Fair Debt Collection Practice!
Debt Collection Help ensures that we'll settle down all your accounts in full
. There would no more be instances of payment defaults any longer at least if you choose an online debt collection agency uk. If situation demands a repayment plan will be chalked out on your behalf and sent to the debtor or the borrower on your consent.
Debt purchasing is becoming big business in the UK with many specialist debt collection agencies, such as Capquest Debt Recovery, providing advice on how best to proceed with the recovery of unpaid debt. Should you have a need to employ the services of a debt collection agency make sure that they are members of the Credit Services Association, a regulatory body associated with the debt collection and financial industries
Another advantage of using this type of debt collection service is that no matter how large the debt, you will only have to pay a flat rate fee of 50 pounds plus the VAT. This is a subscription based flat fee that is charged.
Change you number to an ex-directory one. Make sure if you do this that your own number is set to "withhold" otherwise people will gradually get to know it. Do not put your number on any official forms of any kind.
I'm not sure whether this last point is against the rules (this site is only based on my personal experience) but beware of debt collection agents that try to get you to stop/reduce priority debt payments (mortgage, rent, food, tax, fines) to be able to pay them some money. Some will try because they don't really care what trouble you get into.
a past due medical debt or an auto loan. Fearing that they might be put behind the bars or their wages will be garnished, the majority of consumers ignore collection calls and debt collectors' letters.
Why are you being contacted by some company you've never heard of before? It may mean that one of your creditors has not received payment from you for several months. That bad debt was then turned over to the collection company. The collection companies operate in a variety of ways; some "buy" your debt for less than you owe, some work for a percentage of the money they collect, while others may be an in-house division of your original creditor. If the bad debt is truly yours, it might be time to negotiate a payment schedule with the collection company, and enjoy your family dinners again.
Per the FDCPA, a collector may not contact you if, within 30 days after you are first contacted, you send the collection agency a letter stating you do not owe money. (This is known as a dispute). However, a collector can renew collection activities if you are sent proof of the debt, such as a copy of a bill for the amount owed.
Unfortunately, more often than not, we turn to these guidelines after we have committed mistakes. It is when we need help to get us out in the rut that we take the time to consult and study the ways and means that should have saved us the trouble to begin with.
Fair Debt Collection Practice!
By: Clair Ferguson
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