debt collectors calling? improve your finances
by answering the phone
finance
It’s a terrible feeling. The phone rings, your heart races and your palms grow sweaty as you eye the unknown “1-800” popping up on the caller ID. Funny thing is, you know who is calling and why: it’s a debt collector. Fear no more. rolling out offers the following reasons to answer the phone every time.
No pain, no gain. If you don’t answer the phone, the debt collectors will make a note of it and still collect their checks at the end of the day. And you will still be in debt.
Going, going, gone. You can make arrangements with the company to pay off your debt. Most companies are willing to be flexible with a payment plan. And you may even get the collector to agree to settle for a lesser amount than you owe if you can make a substantial lump-sum payment.
Face your fears. Anxiety, depression and stress can all be avoided if you face your financial fears head-on. Financial woes don’t go away because you ignore them, they go away because you take responsibility and the necessary steps to rectify problems.
Who’s in your debt network? If you have a cosigner, don’t jeopardize a close relationship by hiding from creditors. They won’t hesitate to go after your cosigner if they can’t collect from you. And your deadbeat antics will make you smell like Pepé Le Pew.
Avoid more pain later. Debt collectors can place liens on your bank account as well as garnish your paycheck. If your bank account is zapped by a lien, you won’t get any warning, the funds will be gone and you’ll be left scrambling to cover any checks you’ve written and the additional insult of overdraft fees.
If you don’t work to improve your credit, you will face serious consequences when it comes to renting an apartment, leasing a car and even finding a job. If you want to have access to a better life and a secure financial future, then by all means, answer those debt collectors’ calls.
–gavin philip godfrey
Check out these resources to start getting your financial house in order.
Books:
Zero Debt: The Ultimate Guide to Financial Freedom by Lynette Khalfani
Girl, Get Your Money Straight: A Sister’s Guide to Healing Your Bank Account and Funding Your Dreams in 7 Simple Steps by Glinda Bridgforth
Web sites:
freecreditreport.com
www.blackenterprise.com
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