Debt Collection

Debt Collection Agencies, my thoughts so far

Over the last few years, I have spent a lot of time dealing with my debt. Part of dealing with my debt has involved Debt Collection Agencies in various guises, from the fake telemessages and post cards to the red letters, I have seen a lot.

I have spent quite a bit of time doing this and wanted to write a bit about it, to gather my thoughts so far and see where I end up.

What is a Debt Collection Agency

They are there to collect unpaid debt. From my own experience they want to achieve this as quickly as possible. That is all well and good but if like me you have a large number of debts, it can take quite some time to pay things off.

I find it pointless that when every time I call a Debt Collection Agency I am asked about a settlement figure, especially on some of my larger debts.

The truth is I would happily pay back the debt if I had the money – but I don’t, I have a little bit towards it each month and that’s all there is to it. In any event I would want to make sure I paid the whole debt off, so I know it is gone for good.

Difficult Debt Collection Agencies

I have experienced my fair share of these. You know the type, they won’t agree to your repayment plan and threaten all sorts such as court action if you don’t pay up. Normally in this case I would terminate my phone call and resort to sending a  letter with my offer of repayment.

Every time I have done the above, my offer has been accepted. So to me it seems that once again they just want to get the debt paid as soon as possible. I can’t blame them because they are just doing a job. Not one that I would want to do but someone has to I suppose.

I am quite happy to phone the debt collection agencies but in some cases it is better to write. As I mentioned above they will normally try to talk you into a higher payment amount, ignoring the fact that you have typically pro rated any payments you are making.

Example Income and Expenditure Form.

Offer of Repayment Letter Example.

Silly Debt Collection Letters

I have received some silly letters during my time in debt. Usually the letters are full of spelling mistakes, and when that happens it can be hard to take their threats of legal action seriously.

On another occasion, I had two Debt Collection agencies chasing the same debt, both were demanding I made payment. That was interesting because according to the Office of Fair Trading and their Debt Collection Guidance, this is unfair practice.

To make matters worse, one of the debt collection agencies had got a CCJ against me. After some time, and several stern letters the CCJ was set aside and the debt written off. Not bad in the end but I shouldn’t have gone through that. Even more so when a Warrant of Execution had been applied for and the Bailiffs were due to show up at my house.

What is a CCJ?

More goings on

False claims by Debt Collection Agencies are quite common as well. Stating they can do things when quite clearly they cannot. For example, one Debt Collection Agency told me they were going to get an Attachment of Earnings order. I explained that first they would need a County Court Judgment.

There was no reasoning with the girl at the end of the phone, she was right, I was wrong. Interesting that another letter to the company involved sorted out that little episode.

Or how about the threatening phone message at 12 o’clock telling me to call back by 3 o’clock that same day or legal action would be taken? 4 hours for me to call them back. I don’t think so.

A strongly worded complaint to the original creditor sorted that one out, along with an apology from the Debt Collection Agency concerned. Had this been someone else, they could have phoned back in a blind panic agreeing to an unaffordable repayment plan.

Being in Debt

It’s all part of being in Debt. I suppose I could feel threatened or worried by some of the things that have happened but I don’t. At the end of the day, I am trying to make payment and I do so. If that is not good enough then take me to court do what you will. It’s only money and life is too short.

The fact is as long as I am in Debt, I will be dealing with Debt Collection agencies. There is nothing I can do except to look forward to the next load of shenanigans. I wonder what they will do next?

Your turn

How about you? Have you had any funny encounters with Debt Collection Agencies? Please comment in the comments box to let me know!

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