Four Simple Rules for Dealing with Bill Collectors

Four Rules

for Dealing with Bill Collectorsdebt

It is always awful when you get a phone call from the bill collector, asking when you will clear a certain bill. However, it is worse when the bill collectors come to your home, or to your business to collect the unpaid dues. If these collectors come to you at the time that you do not have that cash with you, it could be a stressful moment because they want the money regardless. In a moment like this, you need to know how to handle them to avoid harassment and embarrassment. Below are some the simple rules for dealing with bill collectors;

1) Familiarize yourself with your rights.

Bill collectors can be very rude and abusive sometimes, but do not allow anyone harass you for the bill that only you will clear. Let the debt collector understand that you have your rights, and one of them is the right of expressing yourself. Make him give you time to explain when and how you will clear your bills. Many debt collection companies have restrictions on their employees. As well, the government will get involved if collectors are calling you outside of regulated times, using abusive language, threatening you, or overcharging you for outstanding debt. If you feel the bill collector is mishandling you, get in touch with the authorities or an attorney immediately.

2) Make sure the debt is yours.

There have been cases of bill collectors going to clients and charging for bills that are not even the responsibility of the individual. In case you feel that you do not owe the company in question any money, it is your responsibility to dispute that debt in writing. Companies that specialize in credit repair will often offer a free consultation to look into the matter for you, and it involves a formal legal process between the debt repair company and the creditor.

3) Don’t get emotional.

If the debt collector contacts you, as much as possible, do not get emotional. Instead, be cooperative with them, return their calls, have a dialogue, if it is mail or email communication, reply to them calmly. By doing this you will create a good atmosphere between you and the debt collector, where you can come into agreement easily.

4) Be honest.

If a bill collector, contacts you for the bills that you have not cleared, or if he comes to your business, it is good to be honest with him on your financial situation. If you have failed to clear your bill because of a certain problem you were having, let them know, and explain to them when they can come to collect their money. If your financial position is good, just pay him the money, and let them know you are sorry you did not pay on time.

The Bottom Line

Many of these bill collectors are working under very strict instructions from their employers, but there are some who will push the boundaries to try to make you pay quickly so they can collect their bonus. Therefore, it is always good to come into a formal agreement with them as soon as possible. It will be easier for you and for them if you try to work things out like adults.

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Considering Bankruptcy? Read These Important Tips First!

TIP! Consider all options before deciding to file for personal bankruptcy. You can find services like counseling for credit that consumers can use.

Do not take bankruptcy lightly, this is a serious thing. Being aware of the complexity of the issues involved in bankruptcy is essential. The tips and advice you will learn in this article will show you the proper direction to take. Just make sure you do enough research so that you are more prepared for any future obstacles.

Credit Card

TIP! Once you file for bankruptcy, you will have a hard time getting loans or credits. If so, apply for a secured credit card.

Do not try to get clever by paying your taxes via credit card before you declare bankruptcy in an effort to dodge your tax burden. Most states do not look at this debt as chargeable, and you could end up owing money to the IRS. Keep in mind that if the tax debt is eligible to be discharged, then the credit card debt is also dischargeable. So, in short, do not use your credit cards to pay off debts right before you file for bankruptcy.

TIP! It is important to understand your rights when filing bankruptcy. When you file for personal bankruptcy, you may even be able to retrieve personal property that has been repossessed.

Take the time to find a simpler solution to your financial issues, before filing for bankruptcy. You could find relief from small debts by using a consumer credit counselor. Also, you could try to get your payments lowered on your own. If you decide to do this, get a copy of anything you agree to.

TIP! Consider filing using chapter 13 bankruptcy. If you have a regular source of income and less than $250,000 in unsecured debt, you can file for Chapter 13 bankruptcy.

Most bankruptcy lawyers give free consultation, so try to meet with these types of lawyers before deciding on hiring one. Make sure you meet with a licensed attorney rather than a paralegal or assistant, because it is illegal for these people to give legal advice. By meeting with several attorneys through a free consultation you will be able to choose which attorney you feel more comfortable with.

TIP! When filing for personal bankruptcy you should always be aware of your rights. Bill collectors can try to scare you into believing that your debt will not be cleared.

Take steps to ensure your home is protected. Filing for bankruptcy does not mean you have to lose your home. It may be possible to keep your home if the value has depreciated, or there is a second mortgage. If this is not the case, find out more about Homestead Exemptions you might qualify for if you meet certain financial requirements.

Unsecured Debt

TIP! Refrain from feeling shameful about your bankruptcy. The bankruptcy process makes people feel guilty and ashamed.

Look into filing Chapter 13 bankruptcy. With a regular income and unsecured debt below $250,000, Chapter 13 is probably best for you. Not only can you repay your debts through consolidation, personal property can be kept, as well as real estate. This repayment period usually lasts from three to five years. If you make your payments faithfully during that time, any remaining unsecured debt will be eliminated. Missing a payment under these plans can result in total dismissal by the courts.

