Find a listing of good credit tips from experts around the country that can help you get out of debt, and some tips that can help you stay out of debt. After all, after you are successful in reducing or eliminating your debt, that will not do you any good if a year down the road you find yourself in the same exact position.
Q: I have a large amount of outstanding credit card debt. How do I get banks and companies to work with me to get a debt paid off or reduced?
A: While it is true that credit-card companies are increasingly willing to work with consumers to help them pay off their debts and bills, some people communicate that they have extreme difficulty in finding the correct person to get to help them. Our advice for you is to ask for the loss-mitigation department, or the supervisor. Do not negotiate with the person who picks up your initial call to a 1800 number. You need to be prepared to explain your circumstances carefully and also provide supporting documentation when it come to that. Find the best ways to negotiate your debt.
Q: I had credit card written off way back in 2001 by a credit-card company, but even today I still get calls from a collection agency trying to get money from me.
A: Unfortunately the truth is that writing off or eliminating a credit card debt has nothing to do with a bill being collectible. A write off is simply an accounting entry or gesture that a bank or credit-card company will make on their accounts to indicate they don’t think the outstanding debt is collectible and that you will not pay it. That being said, you can stop a bill collector from contacting you by putting it in writing. Send them a letter telling them not to contact you any longer. find other ways to stop debt collector calls. More.
Q: I am being called by debt collectors left and right. What rules and laws can protect me?
A: Good question. Many states do have programs, rules, and regulations in place to protect consumers and residents. They are rules that regular how often they can call you, what time of the day, and other protections. One of the tips is that if a debt collector does not abide by these rules, you can sue a debt collector.
So be sure to read the laws in your state to deal with a debt collector. Knowing the laws and protections you have is one of the first things you need to do to help get out of debt. Click here to learn more about the debt collection laws in your state.
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