Useful Tips |
Debt Management Companies: Are they Right for you?
• In the current economic climate, more and more people are finding themselves in debt and are turning to Debt Management Companies to help them out.
Typically, Debt Management Companies will ask you to complete an application from along with a questionnaire. Depending on your responses, they will suggest a Debt Management Plan that is suitable for you.
Free Credit Control Resources: Google
• You’ve no doubt heard the saying “You can run, but you can’t hide” This saying is more true today in credit control & debt collection terms than it has ever been.
I will give you 2 recent examples that I have personally experienced that will reinforce how great Google is as a free credit control/debt collection resource.
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County Court Proceedings Service
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The “No frills” county court service is a part of the professional credit control services we offer in the UK. Along with providing free tips about the credit management problem, our experts will issue a County Court claim against your debtor in your name using The Court Services Moneyclaim online service. We will monitor the progress of your claim on-line providing you with logon details so that you are also able to monitor the claim yourself.
We will charge you the sum of £50+VAT for issuing the claim on your behalf. In addition to this, you will also need to pay court costs. The court costs vary according to the value of your claim. Were you to instruct solicitors to issue a county court claim, their charge for doing this will be in the region of £100.00 to £150.00.
Our philosophy is to provide good value for money services to our clients, which, is why it makes sense to allow us to do the legwork and issue the county court claim on your behalf. If the debtor puts in a defence to your claim, we will recommend that you instruct expert solicitors to act on your behalf should you decide to put in a reply to defence.
In most cases, we will obtain judgement against your debtor by default. This means that although your debtor has received your claim (Summons) they have chosen either not to respond, or to simply ignore it. If your debtor does not respond to your claim within 14 days of receipt, we are able to enter judgement against them.
After a CCJ has been entered, we are able to instruct County Court bailiffs to attend with a view to collecting monies owed to you, or repossessing goods up to the value of the debt.
If the debt is over £600.00, we recommend transferring your case to The High Court for a High Court Enforcement Office (Private Bailiff) to collect your debt. Their success rate of collection is far higher than that of a county court bailiff, purely because, if they don’t collect your money, they do not get paid. For further information on this enforcement method, please click here
There are also other various enforcement methods available.
For further information on our credit services or to get a free credit control advice, please contact us by telephone, or by using our on-line query form and we will do our best to help you.
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