Intrum: What is debt collection?

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Many of the people we talk to have experienced life changes, such as bereavement, job loss or illness, that affect their ability to pay. Sometimes money management gets out of hand and we need help getting back on track. We have a long history of meeting people in difficult financial situations and understand that life can get in the way. We help people struggling with daily debt get their finances back on track.

I cannot refund. What will my lender do?

Your lender may choose to work with you on their own to find a solution, or they may refer your account to a specialized collection service provider. There is no need to worry if this is the case. The sole purpose of companies like Intrum is to work with people in debt to resolve their financial difficulties. The important thing is to face the problem and talk to your lender or collection company as soon as possible.

Income and expenditure

The first thing your lender or collection company will do is go over your income and expenses with you to see what’s left after you’ve paid for your essentials. Then you can agree on an affordable and realistic repayment plan, leaving you money to live your daily life and pay off your debt over time. It means you can stop worrying and focus on life.

I can’t pay anything

If you don’t have cash, your lender or collection company may be able to suspend your account until your circumstances change. If things are tough and you need to seek independent debt advice, there are organizations to help you.

I received extra money, can I repay my debt in full?

Things can always change for the better and if you have extra money you can use it to pay off your debt faster. This could be in the form of a lump sum, an increased monthly fee, or certain additional payments.

Should I speak to someone?

At Intrum, we have trained counselors who take an empathetic approach. However, we recognize that some people prefer to use digital options and we may communicate with you on a range of channels, including customer portals which allow you to access your account online, make payments and provide information.

What if I choose not to pay?

If people can afford to pay their bills but refuse, a lender may decide to take legal action to recover their money. That’s why it’s important to make sure you contact your lender or collection company so they know the situation and don’t think you’re ignoring the problem. Then you can agree on a plan and get back on your feet.

Don’t be overwhelmed with debt collection. Talk to your lender or collection company to work out an affordable debt repayment plan.

Disclaimer

Intrum AB published this content on September 16, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on September 16, 2022 11:09:01 AM UTC.


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