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Shoosmiths are specialists in commercial debt collection for businesses in the UK, with experience in various sectors including financial, construction, retail, and manufacturing services. Shoosmiths have teams based in Edinburgh and Belfast and operate across the UK. So, if you are in debt to a business based in these services, it is possible they may contact Shoosmiths for advice and to manage commercial debt recovery going forwards.
If you are being chased by Shoosmiths, this is because the lender who you owe payment to has sold this on to them as part of their corporate debt recovery services. This occurs when they have used all methods available to attain payment and have no other option than to contact a debt recovery service provider. What happens in this arrangement is that the debt collection firm, such as Shoosmiths, will purchase your outstanding debt from the business and manage repayment moving forward so it is no longer a responsibility of your original lender.
When chasing payment, debt agencies or solicitors can be more direct and persistent in their methods. This may mean that you will receive more frequent and insistent communication from them. This can be received as phone calls, letters, or both. As commercial debt recovery solicitors, Shoosmiths have access to more resources and a team dedicated to receiving payments back. This can mean receiving multiple calls in one day as they are able to chase payment more efficiently than the original lending business who have less time and resources to use for this matter.
Whilst being chased by debt collector specialists may feel overwhelming, it is important to consider that there are certain legal obligations they must follow in the same way as your previous lender was obliged to. Debt collection agencies or solicitors such as Shoosmiths can however escalate to the Sheriff Court if payment remains outstanding. According to Scottish law, they can place you under a wage arrestment or gain control over your personal funds in your bank account. To prevent this from occurring, it is advised to act as soon as possible to address the situation before it worsens.
If you find yourself being chased, it is important to acknowledge the situation and act. The feelings of stress and anxiety brought by this may make it seem daunting to address your debts. There is help available if you cannot pay the amount owed. By reaching out to our team of experienced advisors at Scotland Debt Solutions, you are taking the first step to becoming free from debt chasing. We can contact Shoosmiths on your behalf and guide you through the solutions available for your individual situation.
When a business has sold on your debts to Shoosmiths, they will take over ownership of the amount you have remaining unpaid. It is important to be aware that any payments should be made towards Shoosmiths instead of the business you originally owe money to.
We recommend asking for proof of the amount owed to Shoosmiths before arranging to make a payment. It is important to know that debt collection agencies or firms are legally obliged to confirm any debts are valid with the relevant documentation according to the Office for Fair Trading guidelines. You can request this information by a Proof of Debt letter addressed to the relevant debt collector.
If they can confirm the debt belongs to them then it is recommended that you make payment if able to do so. This will prevent any further financial implications such as interest charges or additional fees taking place. By making payment, this will also bring an end to further contact from Shoosmiths.
If you find yourself still struggling to make payment to Shoosmiths for the debt owed, make sure you communicate this to them from your perspective. Remain calm and collected when addressing this and you may be able to organise a payment plan with them to help clear the amount due.
When negotiating with debt collection specialists, it is important to be mindful of other financial obligations to ensure you do not later face struggles with managing other commitments such as rent or council tax.
If you have been contacted by Shoosmiths for collecting debt which you are unable to pay, or if you have any other forms of unmanageable debts owed to other debt collectors and lenders, we can offer expert advice at Scotland Debt Solutions.
We have specialist advisors who will find out more about your individual circumstances and work to find a solution for your situation. Our team are highly experienced in solutions which you can enter including a Debt Arrangement Scheme (DAS), Trust Deed, or Sequestration depending on what your situation may be.
After you have found a way forward with your advisor, they will be there to guide you through the next steps. Our team can communicate with Shoosmiths to end the letters and phone calls immediately. Your advisor will become their point of contact instead which will provide you with space to relax.
If you are in this situation and need expert help, contact one of our Scotland Debt Solutions advisors on 0141 326 0417 today and bring an end to pressure from Shoosmiths.
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