TIP! Bankruptcy is a hard thing to experience and it could create both emotional and mental stress. Working with a good bankruptcy lawyer can help make the process a lot smoother and less stressful for you.

If you can afford to pay your bills, bankruptcy is not a wise option. Although bankruptcy might seem to be an easy way of being able to pay for your debts, you must remember that it is something that will remain roughly about 7 to 10 years in your credit report.

TIP! Do your homework so you thoroughly understand the laws pertaining to bankruptcy before you file. For instance, you need to know not to shift assets into someone else’s name in the year leading up to your filing.

See if your attorney can help you lower your payments if you want to keep your vehicle. Filing under Chapter 7 is usually a good way to lower your payments. Your car must have been purchased more than 910 days prior to filing, be a high interest loan, and you must have had a steady work history for this to work.

Chapter 7

TIP! Be careful how you pay off any debts prior to filing for personal bankruptcy. The bankruptcy code stipulates that you cannot make certain payments to creditors or family for specified periods of time before filing.

When you are looking at a Chapter 7 personal bankruptcy, you may well have debts to worry about for which you share responsibility with another person, such as a spouse, family member, or business partner. You may have your responsibility for your portion of the loan discharged under Chapter 7. Creditors, however, will hold the co-signer liable for the entire balance of the debt.

TIP! One thing to consider is that filing bankruptcy might be a better alternative to making late payments or missing payments completely. Your credit report will show your bankruptcy for the next ten years, but it will also allow you to start working towards repairing your credit immediately.

It is important to understand your rights when you file for bankruptcy. There are bill collectors who will claim that you cannot add your debts to your bankruptcy case. Most states allow for the majority of debt to be included on a bankruptcy. If a bill collector attempts to say their bill cannot be discharged, look it up. If they are wrong, report them.

TIP! A lot of people who file for bankruptcy swear they will never use credit of any kind ever again. This is not wise, since credit cards can help to rebuild credit.

Before filing for bankruptcy, establish the fact firmly in your mind that you have nothing to be ashamed of. It is not uncommon for bankruptcies to elicit feelings of guilt, remorse and embarrassment. These feelings do not help you and provide no value. To best deal with filing for bankruptcy, look for the positives in the situation.

TIP! Write down every debt you have. The list will be a fundamental element of your bankruptcy petition, and therefore it is important not to omit anything.

Bankruptcy should not be put off until the very last second. Some people think that by ignoring financial problems, they will just disappear. This kind of thinking could prove to be a mistake. Debt can snowball very fast, and by ignoring it, you increase the chances of worse problems, such as foreclosure and wage garnishments. Once you’ve decided that you can’t manage your large amount of debt, it’s time to contact a qualified attorney.

TIP! When you have reviewed all of your options and found that bankruptcy is the only viable one, be sure to find out everything there is to know about bankruptcy laws in your state. Your financial future is at stake, so arming yourself with knowledge and staying proactive by engaging in the process with your attorney, helps ensure a more favorable outcome and better protects your financial future.

Consider your options before deciding to file personal bankruptcy. You may want to consider credit counseling. There are many non-profit debt counseling services available. They will work with your creditors to get your payments lowered and your interest lowered as wll. Payments are then made to the creditor via the counseling service.

TIP! Student loans can complicate your bankruptcy case and make it hard to have them removed. While it can vary from state to state, many areas make it difficult to successfully discharge student debt.

Be cautious if you are planning to pay off any of your debts before you file for bankruptcy. Bankruptcy laws generally prohibit certain creditors from being paid back 90 days before filing and family can be around a year! Study applicable regulations prior to making any financial choices.

TIP! Make a list of all of your concerns before you see your lawyer for the first time about your bankruptcy. Attorney’s are costly so be sure to get a free consultation to interview several lawyers before you hire one.

One thing to consider is that filing bankruptcy might be a better alternative to making late payments or missing payments completely. It is true that a bankruptcy stays on your credit record for ten years, but you are freed to start improving your credit immediately. One of the best benefits to bankruptcy is the promise of a fresh start.

TIP! Educate yourself on all personal bankruptcy laws. If you can’t afford to hire a lawyer to handle your bankruptcy proceedings, it can be tempting to do-it-yourself.

As you have seen, filing for personal bankruptcy can be complicated. You may become overwhelmed with the process. If that begins to happen, always refer back to these tips. Take some deep breaths, and think about what you’ve just learned. That way, you stand a better chance of making a wise decision.

Hold Off On Bankruptcy, Read This Tips First!

TIP! Ask yourself if filing for bankruptcy is the right thing to do. You have other choices, including consumer credit counseling.

Deciding to file for bankruptcy is not an easy decision to make; but, in some cases, it is necessary. Going through this ordeal is easier when equipped with lots of solid advice. Continue reading for good advice from others that have filed for bankruptcy themselves.

TIP! If you are truly faced with bankruptcy, avoid blowing your savings or retirement money, trying to pay off debts. Unless there is no other choice a retirement account should not be used.

