Here are a few debt collection tips presented to help you take control of some overly aggressive collection practices that may occur against you:
Be honest, don’t agree to payments you cannot afford to make.
Don’t be afraid and take control.
Your mannerism should be professional, and not defensive or offensive.
Project an image of cooperation and not accusatory or aggressive.
Have a good knowledge of your financial situation prior to making any commitments for payment to creditors through debt collection actions.
Create a personal budget and organize your finances.
Make notes on any agreements you make with creditors, and abide by those agreements.
Keep a log of all contacts with creditors and debt collectors. Information such as name of person calling, company they represent, account number, telephone number, address, and details on any agreement made.
Tell the creditor that you are considering other options, such as bankruptcy. Most creditors will quickly consider settling an unsecured debt to collect any money as opposed to no money.
Request a temporary extension, or permanent reduction of your monthly payment. This method will probably involve adding months to your payment plan, also the creditor may charge some type of “deferral fee.”
Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts which unavoidable wars have occasioned, not ungenerously throwing upon posterity the burthen which we ourselves ought to bear. - George Washington quote.
The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight-of-hand that was ever invented. Banking was conceived in inequity and born in sin... But if you want to continue to be slaves of the bankers and pay the cost of your own slavery, then let the bankers continue to create money and control credit. - Josiah Charles Stamp quote.
Some debts are fun when you are acquiring them, but none are fun when you set about retiring them. - Ogden Nash quote.
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