Excessive Calls from Creditors Can Be Stopped.

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If you feel that the amount of calls that you are getting is excessive, or you feel that the calls from Debt Collection Agencies (DCA) are too aggressive, then they can be stopped!

Very often we hear complaints from people that creditors are contacting them too many times a day. It is also not unusual to hear complaints that some of the calls are rather aggressive. Sometimes the calls can be extremely aggressive towards the debtor.

In this particular case the client felt that the number of calls they were receiving was excessive. In this particular case the company acted very professional and responsible. The following response was received by one of our associate companies:

“Marlin Financial Services

Dear Sirs

I write with reference to your letter dated 20 January 2012.

I note your comment and can understand your concerns. The telephone calls that were made to …………………. were not made with any intention to harass her. The calls were made as we were not having any response to our telephone messages left with your company.

We will continue to make contact with ………….. through your company all the time that you are acting and respond to our correspondence.

I hope this is of assistance to you.

I have been the victim of fraud, my card was stolen and my details were compromised. My overdraft limit was increased and this money was taken, resulting in a debt of £1350.

I reported the fraud to my bank on the 12th September 2011, my case has since been on going, and it was declined and appealed. As of the 8th December 2011, the bank came to a final decision that they would not overturn the debt. The bank is adamant that I did not keep my PIN securely, they have ruled out the fact that I may have been shoulder surfed without proper justification; they are simply blaming me, and are only concerned about getting the money owed to them.

I have previously been contacted by triton credit services on many occasions; on the 4th November, I was contacted again, and the operative had threatened me into setting up a payment plan. I feel that I was forced to set up a plan, although I have no intention of paying this debt since I am the victim of fraud, and also I do not have the money to pay this debt. Since the bank has made its final response, I have to take my case to the financial ombudsman.

Please can you offer me some advice as to how to proceed?

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Debt Collection Letter from Central Debt Recovery Unit

Here is another example of a debt collection letter:

“Central Debt Recovery Unit

CDRU REF No.

Dear

Re: Card Services, HSBC Bank
Your Debt £1052.15

Your debt has been referred to us for an immediate collection.

We specialise in the recovery of debt such as yours where normal method of recovery have proved ineffective.

We are however, prepared to give you a final opportunity to pay voluntarily.

To bring this matter to a conclusion, you must pay the balance of £1052.15 by 6 December 2011. We can arrange for you to pay using a variety of different methods including the use of a payment card ministered by Girobank.

If you cannot pay by this date, you must telephone us using our Telephone number 0845 6090548.

Yours sincerely,

Central Debt Recovery Unit”

It is still not too late to do something about this – Act now before it escalates into something that is harder to negotiate.

Debt Management Plan (DMP) Helps Client.

Here is an example of how we were able to assist someone who was in desperate financial trouble.

Having reviewed their current situation and also having done an in-depth financial

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fact find by an associate company – it was found that a short term solution was to place the client into a debt management plan (DMP).

As you can see from the attached letter 1st Credit/Connaught Collections are willing to accept £3.00 per month.

“Connaught Collections

Re: 1st Credit Ltd – Lloyds TSB -v- Mr XXx
Outstanding Debt – £2450

we write a further to your recent correspondence with regards to the above stated outstanding debt, and your client Mr XXx

we are willing to accept your clients offer of £3.00 on a MONTHLY basis, however this is on the strict proviso that the instalment plan adhered to. Should your client default on the arrangement, further action may be taken to recover the outstanding monies owed to our client.

Please ensure that your clients first payment of £3.00 is received at this office no later than 30/11/2011, along with their preferred method of payment i.e. Standing Order/Payment Book or Cheque/Postal Order’s.

We reserve the right to review this plan periodically and confirm that we shall add no further interest or charges to your client account.”

This is a good example of how a desperate situation can be stopped.

In this particular case, the client is making reduced monthly payments that they can afford.

