I think it’s fair to say that people react differently to a crisis.
It sometimes may seem easier to bury your head in the sand and hope the problem will go away, but in most cases the problem is likely to get worse, and this is certainly the case with financial troubles.
Unfortunately, creditors will not give up trying just because they aren’t getting a response from a debtor.
What they will do is increase the pressure until they get a response.
There are various ways in which they do this.
Firstly they will write letters asking why they aren’t receiving payments.
Next they start to telephone regularly, badgering the debtor to make payments over the phone with their other credit cards. This is usually because the person who is making the call for the creditor is incentivised to get payments there and then.
The creditors will even call a debtor at work if they have contact numbers, without any regard for the embarrassment this may cause.
Should this action fails to get a satisfactory response, the creditors will pass the debt over to a debt collection agency. These companies can be even more ruthless in their approach to the debtor, and visits to the debtor’s home are not uncommon.
Take this link for advice on dealing with creditor calls
It’s at times like this you need a friend. Someone to fight your corner for you, and be there with you to give you sound advice.
Here at IVA specialists My IVA Adviser, we specialise in assisting people in financial difficulties.
Firstly, we encourage people to explain their situation, without passing judgement on them. Often, this will be the first time a person has actually spoken to anyone about their debt problem and we appreciate that these first steps can be the most difficult to take.
This is why all our specialist debt advisers are carefully selected and trained to the highest standards. They listen carefully to what the client has to say and will endeavour to keep the conversation informal, but informative. After all, having a full picture of the situation is essential for the adviser to ensure the most fitting debt solution is found.
If the preferred solution is an IVA (Individual Voluntary Arrangement), the client would then be invited to make an appointment for an IVA consultation, and it would be during the IVA consultation the IVA preparation process would begin.
If you are not sure whether you qualify for an IVA, then read this article.
If you feel that you would like to talk through your debt problems with one of our specialist debt advisers, then call the debt specialists at My IVA Adviser on 0800 088 7503 anytime to have a chat through your personal circumstances, after all, as the saying goes:
- A friend in need, is a friend indeed.