Creditors. We all have them, we all dread dealing with them. When you are having trouble with your debt payments, the last thing you feel like doing is arguing with your credit card company. However, securing a debt resolution plan does not have to be difficult. In fact, credit negotiations are not as stressful as you might think, that is, as long as you know what you are doing.
The Ball Is In Your Court
Anytime you are attempting a debt negotiation it is important to remember that your debts are your responsibility. This means that if you want something to change, you must take action to make that happen. Remember that your creditor is not put out by your financial troubles and, ultimately, does not have to provide you with a negotiated deal.
If you want to maximize your chances of success follow these simple rules:
- Contact your creditor before you miss a payment.
- Try to negotiate the accounts with the highest balances or interest rates first.
- Develop an idea of what you can realistically afford to pay each month and present it to the creditor.
- Offer to pay through auto-draft or other automatic payment system.
- Be pleasant and flexible when negotiating.
- Hire a debt attorney to represent you, if needed.