When you hit times of financial trouble, this can have quite an effect on your everyday life. A shortfall can mean that you can’t afford to pay for all your outgoings and debt payments as well as cover your day to day cost of living. When this happens, it is often the case that your creditors and lenders will become concerned and pursue some form of debt collection.
In most cases this can be handled quite civilly and quickly by communicating with them, explaining your situation and making alternative arrangements to repay the balance due. In other cases however, for whatever reason, be it poor communication or that your situation has just deteriorated beyond immediate recovery, collection processes can become more varied and at times demanding.
Regardless of how demanding debt collection can become, it is important to know what creditors can and can’t do when it comes to calling in on a debt. While there are a variety of debt collection techniques they can employ, one thing that no creditor can do (with exception of government) at any time, is interfere with your taxes.
Any commercial lender can pursue you personally, through third party agencies, through direct collection from your account depending on terms and conditions of agreement or they can pursue repayment of overdue debt through court action. However, no commercial lender at any time can approach the Inland Revenue or tax department of your relevant government to obtain repayment. This includes either requesting funds from any relevant tax rebate or adding the balance to tax due for repayment. It doesn’t matter who the lender is, with exception of government, be it for a utility payment or a payday loan, no commercial creditor has the right to do this.
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