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What to do when you receive a reminder for payment from a debt recovery company

So, you’ve received a letter of reminder for payment from a debt recovery company? In that case you’ve most probably fallen behind in your payments and one or another private individual or this or that company is expecting you to make this or that payment. Read this article and discover how to settle the situation to settle the situation as soon as possible (or not, as the case may be).

 

Receiving a reminder for payment: what to do

 

  1. React promptly

The first piece of advice we can give you is to react as promptly as possible after receiving the letter of reminder for payment. Right away would be best, but, as a rough guide, we would advise you to react within 2 or 3 days at most. That way you show your good will and intentions to your creditor and make life that much easier for all concerned.

 

 

  1. Check that it isn’t a mistake

If you receive a reminder for payment you should always check that it isn’t just a mistake.

Various problems may be involved:

  • you have already paid;
  • the debt has nothing to do with you;
  • you have at some point previously registered a complaint about the quality of the product, service or delivery;
  • there is a simple administrative problem.

 

If you happen to find yourself confronted with a mistake, don’t hesitate to contact the recovery company (or your creditor; but he or she would prefer to have the recovery company handle the matter) to inform them accordingly. The telephone may be the easiest way to clear things up, but it’s always preferable to confirm the conclusions in writing.

 

You may perhaps have already paid the debt. In this particular case you may swiftly close the file by sending to the author of the letter of reminder for payment the following information:

  • the date of payment;
  • the ordering client’s bank account (the one you paid out of);
  • the recipient’s bank account (the one you paid into);
  • the payment reference.

 

 

  1. You are able to pay the debt

After verification you realize that the debt is real and that you are going to have to settle up. Are you in fact able to pay? Our advice is simple: pay immediately. It’s the simplest solution for everyone. Plus being the most correct solution.

 

 

  1. You are unable to pay the debt

If you accept that you must settle the debt mentioned in the letter of reminder for payment but you are not able to pay right away, the best course of action is to contact the debt recovery company or the creditor without delay in order to explain your situation.

With good intention and some realism you should be able to hammer out an alternative solution to the satisfaction of all concerned. Ideally you would first contact the recovery company by telephone and confirm your commitments in writing later.

 

 

What certainly not to do:

 

  1. Do nothing

One thing you should never do under any circumstances is to ignore the letter of reminder for payment. Leaving the debt in the hope it might somehow go away is the worst possible solution for all parties. In point of fact, unless you offer some form of useful response, this letter will be practically systematically followed by other measures on the part of your creditor, which will (most probably) entail an increase of the costs. At the end of the day nobody stands to benefit.

Bear in mind that, whatever the reason preventing you from paying your debt, it’s always best to communicate with the person who sent the letter of reminder for payment.

 

Conclusion

 

What to do when you receive a letter of reminder for payment

  1. React promptly
  2. Check that it isn’t a mistake
  3. Pay immediately if you can
  4. Contact the debt recovery company to find an alternative solution

 

What not to do when you receive a letter of reminder for payment

  1. Do nothing and ignore the letter of reminder for payment

 

What to do when you receive a reminder for payment from a debt recovery company

So, you’ve received a letter of reminder for payment from a debt recovery company? In that case you’ve most probably fallen behind in your payments and one or another private individual or this or that company is expecting you to make this or that payment. Read this article and discover how to settle the situation to settle the situation as soon as possible (or not, as the case may be).

 

Receiving a reminder for payment: what to do

 

  1. React promptly

The first piece of advice we can give you is to react as promptly as possible after receiving the letter of reminder for payment. Right away would be best, but, as a rough guide, we would advise you to react within 2 or 3 days at most. That way you show your good will and intentions to your creditor and make life that much easier for all concerned.

 

 

  1. Check that it isn’t a mistake

If you receive a reminder for payment you should always check that it isn’t just a mistake.

Various problems may be involved:

  • you have already paid;
  • the debt has nothing to do with you;
  • you have at some point previously registered a complaint about the quality of the product, service or delivery;
  • there is a simple administrative problem.

 

If you happen to find yourself confronted with a mistake, don’t hesitate to contact the recovery company (or your creditor; but he or she would prefer to have the recovery company handle the matter) to inform them accordingly. The telephone may be the easiest way to clear things up, but it’s always preferable to confirm the conclusions in writing.

 

You may perhaps have already paid the debt. In this particular case you may swiftly close the file by sending to the author of the letter of reminder for payment the following information:

  • the date of payment;
  • the ordering client’s bank account (the one you paid out of);
  • the recipient’s bank account (the one you paid into);
  • the payment reference.

 

 

  1. You are able to pay the debt

After verification you realize that the debt is real and that you are going to have to settle up. Are you in fact able to pay? Our advice is simple: pay immediately. It’s the simplest solution for everyone. Plus being the most correct solution.

 

 

  1. You are unable to pay the debt

If you accept that you must settle the debt mentioned in the letter of reminder for payment but you are not able to pay right away, the best course of action is to contact the debt recovery company or the creditor without delay in order to explain your situation.

With good intention and some realism you should be able to hammer out an alternative solution to the satisfaction of all concerned. Ideally you would first contact the recovery company by telephone and confirm your commitments in writing later.

 

 

What certainly not to do:

 

  1. Do nothing

One thing you should never do under any circumstances is to ignore the letter of reminder for payment. Leaving the debt in the hope it might somehow go away is the worst possible solution for all parties. In point of fact, unless you offer some form of useful response, this letter will be practically systematically followed by other measures on the part of your creditor, which will (most probably) entail an increase of the costs. At the end of the day nobody stands to benefit.

Bear in mind that, whatever the reason preventing you from paying your debt, it’s always best to communicate with the person who sent the letter of reminder for payment.

 

Conclusion

 

What to do when you receive a letter of reminder for payment

  1. React promptly
  2. Check that it isn’t a mistake
  3. Pay immediately if you can
  4. Contact the debt recovery company to find an alternative solution

 

What not to do when you receive a letter of reminder for payment

  1. Do nothing and ignore the letter of reminder for payment

 

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