Debt Collectors

Sidney77

Not sure if im in the right thread here but here goes.

I missed some payments on my credit card bill when abroad. I knew i missed them and was probably going to mis the next few so i emailed them asking about the possibiliies of a payment break. I got no replies and the debt is now with the collectors. I just came home and started working recently so im jus wondering what are they entitled/likely to do.(I know about the whole credit rating thing already.)

rotinaj

There not very likely to do much oyher than send menecing letters. Its to expensive for them to get a court order to remove goods from your house, but I would advise contacting your card issuer to set up some kind of repayment plan.

Doctor DooM

Sidney77 wrote: »

Not sure if im in the right thread here but here goes.

I missed some payments on my credit card bill when abroad. I knew i missed them and was probably going to mis the next few so i emailed them asking about the possibiliies of a payment break. I got no replies and the debt is now with the collectors. I just came home and started working recently so im jus wondering what are they entitled/likely to do.(I know about the whole credit rating thing already.)

My advice would be to call the debt collecting company, explain the situation, make sure to pay it off correctly, then change credit card companies.

Lenny

A family member works for a debt collecting agency. and they're the type of person who will knock on your door.
and yes if you don't pay it goes to the companys solictor who hand delivers a summons to court.
Remember its all in there favour, they're on the winning side(all the debt summarys) and you're made the pay back the debt, and also cover the costs for the court because you're the won who lost the case.

dotsman

d3mon24 wrote: »

There not very likely to do much oyher than send menecing letters. Its to expensive for them to get a court order to remove goods from your house, but I would advise contacting your card issuer to set up some kind of repayment plan.

This is not entirely correct. In many cases the collection agencies will press ahead even if it costs them more than the amount owed.

Why?

To set an example. Otherwise, nobody would bother paying back any small loans/credit card bills etc. This is especially true in today's climate where the number of defaulters is increasing.

OP, the best advice is to contact them. They just want the money back and are not "out to get you". If they are any good at what they do, they will set up a repayment plan with you so that you eventually repay all th money you owe (plus the interest).

Sidney77

thanks for the advise, i intend to pay it and have been in touch with them so trhey at least know my intentions