Debt Collection? No Respect
For as long as anyone can remember, companies who thrive on debt collection and the business therein get NO respect. And for companies and employers who work the debt collection trade or specialize in the commercial debt end of the business, would like you to know that this is not a hobby, folks. They don’t collect old cards or stamps or baseball cards. However, what they do is collect money that you, the debtor, failed to honor in your original agreement; meaning in simple terms, the money you owe the debt collection client.
Drowning In Debt?
If you’re a person who finds it hard to sleep at night fearing the commercial debt collector in the UK you should be happy that your current commercial debt was not back in the year 3000 BC. In those days what may be happening to you now, in terms of avoiding your UK obligation, is peanuts. In those days even in the UK, if your debt owed and not paid, the debtor and his wife and children and even the servants would be forced into “debt slavery” until the debt was paid. And if that wasn’t enough, in the early 1800’s a judgment left unpaid could put you in “debtors prison” in the UK.
That said, rules, laws and statutes of the debt collection game will very from state to state and country to country. For example, in the United States of America, collection laws commercial debtors who believe they are protected by a law passed in 1977 and passed by the Congress that, in essence protects innocent people from being abused and hassled via unfair debt collection practices that the Fair Debt Collection Practice Act does. This does not apply to Commercial Debt Collection but may in the UK.