Taking loans for an extra bit of financial advantage is a good idea. However, unfortunately sometimes we fall into a pit of non-repayable debts and it can be quite difficult to get over such a situation.
When you are already struggling with your situation, a call from a debt collection agent can aggregate the situation considerably. During such times, it’s very usual to panic or hideout. However, that’s not the solution. Get enlightened on what you could do be doing instead.
Who are the debt collectors?
If one owes some money to the state, like the council tax or the parking contraventions or to a bank, like a loan or a mortgage and has not made his or her payments or the monthly repayment instalments properly, he or she will get several reminder letters for the same.
If they have turned a deaf ear to those reminders, then their accounts will be usually transferred to a debt collection agency. For example, Newlyn is one such accredited debt recovery service that works with and for the government.
Why am I called by a debt recovery agent?
If you have failed to pay few of your monthly payments or if you owe money to the government in the form of a parking fine or any tax and you have either missed or ignored the several warning communications that they have sent you, then you will be called by a debt collection agent.
What should I do when am being called by a debt collection agent?
Whatever be the case or the reason why you are being called by a debt collection agent, the first important thing to remember is that you should do not panic. And the second important thing is that you should not ignore Newlyn debt collectors.
It’s also good to understand the situation correctly and to know your rights with respect to this issue. You should know exactly what you should and should not be saying or doing so that you can avoid any further financial complications or legal violations. Do not hesitate to seek professional advice from https://www.scottishtrustdeed.co.uk/ who can offer deny management solutions and advice.
Important Do’s and Don’ts to keep in mind while you handle dent collection calls.
- Buy time cleverly until you can back yourself up with proper information and the current status.
- Do not panic or lose your temper
- Make sure you keep track of all the calls, timings, duration and the agent’s personal information.
- Do not give away your personal financial information
- Do not acknowledge your debts and make any promises to make any payments
- Know the law and know exactly what a debt collection agent can and cannot do.
While it’s common to take loans for various reasons and we all strive to make our repayments on time, some rather unfavourable situations can put us in a state where we do not get to repay it promptly. However, remember that you deserve your rights and you could get through this situation.