If you’re up to your eyeballs in debt, you might be tired of answering your phone.  Here are some tips to help you reduce the stress and make it easier to answer your phone again.

Learn Who’s Calling

If you’re not answering the phone or returning that call that leaves messages with a reference number about an “important personal matter”, you don’t know who it is and just how easy it might be to resolve the issue.  Find out who’s calling first by checking the Reverse Phone Detective or if you have call display, simply call and face the issue head on.

Be Honest

If you cannot make a payment straight away, tell them so. Be honest rather than make a commitment you can’t meet in order to just get them to stop calling. Some creditors will be willing to let you skip a payment or reorganize your payment schedule so everything is manageable for you.

Negotiate

Try to negotiate as best as you can with the creditor. Be fair and make efforts but don’t be afraid to haggle if necessary.  If they’re demanding a monthly payment you can’t possibly meet, tell them so. Be willing to arrange an interim payment solution for now until your situation improves.

Are creditors not being helpful or cooperating? If you make it clear that if they make life too difficult for you to pay back your debts you might have no choice but to file bankruptcy, they may be more willing to offer flexibility with interest rates and payment schedules.

Know Your Rights With Creditors

Don’t let creditors bully you. There are laws and requirements about how often they can call and what they’re allowed to say and do. Know your rights and if the creditor knows you aren’t about to be bullied, they probably won’t even try.

Be Reasonable

Try to reason with them and come to an amicable agreement.  If you follow the money jar budget, you’ll get debt free sooner than later but in the meantime, remove the stress in your life that happens when the phone rings.

Get Debt Free

Change your spending habits and consider using the money jar budget to help you manage your debt, reduce your spending and pay off your debts sooner!