Those who are in debt are often stereotyped as reckless spenders. The truth is that millions of Americans find themselves in debt through no fault of their own.
Facing substantial debts can be stressful and it is by no means an easy situation to get out of. Some creditors are more helpful than others. If your creditors are helpful, then communicating with them could go a long way to resolving your issues. Outlined below are a few things to keep in mind.
Review the specifics
Receiving letters and reminders for legitimate debts can be daunting enough. However, it’s important to keep in mind that creditors don’t always get it right. Are they pursuing you for someone else’s debts? Are they attempting to come after you for a larger amount of money than you actually owe? Understanding the fundamentals before opening communication is very important.
Try written communication
It may be possible for you to call your creditors or vice versa. Nonetheless, it might actually be better for you if you can communicate in writing. This means that you have a written and dated record of when contact was made.
Remember, creditors are only allowed to contact you at certain times unless you have stated otherwise. Generally, this is between the hours of 8:00 a.m. and 9:00 p.m. They are also not permitted to repeatedly contact you by phone throughout the day.
If you find it overwhelming to communicate with your creditors on your own, then help is available. Seeking legal guidance will help you get back on track and address your outstanding debts in a way that is suitable for you.