Delayed payment and collection - Consumer Agency

You are here: Frontpage › Consumers › Financial › Delayed payment and collection Consumer rights Consequences of payment delays and actions to take Debt collection process and recovery costs The total amount of a bill the payment of which is due and which has not been paid grows constantly because the debtor must compensate any reasonable and necessary costs that the creditor has incurred during the course of debt collection. Generally, the costs accumulate in this order: interest on late payments, which accumulates all the time reminder payments payment request payments court handling fees costs of judicial proceedings enforcement fees Read more Examples of accumulation of recovery costs See how the recovery costs increase the total amount of an unpaid telephone bill or a payday loan. Read more Payment arrangements If you cannot pay by the due date, you can negotiate over a new payment plan – also when the bill has been transferred to a collection agency, taken to court or to be enforced through recovery proceedings. Read more Complaints If you think you have become a target of an unjustified debt collection, you can make a written complaint to the creditor about unclear or unfounded receivables. Read more Payment default entry in credit history Failing to pay a bill or a debt can create a record of non-payment in your credit history and thus complicate your life in many different ways. Read more	Delayed payment and collection Collection costs Examples of accumulation of recovery costs Payment arrangements Complaints regarding debt collection Bad credit record Back to previous level Related topics Credit Money and debt adviser Frequently asked questions How is penalty interest calculated? Related links The Guarantee Foundation Guarantee operations The Legal Register Centre Matters of enforcement and collection
Print 27/03/2013 Bookmark & Share
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