There’s something for all situations, such as: There are alternative debt solutions available that could help you get out of debt cheaper and/or quicker. You don’t have to agree on a repayment plan directly with your creditor. If you have paid within the time given, no further action will be taken – but you should avoid missing further payments or you will get another letter. These notices can only be sent on credit covered by the Consumer Credit Act, such as credit cards, personal loans and mobile phone contracts. Taken to court and issued with a County Court Judgment (CCJ).Start to be chased by a collection agency.If you do not pay the money owed, the account will default and you may: They will contact you and ask for full payment, giving you at least two weeks to catch up. They typically send the default notice when you have not been paying (in full or in part) for three to six months. What is a default notice?Ī Notice of Default letter is a warning from a creditor that you have missed payments on your credit agreement. We work with The Debt Advice Service who provide information about your options. This isn’t a full fact find, MoneyNerd doesn’t give advice. Debt Relief Orders Explained and 2023 Criteria.Statute-Barred Debt – Time Limits, Your Rights & 2023 Laws.Reducing Your Debt – What Are Your Options? 2023 Guide.Credit Card Debt – Options to Clear Your Debt.Council Tax Debt – New 2022 Laws & Your Rights.
Car Finance Debt – New 2023 Laws & Your Rights.
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