If you have been contacted regarding a debt you don’t believe is yours you have a right to dispute the debt or the amount of the debt. When you make a reasonable request, debt collectors should be prepared to give you account information and copies of contracts.
Be aware a debt collector may contact you for a debt you may have paid in full. In this case explain to the creditor you have paid this debt and offer supporting documents to prove payment has been made.
Creditors will often agree to an extended period for repayment if you are struggling to make a payment. You may be able to negotiate a lump sum full and final offer with the creditor. When you are offering a payment plan please much sure the repayment is sustainable given your budget as expenses may increase […]
It is important to keep good personal records. Remember the following tips: Keep all your receipts or other records of payment and copies of any letters you send to any debt collector or creditor. Keep all your records together to avoid losing anything. A debt collector should not visit you at your workplace unless you […]
A creditor or debt collector can only make 3 phone calls or letters per week. Phone or personal contact can only be between the hours of 7:30 am 9:00 pm on weekdays. No contact allowed on national public holidays. A debt collector is a person who collects debts. A debt collector must be co-operative and […]
A debt collection agency may only contact you when they have a good reason to call. A good reason could be: Wanting you to make a payment that is due; Making arrangements for payment; Enquiring as to why a payment has not been made; Reviewing an existing payment plan; or Recovering secured goods.
If you have borrowed money, you have a legal responsibility to repay the money you owe. Don’t avoid your responsibility to repay your debts. Are you responsible for someone else debt? You are not legally responsible for paying another persons debt. You may be legally responsible for other peoples debts by agreeing to be guarantor […]
There are so many reasons why people get into debt. They include unemployment, relationship breakdown, illness or excessive use of credit. If you are struggling to keep up with your debt repayments, don’t ignore the problem, as it will only get worse! Take control of the situation and act quickly. Analyse your current financial position […]
Make sure it’s your debt. If you are unsure, ask for proof of the debt – for example ask for a copy of the loan contract or credit application. If you believe that the debt is not yours or you disagree with the total amount, get some independent advice from a solicitor or accountant. If […]
Your rights and responsibilities Why did I get into debt? Are you in debt? When and where can you be contacted about a debt? A debt collection agency can Record keeping When negotiating a repayment plan I thought I settled that debt Disputing a debt Debt collectors must act within the law when recovering debts. […]