Blair, Oliver and Scott Debt Collectors – Should You Pay?

Are you worried about a sudden letter from Blair, Oliver, and Scott Debt Collectors? Don’t panic. This article will guide you through every step you need to take.

Every month, over 170,000 people use our website for advice. We understand what you’re going through and want to share useful information to give you a clearer idea of the situation.

In this article, we’ll help you:

• Understand who Blair, Oliver, and Scott Debt Collectors are.
• Find out why they are reaching out to you.
• Learn if the debt they say you owe is really yours.
• Discover ways to manage or even write off some of your debt.
• Find out how to stop them from ruining your life and your credit score.

Our team are experts in dealing with debt collectors. We use facts and data to guide you, not scare you. We understand how you’re feeling right now and want to help ease your concerns. So, let’s explore your options together.

What is the reason for the contact by Blair, Oliver and Scott Debt Collectors?

The debt collection business is huge and highly profitable. Debt collectors like Blair, Oliver and Scott Debt Collectors wear many different hats. Some debt collection agencies work as independent businesses, others operate as a business arm of the original creditor such as a credit card company, bank or similar. There are even some people who operate as individual sole trader debt collectors.

The business model of all these different types of debt collectors is based around buying the debt at a small percentage of its face value, which could be as small as 20% of the face value of the debt. They start to make a profit when they collect payments from you.

Unfortunately, there are not many morals here. it is black and white with them; you ran up the debt and therefore, you have responsibility for repaying it. They don’t particularly care about your personal issues and financial troubles. To put it bluntly, they may are probably not very nice people. The former Office for Fair Trading (OFT, 2010) said that poor practices amongst debt collectors “appear to be widespread”.

Is this really your debt?

What if you don’t recognise the debt? If you are unsure where the debt came from, you should find out where it originated and the total cost of what you owe. It is highly likely that the original debt, if it does belong to you, has been inflated by the charges and interest on top of the debt, and this means it could be much higher than what you owe.

If you want to find out more about the debt and where it came from, you should write to Blair, Oliver and Scott Debt Collectors and ask them for a copy of your original credit agreement. If they say they can’t pay this, or they refuse to do so, you can advise them that you are not making any payments towards the debt.

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Can pay but don’t want to pay?

If you owe the money and you have the finances to pay it back, you should take steps to repay the debt if you can afford it. On the other hand, if you are not in a position to repay it, or if doing so would mean you are unable to take care of your day to day expenses, such as your rent or mortgage, then you should try to make an arrangement to pay it with Blair, Oliver and Scott Debt Collectors. You may be able to give them a partial repayment to close off the debt.

What if you don’t want to pay?

If the debt is yours and you owe them money, it is best to just repay the debt as quickly as possible. Not only will this be better for your credit score, but it will also get them off your back. However, if you are unable to repay the debt, or if doing this would stop you from being able to take care of other essential bills, including your rent or mortgage, then your best bet is to reach a payment arrangement with Blair, Oliver and Scott Debt Collectors. There is also the option of requesting to clear the debt through a partial repayment.

Do you know you can write off your debt?

If you are struggling to pay for your Blair, Oliver and Scott debt or know that you’ll be in financial difficulty if you do, you might want to consider a debt solution.

There are several different debt solutions available in the UK, so I recommend speaking to a debt charity as soon as possible. Their advisors will be able to look at your finances in detail and help you work out which debt solution will work best for you.

I have linked a few charities that offer these advisory services for free below.

Debt Management Plan (DMP)

A DMP is an informal debt solution that lets you pay off your debts via a single monthly payment.

Because it is informal, it is not legally binding so you are not tied into a DMP for a minimum number of payments.

Individual Voluntary Arrangement (IVA)

An IVA is a formal agreement between you and your creditors. You agree to pay a monthly sum that is distributed amongst your debts, and your creditors agree not to contact you during your IVA.

IVAs typically last for 5 or 6 years, and any outstanding debt is wiped off when it ends.

Keep in mind that IVAs are not suitable for everyone. You need to owe several thousand pounds to more than one creditor to be eligible. You also need to demonstrate that you have some disposable income every month.

Trust Deed

IVAs are not available in Scotland. Instead, you will need to opt for a Trust Deed.

Trust Deeds work in the same way as an IVA – you pay an agreed sum each month that is shared amongst your creditors, they can’t contact you, and any leftover debt at the end of your Trust Deed term is written off.

Debt Relief Order (DRO)

A DRO is a good option for those facing financial hardship with no assets and little income.

For 12 months, you make no payments, but your creditors freeze your interest and don’t contact you.

If your finances haven’t improved during this year, you may be able to write off your unsecured debts.

Bankruptcy

If you have debts but no realistic possibility of ever paying them off, you may need to declare bankruptcy.

Bankruptcy has an unfair stigma attached to it as it may be your only way of getting a financial fresh start. That said, it is a serious financial situation that should not be taken lightly.

Sequestration

Sequestration is the Scottish version of bankruptcy.

If you have little income and no valuable assets, you may be able to apply for a minimal asset process bankruptcy (MAP). A MAP is a quicker, cheaper, and more straightforward version of sequestration, so worth considering.

Can I write off my debt without a debt solution?

If you don’t think that a debt solution is right for you – or if you are ineligible for one – what do you do?

From my experience, you might be able to negotiate with Blair, Oliver and Scott Debt Collectors and get an alternative payment plan sorted.c

Negotiation often works in these circumstances for two reasons:

1. Blair, Oliver and Scott didn’t pay 100% of the value of the debt when they bought it – debts are bought for much less than they are worth. This means that Blair, Oliver and Scott don’t need to recover all of your debt to make a profit.
2. Legal action is expensive and can quickly eat into any potential profit that Blair, Oliver and Scott would have made on your case. Getting some money off you is arguably better for them than spending lots of money to compel you to pay.

This all means that you can negotiate a reduced-cost repayment plan, or even lower your outstanding debt balance. I have a free final settlement letter template that you can use if you need some guidance – offering a one-off lump sum could appease Blair, Oliver and Scott so they stop chasing you.

Keep in mind that your credit score might be affected if your settlement offer is accepted. This is because your account will be marked as ‘unsatisfied’ on your credit file which will most likely make you look like a potentially high-risk customer.

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How do I Make a Complaint Against Blair, Oliver, and Scott?

If you think that Blair, Oliver and Scott has been unreasonable or behaved inappropriately, you can make a complaint. You can also make a complaint if you feel that they have broken any of the Financial Conduct Authority’s (FCA) guidelines.

Make your first complaint to Blair, Oliver and Scott so that they have the chance to sort out the issue themselves. If you feel that they have not taken your complaint seriously enough or have not addressed your issue properly, you can escalate matters.

You can make any secondary complaint to the Financial Ombudsman Service (FOS). They will investigate and, if your complaint is upheld, Blair, Oliver and Scott may be fined. You could even be owed compensation.

Blair Oliver and Scott Contact Details:

References

CONC 7.3 Treatment of customers in default or arrears (including repossessions): lenders, owners and debt collectors

CONC 7.9 Contact with customers