How to Dismiss Debt?

Jul 5th, 2015 | By | Category: Debt Dismissal

How to Dismiss Debt?

A very serious issue that a person might have to tackle at times is to get out of debt. Most of the time it includes debt collection agency which is widely known as debt collectors who pursue to get the debts owned by various individuals or business. These agencies get a fee or rather a percentage from the total debt they recover from the individual.

Debt recovery plus

Established in February 2009, the Debt Recovery Plus is a leading and respected agency which offers debt collection rates for all sectors of business. The agency is a provider of services in debt recovery to the various private parking industries in the UK along with collecting commercial rent. Debts from Premier League football clubs, nationwide solicitors, major financial institutions, housing associations etc are also collected.

Statute of limitations

I myself have faced this situation in life when debt seems never ending. I used to think about the day when I would be free and then I came to know that every debt had an expiration date and this is known as statute of limitations. It is a set of rules that sets a time limit, it is this time limit under which the person can file a suit against the other party if failed in repaying the debt. The statute of limitations was created in order to protect people from getting sued after an unreasonable amount of time.

Moorcroft debt recovery

Began in 1985 Moorcroft debt agency is a professional, efficient and effective solution for debt recovery. It’s office is situated in Stockport. The agency is authorized and regulated by the Financial Conduct Authority for Accounts formed under the Consumer Credit Act 1974. The agency has expanded and now claims to have over 1 million accounts and various partnerships clients.

Debt dismissal

While settlement is one option but dismissal of debt means that the debt does not have to be entirety. The two types of debt dismissal are-with or without prejudice. Without prejudice the debt collector can sue you while with prejudice the debt collector has no other option but to sue you only for remainder of debt.

Debt lawyer

A person with absolute knowledge and skills to help someone having financial troubles related to debt is a debt lawyer. They can act as a negotiator while dealing such issues by working with creditors, lawsuits etc when they are unable to pay their debt/bills.

Commercial debt recovery

While recovering your debt take a diplomatic yet a firm approach. Resolve the issues with your customer in order to reach an agreement, try explaining them the various steps you might take if there is a legal action involved. Remember there might be occasions when the person might not be able to pay the whole amount, in that case agree on part payments which suits him as well as you. You do not want to loose customers hence try reaching an agreement as everybody wants to avoid arguments or legal actions and then running year after year in courtrooms.

 

 

 

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