If we’re honest, most of us at least once in our lifetime have deliberately not answered a call from a creditor, or someone or institution we owe money too.

I know I’ve certainly been there, and more than once..

My behaviour has since changed though, because I learned the hard way!

Most creditors will try a few times to get hold of you, and after unsuccessful attempts, they will proceed with legal action.

This means that they will proceed to hand your account over for legal action, and you will be served with a section 129 document, which is basically a letter of demand for the full outstanding amount. Incuding the legal fees.

They will require the full amount to be settled, however, you can pay the amount off. The problem is that this will reflect on your credit profile, and will not make you eligible for credit, until that amount is settled in full.

All of this could have been avoided if you answered the call and explained your situation, whatever it may, or may have been.

This is why I can’t stress enough the importance of being proactive when it comes to your debt, and when you’re heading into trouble.

Siimply pick up the phone and inform your creditors of your situation. As I’ve said before, they’re a lot more lenient and understanding than you think.

To your financial independence..

Regards

André Misrole