There are many reasons why you may be having trouble paying your bills. Most people have trouble making payments on their debts after their circumstances have changed. These circumstances may be the dissolution or a marriage or a serious illness. Regardless of the reason behind your inability to make a payment on your debt you must know how to deal with bill collectors. Listed below are some tips on how to do this.
Be Honest With Bill Collectors
Debt collectors hear stories from their clients every day. Often they are able to tell when a person is telling a lie. It is important that you tell the bill collector your situation openly and honestly. For example if you are getting a divorce you could tell them you are currently going through a divorce and will have funds to pay the balance once you have a settlement.
All a bill collector wants to know is when the debt is going to be paid. If you tell them the truth and are sincere about your intention to pay the debt they will be more likely to give you a payment extension.
Stay in Contact With Debt Collectors
Anyone that has ever worked in debt collection will tell you how annoying it is when they try to contact clients that are dodging their calls or visits. Aside from being annoying this approach leaves debt collectors with little choice but to take you to court. If you speak to a debt collector when they call they are going to be able to offer you other options such as a payment plan. However if you do not answer their calls there is nothing they can do for you.
The most important thing you can do when dealing with debt collectors is to tell them you have a solution to your financial problems and the time frame it will take for you to pay off the arrears. This is the information that bill collectors want to hear. They are willing to work with you as the last thing that they want is for you to go bankrupt. If you enter bankruptcy the finance company will not be able to recover any of their debt. This is why debt collectors are happy to make payment arrangements with customers. Being honest and sincere will help you deal with debt collectors in a much more pleasant manner.