Imagine you’re in over your head in debt and you are only working a temp job, the credit card bills have been ignored entirely because you aren’t earning much and now they’re calling you because you are so late on payments. It’s like they think you forgot when really you haven’t stopped thinking about your debt.
They send you constant reminders in the mail. They email you. They leave you endless voicemails. Some creditors call more persistently than others. Some send your debt to a lawyer to collect.
Occasionally, you get a message saying you need to pay your full amount or get taken to court.
I’ve been there! It was certainly a learning experience. I’ve learned it’s better to pay a little something than nothing at all. That not paying anything makes matters worse. If you’re behind a payment, call the creditor, they just might waive a payment for a month to allow you to catch up.
It’s also helpful to answer those phone calls because you could get some of that debt taken care of instantly! Or they might tell you to set up a payment plan and they’ll remove the interest, or lower it!
What a concept! I’ve had it all given to me here and there. Several years ago, a creditor called me when I was shopping for Halloween costumes for the kids (my son and nieces and nephews) with my mother. I kept walking away from her and later she asked what was wrong. Parents, they know when something’s bugging you!
After explaining my situation, she agreed to help me pay for my debt, at that time I had three credit cards that we’re behind and she was definitely disappointed, but willing to help some.
I called a credit consolidation company to get some assistance. I was able to get the creditors off my case, make payments to creditors, and made a deal with a lawyer to pay off one credit card.
Let me tell you, if pays to talk to creditors even if you don’t want to! This is when money management became a priority, but I didn’t have the tools yet.