Got Debt? Talk it Out

Seems like a simple idea, right? You are in over your head in debt – credit cards and medical bills. The phone won’t stop ringing and you are tired of ducking collectors. So, what do you do? Literally, start telling your story and asking for a reprieve.

1.    Face it, while the collector doesn’t want to hear about all your drama, they do want to get paid. If listening to your story – a consistent believable story about losing your job or getting sick – will get them a portion of what you owe, they’ll listen. So, reach out to creditors, tell your simple story and quickly make them believe that you want to make things right. Alas, you can’t pay in full right now. Can they make a deal?

2.    Who you talks to matters. There is no need for you to deal directly with the collectors if you can get out ahead of this and go straight to your creditors. They will want to work with you so the account doesn’t need to be sent out for collections. You can stop this process by paying something, anything toward the debt. Besides, it’s better for you in the long run with regard to your credit report. Once a collection agency gets involved, the ding on your credit report can cause more damage.

3.    Whatever you agree to, make sure you get the deal in writing. It will be “he said, he said” if you don’t. And, you can believe that whatever they said will trump your memory in court. This is especially true if you believe something to be settled and they don’t acknowledge it in writing.

Don’t go it alone. Once a bill has been sent to collections, you will need help making a payment deal. Trust an experienced debt negotiation lawyer who will protect your rights throughout the process. Also, once you get an attorney involved, your efforts to negotiate will be taken more seriously by creditors and collection agencies. You’ll get a deal, not the runaround.

Contact Bob Jacovetti right away about your debt situation. He will get an understanding of your personal financial situation and work with you to strike a deal with creditors you can live with and afford. Further, if you are considering bankruptcy, he can explain your rights and protect your interests throughout the process.

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