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Control Your Debt CrisisBe in charge of your debt in England and Wales |
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Book: Control Your Debt Crisis Debt Dictionary My blog on Wordpress Home page Debt Dictionaryat controlyourdebtcrisis.co.ukdebt collectorA debt collector or collection agency pursues payments on debts or the whole debt, usually on behalf of a creditor. Most collection agencies operate as agents of creditors for a fee or percentage. Some agencies (debt buyers) purchase debts from creditors for a fraction of the value. Creditors typically send debts to such agencies to remove them from their accounts receivable records, and then write off the difference as a loss. In many countries, these agencies are prohibited from certain abusive practices. However, experience shows they will generally operate as close to the limits as possible and frequently conduct themselves in a manner forbidden by the rules in place. In particular they will bully and harass, and there a numerous anecdotes of these organisations offering misleading information to debtors. They also clearly produce letters that imply - or even state - threats which either cannot be carried out, or require considerable legal process. Any letter received from such an agency should be examined carefully to see whether it is is little more than a puff of wind. At the same time debtors should be clear that it is not wise to ignore contacts from debt collectors, and I advise reading advice that is freely available, or buying books with advice. There are several excellent fora [forums] with experienced and knowledgeable people that will help if you ask the questions. You should seek a resolution of the problem in some way, but it is possible to force the original creditor to take the debt back on their books. In the UK there is considerable law and regulation which applies, and you should insist creditors and debt collectors obey these. Joseph Harris - Debt Control Man, Author of Control Your Debt Crisis on Your Own Terms LinksUseful links will be found throughout the site, and I will be grateful for any further suggestions. |
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Copyright © 2008 Joseph Harris, © S P Publications, © Get Results Books, © Control You Debt Crisis. This copyright material may be used only for strictly personal use unless permission is sought and granted under any terms agreed. Please ensure acknowledgment of copyright is included with any use - ©Joseph Harris www.controlyourdebtcrisis.co.uk. For any other use please contact me at this email address. email Joseph Harris, Publisher
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Control Your Debt Crisis On Your Own Terms; Make Creditors and Debt Collectors Obey the Law