If you are already in over your head in credit card debt, you probably don’t have many nice things to say to your creditors. However, if you are just beginning to consider credit card negotiations as an option, the bargaining table may not be as bleak as you think. Many people, over time, find themselves trapped under more debt than they are comfortable with and able to pay off, in full, ever month. Here are so more ideas on how to negotiate with creditors and preserve your humanity:
Be civil with creditors
If no one is yet threatening you, your home or livelihood directly, don’t unwittingly burn any bridges by being harsh with your creditors. Appearing ready to negotiate and come to some reconciliation will alleviate creditors’ fears that you are ready to call it quits. Most decent creditors will stay in the game so long as it appears you ready and willing.
Build a financial picture of yourself before the bargaining table
If you haven’t been frivolous or abused your credit by purchasing big-ticket items, you should be able to humbly present a picture of yourself as a borrower who just went the wrong way. With a clear picture of yourself as an income-generator and borrower, creditors should be able to setup a payment plan that is reasonable and allows you to get out of debt.
Show creditors your ambitions as a borrower
You want to demonstrate an interest in being free of debt. Not just for your sake, but so creditors are crystal clear: this is someone who is tired of being in debt, and won’t settle for any monkey business. Importantly, having goals suggests to creditors someone who will work to make their credit problems go away.