In the whole of Scotland, Scott and Co is indeed a name that rings a bell. Most especially, in areas that pertain to debt collection and enforcement. This debt recovery agency has never ceased to amuse me with its services that are unique and better off other agencies in the same industry.
Despite rendering services in an industry known for its ruthlessness to debtors, they have surprisingly been to recover high amounts of debts with zero harassment. Although, this is my perspective of how they operate.
Scott and Co were established in the year 1992 in Edinburgh, where its fame as a competent debt recovery agency rose like a wildfire in Scotland. Since then, it has maintained this brand name. And presently, this Scottish based agency is the biggest employer of Sheriff Officers and Master-at-Arms and also the major debt recovery service provider, rendering consumer and commercial debt services to both public and private companies.
From the research I was able to conduct about this company, they have the most accreditation in the Scottish debt recovery industry. Isn’t that spectacular?
What is their process of recovering debts?
Getting a debt letter automatically means am due to service a debt that needs urgent attention. A good example of such a debt is council tax. Using myself as an example, the first step they took was to contact me multiple times, sending reminders letter through my local authorities.
Next, I received another reminder asking me to pay within 7 days either in full or instrumentally. After no response from me, they were good enough to extend the payment to 14 days without the installment payment option. Thereafter, a step was taken and my local authority applies to the sheriff court asking for a summary warrant.
What Steps do I take if Scott & Co begins to come after me?
If found in such a case, my first line of action would be to respond immediately. If I don’t, I will be charged an extra fee of 10% which will serve as the fee for a summary warrant. This will be added to my initial debt. To prevent this, it’s either I pay up or ask for an extension within the given period. As a sign of kind gesture, this debt recovery agency does offer that.
But if payment is not made after this, they swing into action using “diligence” an enforcement action and collect their money by using; Bank arrestment, Earnings arrestment, or Inhibition( a process of banning the sale of properties)
What are the legal rights of Scott’s & Co
- Having earned the authorization from national bodies to carry out debt recovery service services, they have the right to send me letters, collaborate with my local authorities to ensure that I pay up
- Using Earnings Arrestment, they can make regular deductions from my net earns upon refusal to pay up after several reminders
- They can freeze my account, and seize my property upon the basis stated above
What are my rights as a debtor
- As a debtor, I have the right to a series of reminders before any action be taken
- Right to have a dialogue with the company requesting for more time
- Zero harassment from my local authorities
From my research, Scott & Co is as flexible as possible, ready to help both debtors and creditors settle their differences. This is not a characteristic common to other debt recovery agency.