No one likes to be chased for outstanding debt, but many of us have experienced this at one time or another.
If you have been contacted about Jigsaw Law debt, you might be confused about what to do and may be worried about debt collectors turning up at your door.
If you have received a letter, email, or phone call from Jigsaw Law Ltd, this is some advice on what to do.
Who is Jigsaw Law?
As a debt collection agency, Jigsaw Law have the right to contact and chase you about outstanding debt. They will be acting on behalf of another company, so although they may not be the original company you owe the money to, they have the right to contact you about the debt. If you receive any correspondence from Jigsaw Law Ltd about your debt, these are the steps to take.
Check the details
The first thing you need to do is check the details for the debt you are being chased for. Is it debt you recognise, or have you never seen it before? If you don’t recognise the debt, you will either need to contact Jigsaw Law Ltd to discuss it or the original creditor. If you do recognise it, but you are unsure whether the value of it is correct, it is worth asking for a written statement, including any charges which have been applied to the account. Make sure all the information about the debt is correct before you make any arrangements to pay it back.
Clear the Debt
Obviously, the best course of action would be to take care of the debt by paying it off immediately, but this isn’t always possible. You may be able to get a discount on your Jigsaw Law debt, but this will show up on your credit report as ‘partial payment’, which means anyone checking your credit report will see that you didn’t make the full payment. This obviously isn’t very attractive to someone considering offering you credit, as it shows you can’t really afford to pay your debt back. However, it will get rid of the debt, without you having to pay the full amount.
Pay in Instalments
The other, and often more favourable option, is to pay your debt back in instalments. Most debt companies such as Jigsaw Law will be willing to accept a payment plan if you stick to it. If you are really struggling and can only afford a small payment, it is still worth doing this, as they won’t keep contacting you if you are making payments. The smaller the payment, the longer it will take to clear the debt though.
Can Jigsaw Law Enter my Premises?
No. Jigsaw Law have no right to enter your premises. If they suggest doing this, you can speak to the Financial Conduct Authority to get some advice. They are not allowed to enter your premises, or remove any goods from your home, so don’t allow them to do this, under any circumstances.
Could I Not Just Ignore Jigsaw Law Ltd?
As tempting as it may be to stuff the letters in the bin, or to just cancel the calls, it is unlikely they will get fed up and go away. Jigsaw Law will have bought the debt from another company, so if they don’t get any payments from you, they will have lost money. That is why debt collection companies are so persistent and will track you down at any expense! It is much better (for your own sanity, if nothing else), if you just speak to them and explain your situation. Even if you can only pay a little, or you need to defer it until pay day, they will leave you in peace if they have some contact with you.
What is the Best Way to Manage my Debt?
Having debt hanging over your head can be extremely stressful, especially if you feel like you are spending much of your time trying to avoid debt collectors, such as Jigsaw Law. Debt doesn’t just disappear though, and the longer it remains, the worse your credit score will get, which will make it more difficult to get credit in the future. The main thing is not to ignore your debt, as this is the most dangerous course of action.
Check your Credit Report
It is important to get an overall view of your credit report, so you understand which creditors you owe money too, how much you owe and to make any amendments, if any details are incorrect. There are different companies you can use to check your credit report for free, including Equifax. If anything is wrong on your report, you should contact the creditor and ask them to update your details.
Make a Budget Plan
To be able to pay off your debt, you need to understand your budget, and where you can make some changes to have extra money. For example, you may be spending money on luxuries you don’t really need, such as daily coffees, and you could be putting that money towards your debt. Plan your budget, work out what you have left over, so you can start making payments to your debts.
The next step is to contact creditors such as Jigsaw Law and set up payment plans or pay the balance in full. If you are experiencing particular hardships with your finances, you may be able to get some free help from the Citizens Advice. If you do set up a payment plan, you should do your best to adhere to this. If you can’t make a payment for any reason, you should contact the creditor as soon as possible before the payment is due to inform them and to change the payment date.
Debt problems can be worrying, but if you have received contact from any debt collectors, including Jigsaw Law, you should take steps to deal with it immediately. The sooner the issue is dealt with, the better you will feel and the less burden you’ll have on your shoulders.