Debt Checklist
 
There are things that you are probably not thinking of how to get back on top if you are in a lot of debt. You are probably simply worried about where the next payment is going to come from – and that would be a mistake. The second you realize that you are in trouble, that you are not going to be able to make that month’s payment, you need to have a plan on how you are going to handle it.
 
In today’s economy, there are too many people to count who are not able to keep their heads above water. However, this does not mean that your creditors have the right to harass you if you are not making your payments. They can work with you if they desire, or they can simply wait for their money – the ball is in their court as to what they are willing to do – but do not worry – they want you to pay so they are most often willing to work with you.
 
As soon as you know that you are in trouble, call your creditors. Let them know the situation. Sometimes they will reduce your interest rates, push off payments, eliminate late fees – there really are a ton of things that you can do. Do not ignore your creditors. If they call, talk to them and let them know where you are at, and that you are still working on a plan to pay them back. Be honest with them, don’t tell them you are going to make a payment next week if you know that you are not going to be able to.
 
Put all contact in writing so that you can show that you contacted them on such and such a day, or that they had called you back and you said this or that. This could come in handy later if you need to go to court. If they are harassing you, you can tell them that you know it is against the law for them to do so, and send them a letter telling them that they can only contact you via mail. Let them know that you are willing to work with them as best as you can, but you will not be bullied. Then, when you have the money, pay what you can.

 

 

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