Here is a case where a client is issued with a County Court Judgement to pay immediately £2162.75 plus £155 cost.

In this particular case the client was an able to pay the full amount that was being demanded through the courts. With the assistance of an associate company they were able to achieve reduced payments £3.00 per month.

“Variation Order

The judgement made against the defendant in the Northampton (CCBC) County Court

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on 17 January 2011 for payment of £2162.75 and £155.00 four costs is hereby varied.

It is now ordered that the defendant pay the claimant the outstanding sum by instalments of £3.00 for every month the first payment to reach the claimant by 4 November 2011.

To the defendant

If you do not pay in accordance with this order your goods may be removed and salt or other enforcement proceedings may be taken against you. ”

It is advisable not to allow your debts to get to the stage where a creditor applies to the courts for a County Court Judgement. The above problem could have been solved at an earlier date without having to get the courts involved.

This is obviously a good result for the client as they are now able to make affordable payments towards this debt.

When you are in Debt you look at anything that will save you money or make you money.

So we thought that it would be a good idea to list some sites, that we think offer services or advice that would help you on your journey.

These are all UK Based sites.

The list is in no particular order:

Miss Thrifty

“The award-winning Miss Thrifty has become hugely popular. Her posts tackle all cash problems: beauty, fashion, holidays, weddings, personal finance and food” – The Daily Telegraph

This site is packed full of great money saving ideas. Subscribe to the Miss Thrifty newsletter for regular updates – We do!

http://www.miss-thrifty.co.uk/

Money Saving Blog

This site gives lots of information on as the name suggest, on saving money.

The site covers all sorts of topics from; Popular Winter Cruise Destinations, Booking Car Hire Online, The Savings Trap, Food Money Saving Coupons and much more.

http://howtosavemoneyuk.org.uk/

Frugal

“Started back in July 2008 by the formidable FruGal, TotallyMoney Blogs is now a little older and a little wiser. Once a one woman show, TotallyMoney Blogs now houses a whole host of frugal mavens who are hell bent on letting you know how to live large on a small budget. We celebrate the best of the personal finance blogosphere in our TotallyMoney Carnival and in our brand spanking new TotallyMoney Top Personal Finance Blogs list.”

http://www.totallymoney.com/blogs/

Riding The Rhino

This site is a forum primarily for visitors to ask question about debt issues. You can sign up anonymously and ask any question about debt or money.

We always recommend that you ask as many people as possible about your situation, this way you will get a good idea of what the solution should be.

Also the site is completely free to use.

http://www.ridingtherhino.co.uk

The Lean Times

“Lush living with thrift” The £10 A Week Challenge, to recipes and much more.

“I work in the, not as glamourous as you would think, world of fashion photography.  Being a freelancer where the money comes and goes and goes: you always must be prepared for The Lean Times.”

http://www.theleantimes.com/

Too Many Shoes

“Hi, I’m Belle.

A friend and I started this site to bring to every ladies attention that you can always have what you want – Love, Money, Shoes – if you want them, you can actually have them.

I wrote the blog, it tells you my trials and tribulations and how I enrolled into my current lifestyle and how I keep it.”

http://toomanyshoes.co.uk/

Vouchercloud

This really is a fantastic site, they even have an app that you can download, so that you get the latest discounts straight to your mobile.

The site lists all the major retailers who are offering discounts.

http://www.vouchercloud.com/

CashBack.co.uk

By using this site you can save money when you shop on-line and also off-line.

Before you make any purchases on-line log into the CashBack site first and then start buying. As you shop you will then get CashBack to your account. This site even gets you CashBack if you use eBay.

http://www.cashback.co.uk/

Savvymummys

“saving mummys money”. Savvymummys uses the power of group buying to get up to 90% off top brands, shops, cafes and all things mummy’s love in your community.

http://www.savvymummys.co.uk

Check back every so often as this list will increase.

