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Life After Bankruptcy


Calling crazy credit card companies effectively

Face it: You’re at least a little bit intimidated by your credit card company. Especially when you are facing large debts and massive amounts of bills, the thought of trying to reason with your credit card company can be slightly frightening for almost anyone. But the truth is that, no matter what you owe, most credit card companies are just trying to make their money back and are often times willing to negotiate with you in order to get their money. But you need to know how to ask. In most cases, you should start by phoning your credit card company and speaking with a customer service representative. Ask them how they typically deal with debt negotiation. Do they allow it? What sort of terms do they offer to people who are looking to negotiate their debt down? And this does not apply only to credit card companies. You can speak with almost any legitimate creditor about debt negotiation.

After the initial call, you will likely have to submit a letter to the company explaining your situation and asking for negotiation. Be ready to provide all of your financial information and show the company that you are serious about settling your debt.

Scared to consolidate or settle? Think again

Paying off a credit card, especially one with a high interest rate, is not easy. If you make only the minimum payments, you will often spend years trying to pay off your debt. However, if you have the funds to settle your credit card with a one-time lump sum payment, look into this. Most credit card companies, especially if you have been carrying around a large amount of debt for awhile, will be willing to accept just a portion of your debt at one time and will wipe your slate clean. But you need to know how to approach the situation. In writing (and always by certified mail!) write a letter explaining your situation and offer to pay off a large portion of the debt in order to settle it. Another option is debt consolidation. By consolidating your credit card debt (this option works best if you currently have more than one card), you can save yourself thousands of dollars and make it easier for you to pay off your debt in a timely fashion. Decide which of these works best for you and inquire about changing your payment plan with your creditors. You’ll be glad you did.

Why DIY debt settlement works the best

While there are plenty of companies out there available to help you through the debt negotiation process, there is a valuable lesson to be learned when you decide to do-it-yourself and negotiate your debt. Aside from the fact that you’ll probably save yourself money and won’t have to hire help, you will also learn about the value of paying off your credit card bills and other debt and will find out how credit card companies operate when faced with customers struggling to pay off debt. Of course, if you are having trouble negotiating yourself, be mindful of finding the right person or financial advisor to help you through the process. Make sure you are involved at all times and understand the process of paying off your debt. Settling your debt is one of the most important things you will do this year. Do it right the first time and you’ll be on your way to a debt free life of happiness.

Related Articles:

  • Bill Consolidation : Consolidate Bills : Bill Consolidation Loans
  • How to negotiate your debt with debt collectors and creditors
  • What will happen if I do not pay my credit card bills/debt?
  • Keep Your Vision of the Future Bright - Debt Settlement Will Help You
  • Debt relief now before it's too late


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