Voluntary Administration Info

[Couple It]

Have sent you a PM

Wendy

[themot]

Originally Posted by AgentMail

My issue is what exactly will a debt collector do that I can't.

Simply put, the letter they get from a debt collector or solicitor will often scare them into paying you. Reason being, if he's not in VA already like you say by people persuing them for outstanding debts they will be placed into administration by the party persuing them. Then they're F%cked.

Squeeky wheel gets the grease, that's why you do it.

[AgentMail]

I just thought I would provide a brief update on the situation, for anyone considering the debt collector route.

So after deciding to pass the debt over, the first thing I had to do was pay $55 for them to conduct a business search to verify the business owner (It was a trust trading as situation).

After hearing nothing from the debt collectors, I then had to chase them, to find out they had not even managed to get in contact with the business owner, and had sent a letter of demand to a PO Box. It took 2 seconds for me to find his current contact details on the internet, so that was a bit frustrating.

Long story short, they have heard nothing from him, are about to send the notice of intention to sue and have pretty much done nothing else. Oh and if I want to pursue the debt through court, it will cost a minimum of $850.... For a $1,200 debt.

I know that the business owner is playing the game, and knows that eventually I will have no choice but to walk away, which is the most frustrating thing.

So, from my first and only experience, the debt collection process has done nothing more than sent a letter with an empty threat and tried to make a couple of phone calls - which was my exact concern from the outset.

I am now going to hand this over to the Karma gods, which I am sure will do a proper job of re-adjusting the balance (they have already started by keeping me busy with new clients )