WHAT TO DO IF YOU ARE STRUGGLING TO MAKE PAYMENTS ON A PAYDAY LOAN

As unfortunate as it can be, it isn’t always too easy to keep abreast with the payment which you might have had to make with a payday loan and, if you do not make the repayment on the date that you agreed with a lender, you can find that the amount you owe snowballs in accordance with the high interest rates that are levied by many of these companies.

If you have taken out £750, or if your debt is going to rise to a level which is higher than this because of interest, it can be important for you to be proactive on making an arrangement with paying the debt back. If you do not, you could find that a creditor has the right to give you a ‘statutory demand’, which is usually deemed as the preliminary action before a creditor files for your bankruptcy.

Responsibility can also be worthwhile with your payments because of how bailiffs could be entitled to remove assets from your home if you have not kept up with your financial obligations. However, there are some things which you need to bring into consideration if you are brought into a scenario where you have to deal with them.

To ensure that activity is regulated, all bailiffs have to be certificated, ensuring that everybody who comes into contact with a bailiff is safe and can complain about how they might have been treated. Interestingly, a bailiff can only enter your home against your will if they have been inside your property before with your consent. As such, do be weary of bailiffs who are encouraging you to let them step inside for a moment. This is because after they have been within your property, they could break in if they wanted to and it would be deemed as a legally safe move to make.

You do not have to fill any forms out that a bailiff may provide, and you should seek advice if this is the case. Also, do be weary of bailiffs who might break into additional places of your property such as your shed. Even though some bailiffs can clamp your car, this might not always be the case so do check.

Even though some bailiffs can appear to be intimidating, this is by no means a representative view of the different types of people who work in this sector. If you are harassed in any way by a bailiff, you can have the reassurance that you have the right to complain about how you were treated by the authority which regulates the activity of bailiffs in your area.

Remember that there are always different avenues of advice which you can take if you are unsure about what a bailiff is entitled to do, and what your rights are if you are in such a situation where your assets are being taken away. You might not be in as helpless a situation as you would think.