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When the electrical wiring goes on the fritz in my place, I do not try to solve the problem myself. How many issues in our life do we make for ourselves by trying to fix something? So one may assume that if you have a debt problem then you need an experienced person to help you resolve the problem. This may not really be the case. While an electrician must be certified and has gone through an apprenticeship there is no such schooling for a professional credit card negotiator. Why? Anybody can negotiate with collectors if they really know what to do. Now, collectors can be frightening, stressful, insulting, and rude. It seems to be a part of their job. This looks like as good a reason as any to engage a counseling service, but when you are with debt should you spend money to purchase a service that you can do yourself? Let's discuss the basics of talking to collectors and you can decide by yourself.
First, set the tone of the discussion. You must be respectful. Understand, also, that you must have boundaries. If a collector starts getting nasty on the phone explain simply that this conversation will end if the collector does not speak to you in a polite manner. If the collector does not conform, hang up. Don't worry they will call back. When they call back do not talk to them unless they are treating you with respect. If the same collector is phoning you everyday, do not pick up the phone. You may tell them that you will talk to them once a week or whenever your situation changes and you have some more money for them. You can set the boundaries so that these calls are productive and not irritation. If they call you at work, it is unlawful and you can report them.
Secondly, when on the phone discussing your credit card debt or medical debt you can negotiate a settlement yourself. Ask if the provider will take the money that you have available at that time. When settling you will have to have the amount at hand or this will not work. Companies prefer to collect something than nothing.
Lastly, if you have reached a settlement do not give them any money till you have received their settlement offer in writing that states that a particular amount of money is payment in full for the debt. When you get this offer in writing do not miss it because another collector may try to collect on it or the company may conveniently forget that you paid. Also, do not ever give a company electronic access to your account. Give them a check so that you could have a record that they received and approved the money.
There are good national networks that are accredited by the Better Business Bureau. Remember, quite often the medicine can be worse than the sickness.
If you want to locate the top performing debt settlement companies then here's some important advice. Do Not go straight to a particular debt settlement business but instead go to a debt relief network that is affiliated with several established debt settlement companies. To be in the debt relief network, the debt settlement companies need to prove a reputation of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Using a debt relief network will assure that the debt company you are provided with is a reputed and respected company.
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