It is never pleasant to receive letters, or phone calls about outstanding debt, and if you have received contact from Fraser Brown Solicitors debt collection, you may be wondering what you should do.
Fraser Brown Solicitors is a debt management company, who buy debt from other companies. You may not recognise the company, but it doesn’t mean you don’t owe the money.
The debt will be from the original creditor who has given it to Fraser Brown Solicitors to deal with on their behalf.
Complaints to the Financial Ombudsmen have risen this year from 830 to 2,006, so it’s safe to say that you’re not alone.
I’m worried about the debt, what can I do?
If you have received contact from Fraser Brown Solicitors debt collection, you will naturally be a bit worried and concerned. It is important not to panic though, as these situations can be resolved quickly. These are some steps to take if you have received a debt letter from Fraser Brown Solicitors.
- Find out more about the debt
You need to understand what the debt is and whether it is accurate before you arrange to pay it back. You can do this by contacting Fraser Brown Solicitors debt collection and asking them to send you a written statement with all the information you need on it, including where the debt originated and a breakdown of the costs. You may find that there has been extra added as interest, if the debt is quite old. You will be liable for the interest in addition to the value of the original debt.
- Work out your budget
As with any debts, you need to make arrangements to pay the debt Fraser Brown Solicitors debt collection are chasing you for. You should make sure you take care of all your bills first before you start paying your outstanding debt. It is imperative that you are paying your utility and rent/mortgage before you pay your debt. You should work out what you can realistically afford to pay Fraser Brown Solicitors in Nottingham or any other area, and then you can contact them to make arrangements.
- Stick to your payment plan
If you decide to pay back the debt owed to Fraser Brown Solicitors debt collection, make sure you adhere to the payment plan. If you end up missing payments, you will be back to square one and you will end up with the debt collectors on your back again. If, for some reason, you can’t make one of the payments, contact the company, giving them plenty of notice, and let them know when you’ll be able to manage the payment. Most debt collectors will stop contacting you if you let them know the situation. It is counterproductive to just ignore them in these cases. Communication is key.
I Can’t Afford to Pay Them
There are times in most people’s lives when money is tighter than usual, and if you don’t have the money, you don’t have it. It’s as simple as that! If this is the place you find yourself in, you may want to discuss options with Fraser Brown Solicitors debt collection and ask them if you can somehow defer the payment. If this isn’t possible, you may want to try contacting Citizens Advice. They will be able to talk you through all the options you have, and the best thing is that the advice is completely free of charge.
I’m up to my eyes in debt! I’m worried!
If you are worried about your debt problem, you are not alone. Many people find themselves in this situation, and it can be extremely stressful. If you have additional debt to the money you owe to Fraser Brown Solicitors debt collection, there are pro-active steps you can take to deal with your debt problem.
- Check your credit report
As much as it might not make for attractive viewing, it is important that you know the true state of your finances. You can check your credit report via Experian, and find out if there are any discrepancies. If you have fully paid off a debt for example, and it’s still showing on your report, you may want to contact the creditor and ask them to remove the debt. Your finances may not be in a great position, but the credit report will give you a full, detailed report to give you a better understanding of where to begin when dealing with your financial situation.
- Contact creditors
When you have a full list of your creditors, you should contact them to discuss the debt and either pay it off or arrange to make payments. If your financial situation is particularly poor, you may want to even suggest paying £5 a month, until your finances improve. Sometimes companies like Fraser Brown Solicitors in Bingham will be willing to accept any amount, no matter how small it may be. Obviously the more you can pay the better though but paying anything is a step in the right direction.
- Reduce outgoings
If you are experiencing financial difficulties, it is important to look at your budget, and find ways to reduce your outgoings. You may find that you are signed up to subscriptions for services or products you are not using or don’t really need. If you are spending money on a takeaway coffee every day, for example, you could maybe cut this down to one a week and use the savings to pay some of your debt. The best way to save money and reduce your debts, is to have a close look at your outgoings.
- Extra income
Are there any ways you could bring some extra money into your household? For example, a part time job or asking for overtime in your job. The extra income could go towards your debt, so you can get rid of it more quickly.
If you are really worried about debt and being contacted by Fraser Brown Solicitors debt collection, you may want to get in touch with the National Debtline, who will be able to offer you help and advice on managing your finances.