Believe it or not, your creditors are not the enemy… they want you to pay your bills on time. It costs them money and resources if you don’t. Follow the below tips to help you if you’re in financial trouble. Ignoring creditor phone calls won’t solve your financial problems and the sooner you deal with your money problems the more negotiation power you’ll have:

Call Now

Don’t put off making the call to negotiate with your creditors. Don’t hide from them. IF you can call before you’re going to be late with a payment, they might give you more leeway than you’d expect.

Be Honest

Don’t just tell them what you think they want to hear. Be sure you’re making payment arrangements you can actually keep. You’ll lose credibility otherwise!

Don’t Be Bullied

Familiarize yourself with consumer rights with creditors for your area so that you aren’t bullied into something that’s probably not even legal. Certain laws exist about how often they can call, whether they can call you at work, what types of threats they can make, etc. Place nice but let a bullying creditor know that you’re aware of your consumer rights.

Negotiate

It doesn’t hurt to try to get your payment lowered or your interest rate reduced. Very often a credit card company, for instance, has the power to make changes to your account that work in your favor.

If It Gets Too Stressful…Ask For Help

Know when to call it quits! If dealing with your financial problems is overwhelming and you’re not getting the results you hope for, consider seeking advice from credit counseling or debt settlement agencies that can manage this process for you.