Dealing With Debt and Threats: What You Should Know

A majority of people around the world are in debt right now. Whether it’s mortgage or student loans, many people take loans in order to improve their standard of living.

Statistics show that among 25 to 34 year olds living in the U.K., 19 percent had zero savings. The report also shows that the younger generation (baby boomers) is more likely to be in debt.

Dealing with debt can be frustrating and stressful, especially when you have creditors calling you every week. But when the calls become more frequent and creditors start threatening you, know that you don’t have to be scared. You don’t have to put up with aggressive behaviour.

Here’s what you need to know when dealing with aggressive creditors:

According to Law, They Cannot Enter Your Home

In the U.K., creditors are NOT allowed to enter your home UNLESS you invite them. This means that they cannot push their way past you or threaten to break your possessions.

If a creditor has forced their way into your home or broken in, you have every right to report them to the police.

It’s best to write a complaint or send an email. Writing your complaint will act as proof when needed.

When writing your complaint, make sure to:

• Express how you feel
• Highlight what your creditor has done wrong
• Tell them how they can fix the problem
• Ask for their reply in written form
• Ask for a copy of their reply

You Need to Communicate With Your Debtor

It’s understandable that you’re worried and scared. But you need to communicate with them. Whether it’s by phone or email, it’s your choice. It’s recommended, however, that you communicate via writing.

This will act as proof of the communication having taken place, unless you can record the calls. Make sure to ask them what they want, what their expectations are and how much you owe.

Make sure to get your agreement in writing and ensure that you have a copy of the agreement.

In Case You CAN Pay…

If the debt isn’t too much for you to pay then you need to clear it as soon as possible. This can be in one go or on a monthly basis. You need to communicate this with your creditor.

In Case You CAN’T Pay…

If you have a significant amount of debt and can’t afford to pay immediately, you need to come to an agreement with your creditor.

See if you can negotiate with them to reduce the amount or if you can pay a nominal fee every month.

Whatever decision both parties agree to, don’t forget to draw up a contract and consult a solicitor.

Wembley Solicitors is a trusted name in the field, and offers their team of experts to help potential clients with their legal claims and disputes.

Contact us now by email or call 020 3417 3700 and provide us with the details of your case.