I wrote a blog post yesterday about speaking nicely to bill collectors, here’s the follow up info I promised on what’s good to say and what’s bad to say.
The first thing I would tell anyone who legitimately owes money and has the means to pay it in full is: Do it! Don’t play games with bill collectors; it’s not worth the damage to your credit and dealing with their calls.
If you are drowning in debt, and have more month at the end of the money. Here’s what you can safely disclose. Tell them you are experiencing financial hardship (aka broke), and you don’t have the means to meet their demands for payment and that you are considering all options including going bankrupt. That’s about all you can safely say. Do not disclose more than that to them.
You do not need to answer to a bill collector. They will push and start asking questions, if it becomes too much or they become rude. Just hang up. They are very clever; some may befriend you and act like they are helping you out. The truth is they are commission driven and have targets. They are only helping themselves.
Bill collectors want answers to questions that tell them about what your household income is and what you spend your money on. Why do they want to know this? Because they will turn around and use that info against you and when they do it’s often tied to threats of garnishing your household income or taking away an asset and selling it to pay the debt. That’s why we handle all settlement negotiations for our clients; we know all the bill collector dirty tricks and lies.
Loose lips sunk ships in WWII, they also can make your blood pressure to go way up, create more spousal fights and make nights sleepless. Keep discussion about your household cash flow to yourself. You do have the right to privacy so, button up!
Whatever you do, if you are getting collection calls, it’s a pretty obvious sign you need to do something. We’ve created tons of raving fans with our debt settlement programme and helped many people who were considering bankruptcy, simply avoid it. Don’t drag your feet, seek help and do something today!
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