Debt collection agencies buy up time-barred debts, counting on the naivety of debtors. Some of them pay them for peace of mind, others don't react until the bailiff knocks on the door. How to defend yourself against this? PMR Restructuring Company has prepared a practical guide for consumers.
Debt trafficking is a very profitable business, with debt collection companies buying up time-barred claims for next to nothing and demanding that unsuspecting customers pay the debt in full with interest. It also happens that the claims are unsubstantiated and yet we get a letter demanding payment of a debt we never incurred.
1. not a debtor? Don't throw the letter in the bin
If you have never had contact with the alleged creditor or you are sure that you do not owe them any debt, the natural reflex is to throw the letter in the trash. However, consumer rights experts warn against this.
If it turns out that the signature under the contract does not match that of the debtor, the matter should be reported to the police, as this means that someone has unlawfully used our personal data to make a financial commitment.
2. debts are time-barred
If you were once a customer of a company with which you have an alleged debt, check whether the claim is time-barred. It is often the case that debt collectors want to collect a debt that can no longer legally be asserted in court.
Claims related to the running of a business are subject to a statute of limitations of three years, calculated from the dates on which they fall due (this refers to claims by businesses against their customers). This means, for example, that a claim for payment of a bill issued for telecommunications services (mobile phone or internet) is time-barred 3 years after the due date indicated on that bill.
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17 August 2017:
" Guide: Beware of debt collection companies demanding repayment of old debts
