These Debt Collection letters are designed to put you under pressure.
Here is a copy of the letter:
Due to: Bradford Exchange Amount Due: £162.42
Account N0: Payment Ref:
Dear Mrs Name
Our client Bradford Exchange has authorised us to recover the full amount due to them.
We regret that if we do not receive this amount within the next seven days or an offer to pay by instalments that we are able to accept, we shall have no alternative but to take action through your local Court to recover the amount due together with court costs and legal fee.
If Court action is taken and Judgement / Decree obtained against you to recover the sum due, we may need to ask the court to make one of the following orders should the debt remain unpaid:-
Warrant of Execution (Exceptional Attachment Order). Seizure and sale of movable non-essential assets / property by a County Court Bailiff or Sheriff Officer Attachment of Earnings base (Earnings Arrestment). Deduction from your wages by your employer or arrestment of part of your salary to satisfy the debt
If you have recently settled this account, please contact us immediately to avoid further action. Otherwise, payment options are set out overleaf or alternatively call us now on 0844 412 0344 to pay or agree a repayment plan with us.
Debt Management Plan for Short Term Solution
If you feel as though you are under extreme pressure, then a quick and easy solution could be to get yourself into a debt management plan. Although debt management plans are not always thought of as a solution, they can help to take away some of the immediate pressure; therefore giving you a chance to think! You can of course put yourself into a DIY Debt Management Plan.
Make a Decision Now to Act Regarding Your Debt
Withe each letter, all the phone calls, that pressure is starting to build and it can be the worst feeling in the world. You can though do something about it. You can seek in dependant help from say, the Citizens Advice, or you can actually tackle this problem yourself. I would though say, beware of the smiling snake oil salesman!! They will give you the usual patter of how they can solve your debt problems. Read through some of the stuff written on this site, visit other sites and forums that have a good reputation. I would say, that the Money Saving Expert site, would be a very good starting point. Do not take your time, but then on the other hand do not rush into a particular debt solution without researching it first.
You may think that you are in debt with no money, but some companies have a great way of earning from your debt problem, so beware.
Write to All Your Creditors
Writing to all your creditors can be a great way of slowly releasing some of the pressure that they are putting onto you. If you write to them, tell them that you are now actively seeking debt help. If you get a call from a creditor, tell them that you have written to them and that you will no longer discuss your debt issue over the phone. Do not lie to your creditors, as this will only give you a short break from their calls and letters.