Chased by CRS for debt, do not pay them, read this

If CRS are chasing you, then you are already being hassled by letter on the phone and maybe receiving unwanted calls at work. The tactics they use daily to chase that debt you owe are borderline stalking and cause untold stress. So this blog is going to unravel their business and give you the tools and tactics to fight them back and beat them.

A simple fact in today’s climate, debt collectors have got a lot more aggressive and in many documented cases, clearly breached the law in bullying and pressurising the vulnerable. Now we are in lockdown, the debt collectors will ramp up their efforts to chase consumers.

Who are CRS

One of the largest debt collection companies in the UK they work with banks, mobile companies and credit providers. So if you owed £4000 on a credit card, they will purchase it for around £400. CRS will then ask you for the full amount and add on monthly fees/charges if not paid back. An original debt of £4000 can soon become £8000 in no time at all.

As recent events have happened, with debts mounting and jobs massively affected. Unfortunately, job losses and recession fears, are the exact time debt collection companies have traditionally made the most money. So do not sit there and be bullied by a company that bought your debt for 10% and added 90% pure profit on top. Fight them legally and beat them.

Get rid of CRS before the end of the month

This company in particular, never gives up chasing you for the debt. Calling mobile, sending letters, contacting your work, their new tactic is tracing you on social media and messaging friends/family to embarrass you into paying. So beat them at their own game, I’ll share with you a company I used when in debt, that hates these companies as much as me, but more importantly can get rid of this debt for you before the end of the month. Check them out here

Offer them what they paid by way of letter and negotiation. Look at this way, you owed £4000 , didn’t pay, it got sold to CRS , so you offer them what they paid and you save £3600.Then we need to send a letter saying we have been laid off at work, are waiting for benefits and can offer £xxxx only, as full and final settlement of the debt.

 

CRS Debt Strategies and how they chase you

OK, let’s start from the beginning. By taking their business to pieces, you will see that hiding behind the mask of fear and bullying, it is in fact YOU that is control, not them.

  • DCA’s are a business, 99% are not here to help you or listen to your problems. Dog died, car on fire, lost your wallet? They don’t care….Imagine a room with 100 people sitting at individual desks, with headsets on. These sales people are paid a bonus in accordance to how much they can get you to pay off the debt.
  • The staff at these call centres have morning meetings before they begin. Here, they are given tactics on how to get you to pay e.g. ‘ …tell them we have their neighbours’/bosses number and we will ask them for the money’….or…’if you don’t pay today, we will make arrangements to have your parents’ car taken away and sold off to pay off the debt’. The bosses at these companies tell the staff how much money they expect each of them to collect by the end of the day. When these people call you, talking/negotiating with them is as effective as double sided playing card
  • Where do PastDue Credit Solutions get the debts?…..they buy them, and in bulk . They have sales guys that target banks, institutions, mobile phone operators and buy a large collection of these debts for a % of the debt. What does this mean?….Let’s say your debt from Bank ‘A’ is an old credit card and was for £1678…….usually the DCA buys it for 10-20% of original value. However they will demand full amount, plus, their own charges on top. So they pay around £300 and try and get over £2000 off you, and over a fixed agreed time, you can begin to see why they make so much money and don’t care about personal circumstances.

Get rid of CRS before the end of the month

This company in particular, never gives up chasing you for the debt. Calling mobile, sending letters, contacting your work, their new tactic is tracing you on social media and messaging friends/family to embarrass you into paying. So beat them at their own game, I’ll share with you a company I used when in debt, that hates these companies as much as me, but more importantly can get rid of this debt for you before the end of the month. Check them out here

 

CRS round 2

I will follow up this blog with a second wave of strategies to adopt in fighting them. So check back next month and list some more tactics for you. Remember, they have no real legal power, your pet dog has more legal power!