Here is an example of how a debt of £2242 Was settled for £678 in Full and Final/Short Settlement with Debt Clear Recoveries & Investigations Ltd.

“SHORT SETTLEMENT OFFER

With regards to recent correspondence we are pleased to offer a short settlement of £678 available until the 31 October 2011.

Once the settlement is confirmed & payment is received, MBNA will register a settlement with the licensed Credit Reference Agencies and a default will remain registered. You will not have to repay the remaining balance and the debt will not be pursued any further all stop
If the final payment Is not received by31st of October 2011 The settlement agreement will be null and void.

If you have any queries regarding the above contact our office today on 0161 819 2288

Client: MBNA Europe Bank Ltd
Debt: £2242.25″

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Here is another example of how an associate company managed to save a client £1564.25 in a full and final settlement.

Final Notice before Action

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Here is a copy of a letter from Rockwell Debt Collection Agency:

“Rockwell
P.O. Box 198
Southend-on-Sea
Essex
SS1 2GX
Call us on 01702 444794 or 0845 2241806

Outstanding Balance: £1804 .24

FINAL NOTICE BEFORE ACTION

Further to our previous correspondence, your account still remains unpaid and we have received no proposals for repayment. It is a legal requirement to us to send a notice of Intended Litigation before legal proceedings are issued against you. This letter meets these requirements, even if it is not actually read.

We will now consider the options available to us to recover this debt, including litigation.

To prevent legal action from being taken you must arrange to make payment in full to these offices by 20 September 2011 otherwise we will take immediate action against.

If you fail to respond to this letter Judgement Order/Decree may be obtained and, if this remains unsatisfied, enforcement of your debt may be sought by one or more of the following:

• Warrant of Execution by bailiffs against the goods you own
• Attachment of Earnings Order with your present or future employer
• Charging Order on any property you may own now or in the future
• Enforcement in Scotland following Decree if appropriate

You should understand that a judgement/decree against you would seriously affect your ability to obtain further credit.

TO AVOID ROCKWELL TAKING ANY FURTHER ACTION, TELEPHONE THE PRE-LEGAL DEPARTMENT NOW ON THE NUMBER ABOVE.

ROCKWELL DEBT COLLECTION AGENCY”

Obviously the letter above should be taken seriously! In this particular case, the client sought help and reduced monthly payments are being negotiated.

As part of a pro-rata split the client will be paying £11 to the creditor on a monthly basis, in a debt management plan.

Payday Loans

This is a short-term loan designed to give you funds until payday. Some providers require the funds to be paid back as soon as you have been paid whilst other operate more flexible repayment terms.

Payday loans are a fast and convenient way of getting cash but can be rather expensive. The loan is usually paid direct to your bank account, usually within just a few hours to about 24 hours once your application has been approved. The repayment(s) plus interest is taken directly from your account on the pre-arranged due date. There is usually a typical charge is about £25 per month for every £100 borrowed. Advertised interest rates (APRs) can be about 2,000% or even more.

Why are the interest rates so high?

This is mainly due to the small amounts involved, credit checking procedure costs and also the fact that these loans have a higher than average risks of the borrower defaulting.The Payday loan should only be used as a short term solution, otherwise the cost to the borrower would be astronomical.

Logbook Loans

Basically, the loan is secured against your car, so if you fail to make repayments you could end up losing your vehicle, as well as having to pay a high rate of interest. As the loan is secured against the vehicle there are often no credit checks. This can make it more temping for customers who are struggling with other debt to take out a Logbook Loan. The downside is that they are putting their car and finances at risk.

Doorstep Lenders

These basically are to payday loans, except that repayments are typically spread over a longer period and a representative from the company visits your house to collect a weekly/monthly repayment.

In general these are cheaper than Payday loans, but they can still very expensive.

Here is a recent video testimonial.

For more Debt Advice UK testimonials visit our:- Testimonials Page

http://www.youtube.com/watch?v=N0rW0I9SEr8