Debt collection agencies need to stick to much more stringent rules from April that are meant to ensure that there are fewer debt issues, according to the Inspection of Justice and Safety. For example, a new law will ban debt collection agencies from putting people under pressure. The agencies are also required to register in a public register.

Existing companies have a year to sign up for the register, and new companies must do it immediately. The law will also ensure stricter demands of professional competence in debt collection agencies regarding how they deal with debtors and the information they provide. In addition, only certified bailiffs are allowed to threaten with a summons, which is a call to appear in front of a judge. Other debt collection services are not qualified to do this, according to the inspection.

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Pass this podcast along to anyone you think may need to hear my words. Try not to be a gate keeper.
Thanks

If you would like a One on One session with me!
Visit me at:
www.gbroanejr.org
www.gbroanejrfinancial.org

Email me at:
garyb@gbroanejrfinancial.org

Slogan: Stop Chasing a Credit Score! Build your Credit Profile.

Experian credit reports as well as those from lesser-known credit bureaus may also contain a “Personal Statement” section, which allows you to explain any derogatory information contained in your file. This will likely have little or no impact on your overall credit standing or the decisions made by creditors and lenders, but it can’t hurt to provide a rationale.

Pass this podcast along to anyone you think may need to hear my words. Try not to be a gate keeper.
Thanks

If you would like a One on One session with me!
Visit me at:
www.gbroanejr.org
www.gbroanejrfinancial.org

Email me at:
garyb@gbroanejrfinancial.org

Slogan: Stop Chasing a Credit Score! Build your Credit Profile.