Posted on Monday 06 March 2017
This article is part of our Finance Hub.
Too many Canadians run from their debt and try to bury their head in the sand. It's not because they are losers--it's simply because they just don't know what to do. They think by not communicating and not answering those letters the debt will somehow just disappear, but that isn't going to happen. One of the worst things that a debtor can do when a debt collector calls is to avoid the phone, or trash the letters. Especially when it has to do with your rent or something big.
It leads to a very bad place--especially with regard to credit worthiness. The truth is, it's very important to speak to your creditors as soon as possible. If you make an initiative to work through your credit problems your creditors or more likely to work through your financial difficulties with you. You simply have to take action and do something about your problems. So, just how should you talk to collectors when you do answer that phone? It depends on what kind of outcome you want to achieve!
We all want to be talked to with a level of respect and understanding, no matter what the situation might be. When you're talking to bill collectors, no matter how frustrated you feel, keep this in mind. Think about how you want to be treated. Your positive attitude will get you the results you want far faster than being confrontational. Even though the bill collector will test those waters, keep your cool. Let's take a look at a few tips.
Even if you don't owe all of the debt, but some of it, you need to work out a plan that is right for you. Some even incorporate a payday loan or two to get the ball rolling. Which you may qualify for from our website. Either way, you have to negotiate. Most will want something upfront to show you are sincere, and then devise a plan following a first payment. So, if you know for a fact that you're liable for some of the debt owed then you should: Honesty is always the best policy, and when Canadians are upfront with collectors there is more flexibility provided. The benefit of the doubt is actually given. Once you get on top of your debt you need to stay on top of it and don't make the same mistakes. You know how you double triple check a resume? Make sure you do that with your plan as well. Develop a well thought out financial plan and stick to it to avoid those same pitfalls.