ARREARS & COLLECTIONS

External Debt Collection for Non‑Paying Clients

At PJM Loans, we are committed to helping clients maintain healthy and manageable credit accounts. When an account falls into arrears and no payment arrangements are honoured, the matter may be handed over to an external debt collection agency for recovery.

When Accounts Are Handed Over An account may be referred to external debt collectors when:

• Monthly instalments are not paid
• Debit orders repeatedly fail
• The client does not respond to communication attempts
• No alternative payment arrangement is made or honoured

What Happens After Hand‑Over Once an account is handed over:

• All communication and payment arrangements must be made directly with the appointed debt collector
• Additional collection fees, admin charges, tracing fees, and legal costs may be added to the outstanding balance
• Payments made directly to PJM Loans will only cover the original loan amount and will not settle collection fees
• The debt collector will continue recovery until all fees and outstanding amounts are fully paid

Important Notice Hand‑over is a formal legal process. To avoid additional costs and legal action, clients are encouraged to:

• Pay instalments on time
• Contact PJM Loans immediately if experiencing financial difficulty
• Respond promptly to communication from PJM Loans or the appointed debt collector

Paid‑Up Confirmation Once all outstanding amounts and collection fees are settled, the debt collector will issue a paid‑up letter confirming that the account has been closed.