The word Bailiff has long been one which has struck fear into people’s hearts.
And a certain amount of loathing, it must be admitted.
Why so? For the simple reason that the idea of someone being allowed to enter another’s property and confiscate possessions is not one which sits comfortably with most people in the UK.
And the ultimate act of confiscation – repossession is the noun where property is involved – is a dreadful thought in many people’s minds. So what is the process of confiscation in cases of property debt? How exactly is it enforced? By whom? And do the same rules apply across the UK? Those are good questions. But if you even find yourself asking them, you probably need help pretty urgently.
Different creditors operate in different ways when it comes to attempting to collect unpaid debt. Initially creditors will issue reminders in the form of written correspondence and/or phone calls. They may even inquire as to any changes in your circumstances which are making it difficult for you to meet your obligations. But the bottom line is they want their money.
So they will ask you to make any outstanding repayments. So far, nothing too heavy-handed. But if you are unable to do this, they will begin to apply a little more pressure by threatening legal action. Where your account is regulated by the Consumer Credit Act, you can expect a default notice after missing three or four payments. And unless you manage to make repayments at that stage, your account will default.
Missed payments are entered on your credit file. And the immediate effect of defaulting is that it instantly becomes very much more difficult, if not wholly impossible, for you to get credit elsewhere.
Now your creditor is likely to pass your debts to a collection agency, so you can expect a deluge of communiqués from these newcomers. By now it is probable that you will also have defaulted on regulated debts – overdrafts, credit cards, store cards, personal loans, payday loans or hire purchase agreements.
If so, it is likely that a specialist debt collection agency will be called in. When that happens, they can be expected to take your case to court, there to apply for a County Court Judgement (CCJ) against you.
Property debt is a particularly threatening scenario in that, ultimately, it could result in you losing your home.
There is no need to let things reach that stage. There are experts who will intervene, act on your behalf and fight your corner, thereby ensuring that the figurative wolf at your door does not manage to get up your metaphoric hall.
Negative Equity UK – experts and market-leaders in such matters with offices in Manchester and Newcastle - will negotiate for you. As specialists in property debt and cases of mortgage arrears, they excel in acting for those in trouble.
And be encouraged by the fact that banks and building societies would much prefer to deal with a company of Negative Equity UK’s standing than evict you. Eviction is their worst-case scenario as well as yours. So take heart.
Negative Equity UK have a formidable record as negotiators, regularly achieving property debt forgiveness and write-off resolutions of up to 90%.
As for those bailiffs, their introduction tends to be a last resort on the part of banks and building societies, for as well as being a costly process repossession is bad PR. We don’t like to see men, women and children being evicted. Negative Equity UK don’t like it, either, which is why they major in stopping it. To increase their prospects of doing so, however, contact them as soon as possible rather than waiting until the bailiffs are knocking on your door.
If the debtor cannot pay that, and fails to offer an alternative format with which the creditor is satisfied, those to whom the money is owed can apply to the Enforcement of Judgement Office(EJO) to have it collected. The EJO has a variety of means of enforcing this. None, however, involve the deployment of bailiffs.
It need never come to that, of course; that can be avoided.
So if you have property debt, get Negative Equity UK on your side and let them negotiate a solution to your problem.