People incur debt for many different reasons. Even though personal debt is increasing, most people want to be debt free. What can you do to be debt free?
- Have a plan as to what you want to settle each account for.
- Call the creditor, make your offer and be firm.
- Keep a log of times and dates you called and the offer made.
In the end, all creditors want to get paid. Don't worry if they reject your first or second offer. It's very likely they will call/write you back with a new offer and you can keep negotiating. You may end up, pleasantly, surprised as to what some creditors are willing to take to settle an account. The longer you have owed the debt, the more likely creditors are willing to negotiate with you. If you feel intimidated by creditors calling you, ask them to send you correspondence in writing. Yes, you do have that right and they have to comply with your request.
It is not always possible for creditors to collect on the debt you owe, as there may be issues with the statute of limitation barring their right to collect, standing (as to who is truly the creditor), or you may have other valid defenses. You should consult with an attorney to know your rights and explore your options. Lastly, always open your mail, because how can you solve your problems if you don't know where you stand!