Factoring Nachteile: When a person's inability or unwillingness repay a debt then it will be resulting in legal action by taking against that person by the lender, the process can be long and arduous. Essentially, for those unscrupulous debtors they will be deliberately dodge and avoid their repayment obligations, by changing addresses, names, phone numbers or even leaving the country, this system allows plenty of opportunity to plan their escape. It is a legal necessity that the creditor will properly executes their "process serving" action. This is not senseless and it is possible that the debtor will be unaware that they owe anything, or are not fully aware of the stage or implication of the situation that they are in thanks to the lack of mandatory financial education in the British curriculum, many people simply do not pay that much attention to their finances, to their detriment of course.
The process server must issue a legal notice to the debtor that court proceedings are due to begin, to give the debtor sufficient time to respond and react. The debt recovery process will stops here and a campaign of letter writing and protracted phone calls is sufficient to extract from a wayward borrower, the repayments that are due. This element of the process is integral to the smooth resolution of many debt cases. For the aforementioned unscrupulous debtor, the service of process will merely heads up a cue to become slippery and attempt to avoid payment. In these cases, more aggressive actions are warranted.
Unfortunately, the scary, intimidating stereotypes held by the public towards the debt collection industry are based on practices adopted only towards the most extreme cases, which will be generalised by the media and word of mouth to be mistakenly applied to the average case of debt collection. In real, these cases will occur as described before which will be largely without event. In many cases, the language "aggressive action" will give an overtly sinister connotation to behaviour which essentially amounts to the company being persistent - their actual action can go no further than issuing legal documentation and serving continual reminders to try and prompt the debtor to settle the money they owe.
Unfortunately, the scary, intimidating stereotypes held by the public towards the debt collection industry are based on practices adopted only towards the most extreme cases, which will be generalised by the media and word of mouth to be mistakenly applied to the average case of debt collection. In real, these cases will occur as described before which will be largely without event. In many cases, the language "aggressive action" will give an overtly sinister connotation to behaviour which essentially amounts to the company being persistent - their actual action can go no further than issuing legal documentation and serving continual reminders to try and prompt the debtor to settle the money they owe.
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