Financial Conduct and Integrity

The way that Wonga and the leading clearing banks have demand letters sent out is summarised in an excellent article in the Law Society Gazette on 7 July by Elle McDonald

What does not emerge is that there was no compulsion whatsoever to go to the trouble and expense of instructing a solicitor for such demands. On the contrary some of the “factory” operations that churn out these obviously mass produced demands, just get ignored or put “under the clock” by the debtor.

It is not who writes the letter, but what it says. A simple demand to pay in the seven days is often ignored. A targeted focused response with knowledge of the facts, pointing out that the debtor has mislead the lender, if that is true, and is often is, is a different ball game altogether, and gets the debtor’s attention.

Have a look at www.hylton-potts.com

We would be interested in your comments, please leave them by clicking on the title to this blog above