Debt Collection Agencies ~ What power do they have?

spurs501_2 · 2 September 2007 at 5:22PM

Hi.

Because of my current financial situation (see my other thread) a few of my Credit Cards have been handed over to Debt Collection Agencies.

What powers do the DCA's have?

For example, will they accept an offer of payment i.e: An arrangement?
Will they come knocking at my door?

All of these debts are UN Secured, BUT is there anyway they can have a claim on my house.

It's all a bit scary at the moment so any advice / info would be very much appreciated.

Thanks!

davek1 · 2 September 2007 at 5:46PM

None whatsoevre. they can ask you to settle a debt. Only a court or court appointed bailliffs have powers of entry to your home or can order you to pay at a given rate.

They could seek a county court judgement and ask for a forthwith judgement meaning you must pay straight away. if o payment then they could ask the court to apply a charging order on your property. More than likely the court would agree to this and then order you to pay at a given rate. thus turning an unsecured debt into a secured one.

I have a couple of creditors pushing for charging orders

Dave