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Examples of Creditor Contact

It is understandable to feel concerned about the contact you may continue to receive from your creditors. To give you some peace of mind, we have created a breakdown of common creditor letters and emails that people receive and explained what they mean and what you should do if you receive one.

What is a Default Notice?

A Default Notice is a formal letter sent to you by a lender, informing you of overdue payments. Creditors, by law, must send a default notice to inform you that you have missed payments. Additionally, a creditor must first issue a default notice before they can start legal action to recover the debt.

If you receive a Default Notice from any of your creditors that are covered in your Debt Management Plan please get in touch with our team.

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Changeover Notifications

A Changeover Notification can come in many formats – from letters to emails.

It is basically a notification to just to notify you that your debt has been sold to another company. This means that the company you owe money to has now changed to a different one. This is nothing to worry about, however please inform us if you receive a Changeover Notification.

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Chase Letters, Texts, and Emails

This type of contact acts as a reminder that you have not paid your debt. It is sent to inform you that your payment is overdue. It also invites the customer to explain why payment has not been made and raise any issues they have.

Please let us know if you receive any creditor chases, our team of experts will take care of this for you.

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NOSIA Letters

NOSIA stands for Notice of Sums in Arrears and is a shortened way of referring to these types of letters.

This is a letter from your loan provider to notify you that you have missed at least two payments on your loan agreement. As the law requires these to be sent, you will keep receiving these letters even if you have agreed on a payment plan to clear the debt. For this reason, NOSIA letters are nothing to worry about. The letter will tell you how much is overdue on your account and ask you to contact the company to discuss your options, however you do not need to do this as we will do it for you.

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Very friendly service. Understanding and not judgemental. Nearly paid off debts and had no hassle from debtors. Easy to deal with and extremely satisfied with service.

—Trusted Customer