Personal Debt Collection Tips
Personal Debt Collection
If somebody owes you money personally, you may find yourself requiring the services of a personal debt collection agency. If you have loaned money to others and they promised to pay, you will naturally want paying back. Naturally assuming that they have failed to stick to any proposed payment schedule, take these following steps to start collecting the cash you’re owed:
People who owe you money will likely have broken an initial promise to pay. They have crossed a boundary and demonstrated a lack of respect and courtesy towards you. The fact is that you have acted in good faith and now they are been taken advantage of. Does this sound familiar?
It is never advisable to take the law into your own hands or to become aggressive. Personal Debt Collection is emotive exercise and needs to be conducted with caution. Any inappropriate actions can make any future relations untenable or even worse, see a criminal complaint made. Some unscrupulous people can use this as a shield against paying their dues as happens very often.
- Polite reminder
Politely remind the person that owes you money. You should be particular about the dates and amounts they agreed to and their obligation to you. Ask if there has been come confusion over dates, amounts or promises.
- Send a Letter
Draft a letter recounting the particulars relating to the debt owing and the cash sum due. To ensure delivery, you can either hand serve it or send it via recorded delivery, a service the Royal Mail provides. The letter should include the terms of repayment originally made.
- Make a phone call or send a text
In addition to sending a letter, you could also try to engage with them directly by calling them on the telephone or sending them a SMS text message. Again this should alert them of their financial obligations to you.
- If reasonable efforts are ignored, speak to a Professional
Should all reasonable efforts at dialogue not make any headway into resolving the issue, speak to an Expert. A specialist Personal Debt Collection Agency such as Frontline Collections can assist you with progressing the matter forward. In most cases, the intervention of a Professional Debt Collection Firm will trigger a reaction and help expedite a resolution.
Personal and Business Debt Collection in the UK is now more complex than ever and it will mitigate your liability to speak to a dedicated Professional today. Ignorance is not an excuse in the eyes of the law so it is always better to use a service from accredited debt collection experts.