Trident Debt Collectors will contact you about outstanding debt, and they may event threaten you to get you to pay up. If you are being hassled by Trident Debt Collectors, this article is for you.
If you are in the situation you are not alone. Complaints to the Financial Ombudsmen have increased this year from 830 to 2,006, so there are plenty of people in the same position as you.
Read on to learn what to do.
Who are Trident Debt Collectors?
Trident Debt Collectors is registered in the UK and his family based business. The company specialides in debt recovery and has more than 50 years’ experience in debt collection. They service clients all over the UK.
What do Trident Debt Collectors want?
If you are being contacted by Trident Debt Collectors, you are probably wondering what they want. As a debt collector, they purchase debt from the original lender, usually for a small fraction of the face value. They will then keep contacting you to collect the money, until the debt is fully paid off.
As Trident Debt Collectors now manage the debt, they have the right to chase you for it. Even if you have never heard of them before, you still have a responsibility to pay the debt, if you owe it.
Is this really your debt?
You might be wondering if this is your debt. Perhaps you think you have already paid the debt off, or you just don’t recognise it at all. It is not unknown for debt collectors to contact the wrong people to chase the debt. If you don’t know the debt, you should ask Trident Debt Collectors to provide you with details, including the original creditor and the total cost, including any interest and fees you have been charged.
Once you have established where the debt has originated, you should ask Trident Debt Collectors for a copy of the original credit agreement. If they tell you they can’t send this to you, or they refuse to send it, you have no obligation to pay the debt. In fact, in this case, you might even be entitled to a refund. You can request a refund from Trident Debt Collectors.
What to do if the debt is legitimate?
If you find out that the debt is legitimate, you must repay it. The best course of action is to repay the full amount as quickly as possible. However, this may not be possible. If you can’t make full payment, ask Trident Debt Collectors to set up a repayment plan which suits your budget. They may also consider accepting a partial payment to close the account.
Are Trident Debt Collectors trying to ruin my life?
Unfortunately, there are many debt collectors who do not adhere to the regulations, and employ tactics which are unacceptable. In some cases, debt collectors will bully, apply unnecessary pressure or make excessive phone calls to try and get the money.
In some cases, those who are being chased by debt collectors have even reported to have sleepless night after speaking to them. In some cases, they are even afraid to open their own front door or answer the phone. Debt support trust have even said that there are as many as 50% of people in the UK, who have struggled so bad with debt, that they have considered suicide. This is a shocking statistic, especially when you consider that debt collectors have made the issues worse.
Debt collectors and regulations
There are a range of debt collection agencies and unfortunately, many of them use hard tactics to try and get the payments in. This is why the Office for Fair Trading had to set some guidelines, which debt collection agencies are legally required to follow. These rules apply to Trident Debt Collectors, as well as all others.
The legislation states that Trident Debt Collectors should:
- Treat debtors fairly, without using underhand practices, such as aggression or deceit. They must always be honest with debtors.
- Always ensure they provide clear information which is clear and concise.
- Show consideration towards debtors, and empathy towards their situation.
- Take the debtors into consideration when determining the appropriate action to take when recovering the money.
Are you dealing with Trident Debt Collectors? Are they failing to abide by the regulations published by the Office for Fair Trading? If yes, you have the right to report them to the OFT, who will take the matter further. In some cases, they have been known to remove their licenses.
What you need to know about Trident Debt Collectors
In order to be able to deal with Trident Debt Collectors appropriately, you need to know more about them and how they operate. The more you know, the better equipped you will be to stand up to them and defend yourself, if need be. These are some points to remember about Trident Debt Collectors.
They receive bonuses
Most debt collectors will be paid a bonus, depending on how much money they bring in. The agent who call you up to speak about your debt, will have targets they need to reach, based on how much they bring in on a daily, weekly and monthly basis. This is why they may be so persistent when trying to recover the money, as otherwise they won’t make bonus, and will probably find themselves being asked some questions by their bosses!
They often use automated calls
It can feel tempting to just ignore calls from debt collectors, after all, they are just trying to get on your nerves! Ignoring them won’t make the problem go away, in fact, it will make it more difficult to get your finances in order. In some cases, debt collection agencies will actually use automated technology to get you to answer. This means they will just keep calling you until you finally answer. If you do answer, you may find that there is no answer, as you are on an automated call.
You should take note of how often these calls are made, as if they call you too often, it could be a breach of the Office of Fair Training guidelines. You should track the amount of calls they make, if it is more than one a day, you could say this is incessant.
Change in attitude
Some tactics which are employed by debt collectors include a ‘bad cop, good cop’ attitude, and quite often this even works. This means that you make speak to a debt collector and the person you speak to might not show any empathy towards your situation. As far as they are concerned, you owe the money, and you should be paying it back. You might speak to them on another occasion and they are friendly and polite to you, which can completely throw you off the track. The approach is used so that you end up getting frustrated enough to just make the payment. It can be difficult to stand up to this behaviour, but you can do it.
Speaking to someone else about your debt
Another tactic which is quite often used is when debt collectors speak to other people about your debt. It may be that a family member answers the phone, and they tell them about the debt, or they try to reach you at work, and end up speaking to a colleague. This breaches the laws devised by the OFT, as well as privacy laws.
Lies and Deceit
Unfortunately, there are debt collection agencies who think the law doesn’t exist for them, and they can ignore the regulations as and when they feel like it. This means that they might end up adopting some less than favourable tactics to get the repayments. These may include acts of lies and deceit, such as pretending to be from court, or saying that they will come to your home to take your possessions. The lies and deceit are not allowed, and they should not be doing this.
You should not feel like you are under threat in your own home, and if you do feel this way, you can contact the police, who will take charge of the situation.
Is it possible to get debt written off?
Individual Voluntary Agreements or IVAs can be used if you wish to write off your debt. An IVA is a formal agreement you reach where you pay a specific amount to the debt collectors, usually in monthly payments, and the rest is written off.
Debt collectors have specific guidelines and regulations they need to adhere to, but unfortunately, many fail to do this, despite the warnings they have had from professional bodies. If you feel that any debt collectors have been treating you unfairly, harassing or threatening you, you can contact the Financial Ombudsman, who will deal with the situation on your behalf.