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What Happens If I Ignore My Debts?

Most of the people who seek our advice have tried avoiding their debts and creditors before they decide to contact us. The study implies that it takes a year or more for our clients to consider the necessary steps in dealing with their debt problems.

It can be difficult for a person to receive phone calls or entertain creditors’ letters or emails, especially during unfortunate times. If you are struggling to cope up with your debts, it must have been suffocating getting notices or reminders from your creditors. When this happens you might end up ignoring them as a way to get away with the chaotic world that you live in. While this might work for now, the outcome makes the situation worst. This can be harder to deal with if you keep ignoring your creditors and avoiding your debts.

The Consequences Of Ignoring Letters or Emails From Creditors

If you have a debt obligation, you have to make sure that you are compliant to the letter or emails from your creditors.

You might think that one demand letter is tolerable. However, the more they get piled up, the more difficult for you to deal with it. You have to ensure that you read the letter as it arrives and keeps pertinent documents such as the following:

  • Default notices
  • Letter updating the status of your debt as it is forwarded to a debt collection agency
  • CCJ or Court Order or Action

These letters have a set deadline for you to comply and come up with a response. Ignoring these letters is not a good idea. The best thing to do is working with your creditors to set arrangements on how you can reduced debt payments.

Besides, you have to ensure that your creditors know your current address. Though it’s tempting not to give your address to your creditors when you moved to another location, the consequences at stake are too much to bear. You must keep yourself posted with these letters or notices to prevent further harm as you deal with your debts.

The Consequences Of Ignoring Creditors’ Phone Calls

Some people find it better to deal with creditors over the phone. However, this can be stressful for most even if you can’t get into trouble and your creditor cannot oblige you to deal with them over the phone. If you are doing this, the more it’s important to read creditors’ emails or letters on time. You might also check on the guide about phone calls from creditors for further advice and tips.

How Can We Help?

We provide free and unbiased debt advice to help you deal with your debts. You don’t have to ignore your creditors, we will be happy to assist you with your concern despite the circumstances. Once you contact us, reaching out to your creditor will be a lot easier for you.