Drug testing

Credit Problems? Heres How to Manage Your Creditors

If you find that creditors are calling you almost daily or that one of more of your bills has been turned over to a collection agency, you should know how to manage your debts.

First, prioritize then or rank them in terms of the ones that can give you the most trouble the soonest. If you're three months behind on your utility bill and the company is threatening to cut off your power, you must deal with this debt first. Then deal with your other debts in descending order of "threat level."

Second, be proactive. Don't wait for creditors to call you. If you are behind in your payments or have a payment coming due that you know you won't be able to meet, call the creditor. Tell the company's representative why you are having money troubles. Be sure to give a real reason for your problems such as a divorce or loss of a job, and not just some feeble excuse.

If you can give your creditors a real reason for being in financial trouble, they may be sympathetic and willing to work with you.

Next, contact any creditors where you are more than a month behind to arrange payment plans. Explain to them that you know you are behind in your payments but that you want to make a payment arrangement. Let them know what you can afford to pay this month and in future months. Make certain they know you intend to make full payment eventually.

Be sure you know what you can afford to pay

Be sure to calculate just how much you can afford to pay a creditor before contacting the company. Then, do not agree to pay any more than this, no matter what the company demands. Get all payment plans in writing. If the company's representative does not volunteer to mail you the plan in writing, send a letter requesting that he or she do so.

Keep accurate records

Also be sure to keep an accurate log of all phone conversations with your creditors and copies of all correspondence. This way, you will have a good record of what's going on, to whom you spoke last, the date of that conversation and its result. If you keep accurate records, you will always be able to defend yourself against claims that you have been unresponsive or uncooperative. Once you arrange a payment plan that is agreeable to a creditor, make sure you stick with it. The best way to repair your credit is to say what you will do and then do what you have said so that your creditors will see that you have become more credit worthy.

Working with your creditors by following these suggestions is hard work but it is an important step toward debt reduction and credit repair.

For FREE help with debt and credit, subscribe today to Douglas Hanna's free email newsletter "8 Simple Steps to Debt Relief" at http://www.all-in-one-info.com

limousine chicago service
In The News:

10 Dirty Tricks Credit Card Companies Play

The credit card companies make billions each year in legitimate... Read More

Credit Education

Having credit education is like knowing how to read. It... Read More

Clean Credit Report: Easily Raise Your Credit Score 100 points

Clean Credit Reports, your credit report contains information about where... Read More

Building Your Credit History

Today, credit is an indispensable part of our lives. In... Read More

Tips for Credit Card Surfers

Moving money from credit card to credit card to take... Read More

Improving Your Credit Report

Even if you think you have a wonderful credit report,... Read More

Credit Card Traps: How To Spot Them On The Spot!

They arrive in your mail - a conspicuous looking mail... Read More

How To Start A Second SEPERATE Credit File!

Your personal credit file is separated from those with the... Read More

UPS Delivers the Goods, Your Identity

Well now we add CitiGroup and UPS to the Identity... Read More

Choosing a Credit Counseling Company

If you have considered credit counseling as an option to... Read More

Simplifying Your Search For a New Credit Card

Today, selecting the proper credit card can be a bit... Read More

Credit Counseling Basics

Credit counseling is an option you might want to consider... Read More

Why Americans Find Predatory Lending Offensive

"Menis - the author translates as "indignant rage" - It... Read More

Credit Verus Debt

Secured and unsecured debt - what's the difference?It's easy to... Read More

Fun with Credit Cards

For those of us who know how to use them... Read More

Credit Cards: How To Use Them

Credit cards can be a very quick way of getting... Read More

Understanding Credit Card Penalties

Because most of us have one or two credit cards... Read More

Why Does Your Credit Card Rate Keep Going Up?

Have your read your credit card contract through completely? Do... Read More

Commercial Collections And Credit Granting

It is estimated that billions of dollars in delinquent commercial... Read More

Figuring Out the Ever Nebulous Numbers Called Credit Scores

Credit Score FactorsThe information contained on our credit reports affect... Read More

Special Credit Information for Married Couples

If you are married, establish separate credit accounts.Try to finance... Read More

Comprehending a Credit Report

Obtaining a credit report is an excellent way to begin... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

Good Credit is King, When Qualifying for Mortgage Programs

If you want to purchase a new home or refinance... Read More

How did a Thief get my Name? Don?t be a Victim of Identity Theft

How do these people get my name? If you have... Read More

wall pack lights inductive lighting Pete's produce ..