The word “debt consolidation collection” is not well known. However, when a debt arises, the debt consolidation collection is often the only way out for the creditor. How is the debt consolidation recovery carried out?
debt consolidation collection is a set of legal, processor and factual transactions whose main purpose is to bring the debt consolidationor to the commitment he has incurred.
We distinguish two types of debt consolidation collection:
• amicable – involves informing the debt consolidationor about indebt consolidationedness and inducing him to give back money
• judicial – is conducted after unsuccessful amicable debt consolidation collection and involves entering the legal path in order to obtain a court judgment or order for payment, when it will have an enforcement clause, it will become an enforcement title and may be the basis for transferring the case to the bailiff
It should be in the interest of the debt consolidationor to submit the commitment as soon as possible, still at the amicable stage. That’s when you can still get along with the debt consolidation collection company, for example it is possible to spread the debt consolidation into smaller installments , which will be easier to pay.
If at this stage the debt consolidationor does not show interest in repayment of the obligation, then he will be in a worse situation – during bailiff’s execution, his funds may be taken on the bank account, movable or immovable property. Of course, the amount of debt consolidation will be even higher than before.
How does amicable debt consolidation collection work?
Let’s concentrate mainly on amicable debt consolidation collection, because it is the one that is conducted most often. Statistics show that many debt consolidationors can be persuaded to repay the debt consolidation, taking into account subsequent legal consequences.
The debt consolidation collector, or the person carrying out the debt consolidation collection, has certain rights. He is not a debt consolidation collector, therefore he can not occupy property. He can not intimidate the debt consolidationor, attack him regularly, threaten him or slander him. In this case, the debt consolidationor may himself take the legal path and apply for redress.
Amicable collection usually has the following forms:
• letter retrieval – it consists in sending letters reminding to the debt consolidationor, the letter sets the date of repayment of the obligation, we will also find in it information about what will happen when the debt consolidation is not repaid
• telephone debt consolidation collection – it consists in calling the debt consolidationor and sending him information about the debt consolidation
• personal debt consolidation collection – the debt consolidation collector can also come to the debt consolidationor’s place of residence or place of work to persuade him to repay the debt consolidation
Usually amicable debt consolidation collection lasts several months depending on the debt consolidation collection company .
When the debt consolidationor is not willing to cooperate, he will avoid the debt consolidation collector and will not reply to correspondence, then the case will go to the next level, ie the judicial debt consolidation collection begins.
In conclusion, as a debt consolidationor, we should not lead to debt consolidation collection. It is worth trying to get along with the creditor and give back the debt consolidation before handing the case to debt consolidation collection .
When the debt consolidation collection process has already begun, it is worth considering the debt consolidation and obliging to repay it on terms convenient for us.