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I’ve just received a letter from Past Due Credit Solutions saying they are going to come to my house, what shall I do?! Can they take my stuff?
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Hi Myles, first of all don’t panic! The first thing to note is that although it may be intimidating, debt collectors have no court appointed powers so you have no obligation to let them into your home. If they do turn up, ask to see their ID and you can talk to them through the letterbox or through the door. Unless they have a court order and bailiffs with them, then they won’t be able to take your stuff.
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Ok thank you, is there any way I can stop them from visiting all together? I'd rather get the situation out of the way before having to deal with anyone face to face, I think i'll just worry every second until they do turn up if I just sit and wait.Comment
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To stop them from visiting and to stop the situation from escalating, get in touch with them and explain your situation - I've found some guidance online for Past Due Credit Solutions specifically that may be of some help to you. If you do owe the debt then the easiest thing to do is just to pay it in full if you can afford it. If not, try to set up a payment plan with Past Due which you can afford. If you feel they are not cooperating with you or treating you unfairly then you have the right to complain to them and then the financial ombudsman if it isn't resolved.Comment
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All you do with anybody if ever they turn up , they are only commission agents local, do do not have to talk to anybody , only to ask them to shut the gate on the way out, they probably give a card asking you to ring a number, ignore and get on with your life, they have no powers, see what next they try!Comment
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From all the advice i've read online ignoring them and kicking the can down the road doesn't seem like a smart thing to do? I'd rather get it dealt with now? I appreciate your help man but that advice doesn't seem super productive?Originally posted by MIKE770 View Post
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Erm ok thanks, how much do you think they would accept? What if they don’t accept anything lower than what I owe?Originally posted by LizMarkley View PostComment
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if you ring them they will try to get full amount" but if initially do not act they :_
They will then write again offering an out of court settlement, which is/will be lower than original (they only collect on behalf of utilities and HMRC usually,)commission basis., if you wait you probably save pounds, BUT if you agree then make sure that it written in:- NO balance will be passed to other companies, as I found out to my cost years ago, as you want to get rid of this one try it or of course you can set up payment plan,Comment
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Think Mike's answer there is one to listen to. One thing worth noting is that if you choose to settle then I believe it will stay on your credit report for a number of years as you not having paid a full amount. But yes, I'm not 100% sure who Past Due Credit collect for whereas Mike seems to have more answers here.
To answer your question Myles, most debt collectors (again I'm not sure if this applies to Past Due) buy debt in bulk at a margin of the cost so they would rather you pay a smaller amount than not at all or let the process drag on. I think offering 70% of the overall debt is a smart target....what do you think Mike?Comment
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I can't really tell you how much they're likely to accept without knowing more about your situation unfortunately but they may also accept monthly token payments if you're struggling to pay as long as you enclose your income and expenses and continue communicating with them.
If they do not accept your repayment offer (there are lots of templates on how to do this online) then get in touch with a debt charity such as Step Change or national debtline who might help you arrange a more structured debt solution. Keep all your documentation and communication history as well as any proof of mistreatment.
Hope everything goes ok!!Comment
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offer 50% go to 70% if you have to is a start, as Past due do not own debt they are only collectors (hopeful on commissions for any collection) the way it goes for debt collectors they try all sorts to get you to pay , if they fail they pass it back to owners who then usually pass on to solicitors!Originally posted by LizMarkley View Post
debt purchaser are different to collectors as purchaser own the debt and usually pay about 10% for it and hope to gain as much as possible.
but negotiate if you do make sure you get best discount (that you can afford), do not over stretch yourself - and do not forget any cut price before paying get in writing THE BALANCE WRITTEN OFF NO FURTHER ACTION WILL BE TAKEN.Comment
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part settle or even fully satisfied will show on credit file for the 6 years or 5 years scotland, from the date of original entry by owners.Comment
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