Do you jump every time the phone rings? Are you afraid to answer because it might be a debt collector calling? You can feel you blood pressure spike whenever the phone rings and you screen every call, ignoring the numbers you do not recognize. If you owe creditors money you can become overwhelmed with feelings of guilt and persecution when creditors come to call, and they are very good at pressing our emotional buttons. What you need is information and strategies to deal with creditors so you can get the upper hand and remain emotionally unaffected by their attempts to manipulate you. So here are some tips to help you deal with creditors, pay off your debts and rid yourself of those annoying phone calls at dinner.
- Be aware that there is a time line with creditors, and the farther along you go in terms of months and weeks the more aggressive creditors will become. Debts get sold off from one collector to another at pennies on the dollar, and as you file gets passed down the line you can eventually find yourself dealing with some very rude and aggressive people.
- Do not make a deal directly with a creditor to pay off your debts, they do not have any obligation to honor your deal. You may find that after a few months of payments you once again get a demand for the full amount and begin to get bothered again with the phone calls. This can be incredibly upsetting and make a person very angry. If possible, when you have no other choice but to make a deal directly with creditors, get it in writing!
- The creditor is not there to work with you for your benefit, but to collect money, period. The phone conversations are recorded so you have to be very careful what you say to them. If you admit directly in any way to owning a certain amount of money or promising to make a payment that can he held against you later on in court when they are coming to garnish your pay-cheques. It is about money, and there is nothing nice when it comes to fighting over money.
- Get a credit councillor! The only time you should be spending on the phone with creditors is to find out what your file number is and which creditor is after you. You then take that information to a credit councillor and they will work with the collector on your behalf. They have no chance of getting emotionally upset or manipulated by the creditors and have a deep understanding of the laws in regard to debt collection. Your credit councillor should be able to get the phone call to stop after it is on the record that creditors have to go through them. Credit councillors with work with the creditor on your behalf and get the best possible deal that they can for you, and have it legally binding! This way you can pay off your debts and have peace of mind as well.
So you can see that there really is just three simple steps when it comes to dealing with creditors; find out your file number, find out the name of the creditor that is after you, and go to a credit councillor. Go straight to the councillor and do not spend any time at all on the phone with the creditors beyond getting the file number and the company name. If you do then you give them the opportunity to bully you, threaten you and wind you up to make you extremely afraid to answer the phone. Creditors will do and say anything they can get away with in order to get your money so be careful, stay calm, use your head and get a credit councillor.
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