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Debt Collectors

From my past experience, working very closely with clients, a lot of people get very confused by debt collectors and often confuse them with bailiffs.

What is a Debt Collector?

A debt collector is NOT A BAILIFF. A debt collector will either buy a debt from a creditor or they will be assigned by the creditor to simply collect the debt on their behalf. A lot of bigger creditors will have their own ‘in-house’ collecting agents.

The difference between buying a debt and collecting the debt is that those collecting on behalf of a creditor have no legal rights over the debt and therefore cannot pursue you with legal action without the authority of the original creditor.

What rights to Debt Collectors have?

A Debt Collector is in no way a bailiff and therefore they have no rights whatsoever to enter your home. Some debt collectors will send notices through your door to say that they will be visiting, and people often panic when they receive these. What you need to remember is that they have no powers to force entry into your home or seize goods or demand money from you.

What to do if a Debt Collector calls?

If a debt collector either calls you or visits you at home then you treat them as you would any other creditor. As long as you are maintaining some sort of payment to them, then you needn’t worry. Sometimes debt collectors can be demanding, but you just need to remember to stand your ground and only pay them what you can afford.

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If you are struggling with debts then please call Payplan on 0800 2802816.

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Written by davemac on February 17th, 2011

Filed Under  debt advice, debt help, Payplan   |  Trackback  |   3 Comments

3 Responses to “Debt Collectors”

Frugal Confessions says

And as such they sometimes forget what it will do to their new year. When the letters come from the debt collectors asking for the payments and your budget can’t stretch to them then you may start to worry about.

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Bankruptcy « Centired.co.uk - For All Things Related says

[...] some point addressing financial problems and avoiding the bankruptcy route and debt collectors will have to take precedence over further spending and investigating the options available to you [...]

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Bankruptcy – Avoiding it | Hot Investment says

be a last resort as it places some very unattractive restrictions on you and your lifestyle. If the debt collectors have already been in touch, now is the time to get advice about how a debt management plan could.

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