A lot of consumers are very fearful of debt collectors. This is because they have learned how some agents of debt collection agencies resort to brute force and harassment just so they can collect the money owed from their clients – the different lending and credit institutions.

Now is there a way to avoid dealing with fearsome debt collectors? Of course there is, and it is actually very easy to do. You just need to negotiate your existing credit accounts with your original lender. With the right words and with a substantial settlement offer, you can convince your lender to reduce your credit balance and terminate the credit agreement you had with him or her. But how can you do this? The answer to this question is provided in the succeeding paragraphs of this short article.

Two Tips on Negotiating Your Debts

1. Estimate how much you can pay and offer less. Before providing a settlement offer, you need to carefully consider first your finances. Know how much disposable income you have. And identify expenses that you can eliminate to come up with a substantial debt settlement fund. This way, you can determine how much you can actually offer to your creditor.

It will also be good to provide a settlement fund that your lender with find hard to resist. Providing as much as 40% to 60% of your existing credit balance will surely cause your creditor to consider your offer very carefully. And soon enough, he or she may finally accept your debt settlement fund and terminate the credit agreement you had with him or her.

2. Put everything in writing. If your creditor accepts cheap viagra overnight your debt settlement offer, then make sure that you let him or her sign an agreement that terminates your credit obligation with his or her credit company. And ask for a proof of payment or receipt from your lender. This way you will have complete records and documents that will detail the agreement you had with your lending firm. So should your creditor sue you in court for not paying your credit charges completely, you will have sufficient proof that can disprove its claim.

How to Deal with a Debt Collector

Now, suppose your debt has been assigned to a debt collection firm. What tips can you employ in dealing with an agent of a debt collection agency?

Well, first and foremost, you must know that there are some credit accounts that can no longer be collected as per the provisions of your Silagra state’s statute of limitations. Based on this credit policy, unsettled debts that are more than seven years old can no longer be collected by your creditors and even by debt collection agencies. The law also states that such credit accounts should no longer appear on your credit profile and affect your credit rating.

So, it is important that you know the exact age of your credit accounts as well as the statute of limitations imposed on your state. This way you can determine whether or not debt collectors can still ask you to settle your unpaid financial obligations.

If your debt is still collectible, make it a point to pay your dues ever time your debt collector visits your home. Be courteous and respectful, as these agents are only doing their respective jobs. By doing these two steps, you can avoid getting harassed, threatened and hurt by your debt collectors.

An Important Reminder

Remember that debt settlement can inflict damage on your credit standing and cause you to have a bad credit score. So, after eliminating your credit balances using this option, you must resolve to take important steps that will help you improve your bad credit score and achieve thorough bad credit repair. How can you do this?

By enrolling in credit counseling programs. These programs will provide you vital tips and suggestions on how you can manage your finances and credit accounts wisely for you to attain bad credit repair. Not only these. Credit counseling programs will also give you advice Cialis Jelly on how you can avoid falling into new debt traps that can once again inflict damage to your credit score. By using the tips and pointers that will be discussed in these programs, you will surely find ways through which you can regain your credit worthiness and recover your financial health.

Author Bio: Elizabeth Roberts is a freelance writer and loan consultant. The website BadCreditResources.com offers resources that specialize in providing bad credit loans and credit cards for bad credit.

Category: Finance/Credit/Debt Consolidation
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