Debt Collecting Agencies

[pinkbabytots]

Who regulates debt collecting agencies? I keep on getting letters from differerent debt collecting agents demanding money that I do not owe. I spend loads of time trying to to sort it out, being charged for my calls as they are usually 0845 nos, speaking to people who don't understand English and then they get sold on, so I end up starting again. It's driving me mad!!

What should I do?

[jackthehat]

This happened to me. I rang each of these agencies once to explain that the person/s they were chasing were not me, etc.. (Make a note of the date & time and get a name of who you speak to.)
This did not stop the letters, so I wrote one back to each of them, stating:
" I have already contacted your company by telephone regarding the matter of (the debtors name) on (date) and spoke to (the representative) and I politley explained that I am not the person of interest to you. However, you persist in sending threatening letters to me. I now inform you that each letter I receive from your company after (give a date of, say, 7 days from the date you are writting) will incur a �50 administration charge to cover my time and trouble in dealing with the matter. I shall send you an invoice on the last working day of each month which I expect to be settled 7 days from that date. Failure to pay will attract a penalty levied at the Bank of England base rate plus 2% until such time as your debt to me is discharged."

Now, don't go getting excited about all the money you'll be receiving.............they usually stop sending the letters, instead :o(

[pinkbabytots]

Thanks for that.

I shall definately give that a go.

[themas]

You asked who regulates them. It is the Financial Services Authority. You have to ask the agency for their complaints procedure - they are all supposed to have one & send it to you in writing - & go through that before going to FOS. If they don't have a proper complaints procedure then go to FOS anyway, & complain about the absence of the procedure as well.

[themas]

& it costs them �400 every time a complaint goes to FOS, so if you tell them you are going to do that it just might be enough to stop them harassing you.