DIY Credit Card Debt Relief
Everyone has a credit card these days but unfortunately, not everyone is debt-free especially with the credit card being such a great tool that allows you to purchase on credit where there is absolutely no cash in your wallet. That’s how we end up with this thing called a credit card debt. So how can we get a debt relief? There are some methods that we could try, namely debt negotiation in order to get a debt reduction. So, how do you make a call to negotiate a debt?
1. Make preparations before you call
You need to have all the relevant information with you before you call. This not only helps you to understand the situation but you definitely need a clearer picture of the whole situation. Prepare these items in front of you before you make the call:
– The latest credit card bill
– Letters from the creditor that offers a settlement
– The amount that you are able to pay if a settlement is reached. This can either be a lump sum payment or a monthly amount
2. Make the call
If your account is long overdue for some months, don’t expect any cordiality or pleasantries from the collectors. However, make your intention clear that you are interested in reaching a settlement or making a payment. Some collectors will be glad to help while there are also some who will turn you down. If luck is on your side, the collector will then proceed and ask you to verify your personal details such as your contact number, employer and home address.
3. Try other ways of contact if a settlement is turned down
Facing a collector who refuses to grant you a settlement can be frustrating. In the event that this happens, you can either:
– Just terminate the call. You don’t want to be caught on record swearing and hurling obscenities.
– Ask to speak to the manager or supervisor. They should be more than happy to co-operate with you.
– Write to the department manager or to the president with details of how you plan to a debt settlement. Includes the dates that you wish the payment to commence as well as the amount you intend to pay.
Whenever in doubt, speak to those in the know or read up on the Net to find out more about debt management and credit counselling. Hopefully, credit card debt relief will not be as complicated once you have done so.
Anna has been writing articles online for nearly 3 years now. She hopes these tips would help fellows to reduce their debt. You can also check out her website Debt Snowball to learn more about another method of reducing debt using Debt Snowball Calculator.
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