Introduction
Everybody has been in debt at some point in their life. Although it would have been nice to be free from one, credit is an inevitable fact of life. Credit people might make life miserable for you but has it ever occurred to you that instead of them giving you offers, how about you cut them a deal instead? It will allow credit people to work in your terms and you can actually get to keep what you have pledged how to pay off your debts.
Although they seem like loan sharks to you, credit people actually earn when you clean your slate of debts. They get better commissions that way instead of you shelling out in portions. Here are some ideas how to get the best deals for credit people.
Step 1
• Check if it is legitimate. You acknowledge that you have debts. When credit people call, are they collecting the debt legitimately? You have to verify if they are even authorized by the actual people or establishments who you really owe money to. Once they have presented their credentials, then you can start thinking up of settlement deals that will work for you.
Step 2
• Return in exchange. When they call and you are not available, return their calls the soonest possible time. When they write to you, write them back. These actions will reflect positively on you as debtor. It shows credit people that you are not shirking your financial obligations.
Step 3
• State your finances. When you get in touch with them, state them why you have been financially delinquent and how you intend to pay up for it. Believe it or not, credit people have done their research on your finances that it is useless lying to them or verbally assault them with empty threats of bankruptcy. They know how much they can squeeze out of you.
Step 4
• Pay on time. It is anticipated that you might be a day or two late in payments but months or weeks of delayed payments will have credit people knocking on your door in no time. When you cut a deal with them, be sure you can pay them when you say you can at the amount that you have agreed on. Settle your overall debt with half of their asking price so that you get to slash at least 40% to 30% of the outstanding balance. Get in on paper or at least record the call where you both reach a compromise.
Tip 5
• Put on your best face. As much as you can muster, be courteous and calm when dealing with your credit agents, no matter how stressful you feel.
Sources and Citations
As much as you would like to avoid dealing with credit people, they have the legal right to ask you for payments. When you do not keep the deals you had cut out of them, they have the means to harass you with embarrassing phone calls, demand letters or worse, lawsuits. Follow through this advice and eventually your transactions with credit people will be pleasant.
