortgage brokers, and utility companies. They collect about £50M per month in unpaid debts, including gas and electricity bills, bank charges, and other fees for clients.

According to their website, the firm won Best Legal Software and Best Data Analytics Solution awards in the Credit Management Technology Awards in 2019, and they’re ISO 14001 and ISO 9001-certified.

The business was started in October 2005 by Christopher and Sara Reston, who are both currently based in Andorra.

Where are Restons Solicitors based?

While the owners of Restons Solicitors are based in Andorra, the company’s head office is in the UK. They’re based in Mandarin Court Centre Park, Warrington, which is between Liverpool and Manchester.

The current address for Restons Solicitors is:

Trinity Chambers

800 Mandarin Court Centre Park

Warrington

WA1 1GG

How do you contact Restons Solicitors?

According to the Restons website, the best ways to contact the company are as follows:

• Phone number: +44 1925 426100
• Online payment: https://www.restons.co.uk (you’ll need your reference number)
• Post: Trinity Chambers, 800 Mandarin Court, Centre Park, Warrington, WA1 1GG

Are they a regulated debt collector?

Solicitors Regulation Authority

Restons Solicitors do not require regulation from the Financial Conduct Authority (FCA) like most other debt collection companies.

Because Restons are Solicitors, they fall under the ‘Exempt Professional Firm’ category in the FCA guidelines.

While not authorised by the FCA, Restons are authorised by the Solicitors Regulation Agency (SRA Number 425555). Being overseen by the independent regulator of solicitors and law firms in England and Wales, the firm must be in full compliance with the Standards & Regulations of the SRA for monitoring purposes.

The company is also a member of the Credit Services Agency and is therefore obliged to follow the Credit Services Agency code of practices.

Why would Restons contact me?

If Restons Solicitors has been in contact with you, it is probably to collect money they believe you owe one of their clients (your creditors).

Whether it’s your bank, your utility company, or another organisation, lenders often pass unpaid debts to debt collection companies like Restons. In this scenario, Restons ‘buy’ the debt from the original lender and seek to recover it for themselves.

What should I do if Restons have contacted me over unpaid debt?

If you have been contacted by Restons, the first thing to do is to check if you really owe money to them.

Even if you’ve had money problems in the past or struggled to pay your bills on time, you should always ask for proof of the debt you are being asked to repay, to make sure it’s a legitimate debt that’s been passed on by creditors or lenders.

Before making any moves to repay the debt that’s in dispute, ask Reston Solicitors for proof of the debt in writing. If it’s true that you owe the money, you should always seek debt advice before you decide if, and how, to repay what you owe.

What options do I have if I owe money to Restons Solicitors?

If you owe money to Restons Solicitors and you can afford to repay the amount, there are different ways of settling that debt: Repaying what you owe in full, or agreeing a debt repayment plan with the collector.

Settle the debt in full

If you can afford to pay the amount you owe to Restons, the easiest way to put an end to the debt collection process and move on with your life is to repay what you owe in full.

The easiest way to do this is to visit the Restons website, restons.co.uk, click ‘Make a payment’ on the homepage, and follow the steps to make your payment online.

If you’d prefer to pay another way, Restons also accepts payment via the phone, direct debit, standing order, cheque, and through the Restons app.

Come up with a payment plan

If you don’t have the income available to repay what you owe to Restons in a single payment, you may be able to arrange a longer-term payment plan.

Like most debt collectors, Restons are happy to accept payment in installments as long as they are guaranteed their money by a certain date.

Contact them and share your proposal, including details like the level of monthly installment and the length of the payment term, and give them a chance to either accept your terms or return with an alternative payment plan.

What if I can’t afford to repay my debts?

If you can’t afford to repay the money you owe to Restons Solicitors, there are debt solutions available in the UK that can help you deal with your unaffordable debts.

Debt Management Plan

A Debt Management Plan allows you to combine all your unsecured debts into a series of lower monthly payments while offering you protection from legal action.

A Debt Management Plan, or DMP, will give you the time you need to repay what you owe, and the peace of mind that debt collectors can no longer harass you. You can find out more about Debt Management Plans here.

Individual Voluntary Arrangement

An Individual Voluntary Arrangement, more often known as an IVA, is the most popular debt solution available in England, Wales, and Northern Ireland.

An IVA allows people with serious debt problems to enter a legally binding agreement with their creditors. First, you agree to pay a series of affordable monthly payments towards your debts over the course of five or six years.

In return, you will be able to avoid bankruptcy and deal with your debts in a manageable way, meanwhile lenders will no longer be able to play hardball with you by threatening you with court action.

At the end of your IVA, any unsecured debts that haven’t been covered by your monthly payment will be completely written off. If you’re interested in what an IVA could do for you, find out more here.

Where can I get more information on improving my financial situation?

If a debt collector has been in contact with you about money you owe, it can cause severe stress and anxiety, especially if you can’t afford to repay the sum that’s being discussed.

We can help. Creditfix is the UK’s leading provider of debt solutions like IVAs. With our knowledge of the industry and our experience of dealing with debt collectors, we’ve helped over 182,000 people in similar situations to yours regain control of their financial situation.

To get reliable debt advice and more information on how to keep debt collectors at bay, get in touch with a Creditfix debt expert today on 0800 0431 431.