If you are currently behind on your debts you may be waiting for that dreaded phone call from a debt collector. Although no one wants to deal with creditors, avoiding the issue is only going to make matters worse. The key to resolve debt collections can be found in a few simple steps:
Take the call. Avoiding debt collection calls is likely to lead to more serious collection actions like wage garnishment and credit damage. It is important to take at least one call so that you know the status of your debt accounts, where the creditor is in the collection process and find out what your options are.
Review your account. You don’t have to deal with debt collectors when it comes to your debts, but you do have the right to discuss your account directly with the creditor. Contact your creditor directly and find out what their plans are for collection and discuss possible repayment options.
Negotiate a solution. Credit negotiations aren’t as difficult as you would think, it just takes effort. You may be able to negotiate an extension on your payment schedule, a lower monthly payment or a temporary suspension from payments. All you have to do is ask.