Debt collection and Debt Collectors

What rights do I have regarding debt collectors and debt collection?

"Respectable debt collection companies follow a laid down process for every personal debt case they deal with."

Even though you have signed your finance or credit agreement and are bound by the terms and conditions of that agreement set out by your particular creditors at the point of sale, you do still have rights with regard to debt collection and debt collectors.

I feel as though my creditors are bullying me. Why?

The phone calls you receive from creditors are designed specifically with one aim in mind, to get as much money in as possible from people in your position every day. Because the people that do this job do not know you at all, this process is normally quite an unpleasant one. They do not care about you or your circumstances, all they are interested in is that they get some money from you over the phone!  We offer free debt help regarding collectors and debt collection companies.

Is there anything I can do about my situation?

The first and perhaps the most obvious piece of advice is never pay for debt advice! Any advice you receive should be impartial and is available from debt specialists. These specialist advisors should assess your current situation and then advise you based on that assessment. This is the foundation upon which you should base your decisions about solving your debt problems.

Once you appreciate that all these credit companies are limited businesses making huge profits year after year, you will realise that those profits come from people just like you. The banks and credit companies work out their interest rates and contract periods well in advance of the product launch because they know that borrowing money nearly always means that one day it has to be paid back.

Rogue debt collectors and what can be done about them?

Long overdue protection for people in debt has finally been put in place by the The Office of Fair Trading who say they have adopted a tough new approach towards rogue debt collectors in an attempt to help these vulnerable members of society.

Teresa Perchard, Head of Social Policy at the Citizens Advice Bureau said;

“In our experience unfair and heavy-handed debt collection practices are the most persistent and most damaging area of malpractice in the consumer credit field. The regularity with which they occur and the human suffering they cause are difficult to over-state. These practices are not confined to small collection companies, but are widespread throughout the credit industry."

“All too often, vulnerable people on very low incomes with problem debts face a barrage of threats designed to bully, frighten and intimidate. Incessant letters, phone calls and sometimes visits are all designed to persuade borrowers to prioritise a particular account over and above everything else. This does nothing to encourage a sensible resolution of multiple debt problems and often leads to further borrowing and an increase in indebtedness."

The OFT has warned that any debt collectors who are discovered routinely ignoring guidance and using dishonest tactics and harassment risk losing their licence.

Our trained debt counsellors are available to advise you now! We are able to tailor a bespoke debt solution for you based on years of valuable experience.

Either call our free debt helpline or submit your details online and one of our trained debt advisors will call you back at when it suits you.

This is a free, no obligation, confidential service and no sales person will call.