Before making the decision to file for bankruptcy, be sure to do some research and learn all you can about the subject. There are many websites available that offer this information. Many sites, including the U.S. DOJ, along with a number of other bankruptcy institutes and attorneys specializing in bankruptcy can give you invaluable information. You will find that the process of filing for personal bankruptcy is easier and less of a hassle with the more information on the subject you gather ahead of time.

TIP! Be warned that after your bankruptcy, you may stand out as a leper to credit institutions. You may be unable to get a simple credit card.

Ask yourself if filing for bankruptcy is truly your best option. Consider any other options that are available to you, such as consumer credit counseling. Your credit record will be harmed by a bankruptcy filing, and therefore prior to making such a decision, it is wise to investigate other options in order to minimize the damage you suffer.

TIP! Use a personally recommended bankruptcy attorney instead of one found through the Internet or phone books. Some companies just want to take advantage of you, so it is important that you have help from someone you trust.

Ensure that you are providing genuine details when filing a bankruptcy petition, because honesty is the best policy when dealing with bankruptcy. Not hiding any assets or income is essential for avoiding possible penalties and your ability to re-file at some point in the future.

TIP! If you are meeting with a lawyer to discuss bankruptcy, the initial consultation should be free so ask every question you have. When you arrive at a consultation ask plenty of questions.

Try going to a personally recommended bankruptcy lawyer instead of using a phone book or the Internet. There are so many dime-a-dozen companies out there who make it a practice of preying on financial desperation. You need to make sure your bankruptcy goes smoothly, so find someone you know you can trust.

Personal Bankruptcy

TIP! You need to educate yourself on the differences between Chapter 7 and Chapter 13. Chapter 7 bankruptcy completely wipes out your debt.

If you are about to file for bankruptcy, then make sure you hire a lawyer. Personal bankruptcy is quite complex, and it is entirely possible that you will not be able to familiarize yourself with all the laws and processes. Choose an attorney versed in personal bankruptcy to make sure you don’t make mistakes.

TIP! Prior to choosing a bankruptcy attorney, seek a free consultation with at least three attorneys. It is important to meet with the actual lawyer, because paralegals or assistants cannot give you legal advice.

Know the differences between Chapter 7 and Chapter 13 bankruptcy. Chapter 7 eliminates all debts. The ties with the creditor will be broken. If you choose to file for Chapter 12 bankruptcy, you’ll be put into a 60-month plan for repaying your debts before they’re eliminated. When choosing the type of personal bankruptcy that is correct for you, it is very important that you know the differences.

Interest Rates

TIP! If you have a co-debtor, consider the ramifications that filing a Chapter 7 bankruptcy will have. When filing Chapter 7, you are not longer liable for the debts that you and a co-debtor signed for.

Don’t automatically assume that bankruptcy is your only option. Instead of rushing into bankruptcy, a good idea is too speak with an attorney who may be able to get your interest rates reduced or help get you on a debt repayment program. Look into loan modification plans if you need to deal with an imminent foreclosure. The lender is able to help you in a number of ways, such as reducing interest rates, eliminating late charges, and even lengthening the loan, giving you more time to pay. Above all else, what creditors want is to get their money. Sometimes they would rather settle for a repayment plan instead of a debtor who is bankrupt.

TIP! Know your bankruptcy rights. Do not take debt collectors at their word when they tell you that a specific debt can’t be discharged through bankruptcy.

If keeping your vehicle is of great concern, ask your lawyer if you can secure a payment modification. Chapter seven bankruptcy often provides for the lowering of payments. There are a few requirements that you have to meet to be eligible, though. You have to have bought the car more than 2.5 years ago, your loan’s interest rate needs to be over a certain amount, and your employment history has to be good.

Chapter 7

TIP! Understand the rules and laws before submitting your petition for bankruptcy. If you do not file for bankruptcy properly, you might run into a lot of different issues.

Remember that filing for Chapter 7 personal bankruptcy will not just affect you. Think about the effect it will have on business associates, friends and family or anyone else who may be a co-signer with you. Debts that involved a co-signer can be discharged in Chapter 7 bankruptcy. However, the creditors could come after your co-signer and demand full payment for the debt.

TIP! Never take big cash advances from the credit cards that you own prior to filing for bankruptcy, even though you know that the debt will be erased. This could be considered as fraud, and you may even be forced in paying all of it back to credit card companies.

Make sure you act at an appropriate time. In bankruptcy filing, timing is quite important. While there are times that it is ideal to file soon, there are other times in which you should wait. The professional advice of a bankruptcy lawyer can help you pin down the best time to file given your current financial state.

TIP! Know that ultimately, bankruptcy could get you a higher credit score than to keep making late payments or missing payments altogether. While bankruptcy will haunt your credit history for up to ten years, your damaged credit will start healing right away.

Don’t wait until the last minute to file bankruptcy. The judge reviewing your petition will consider your recent behavior, purchases, income and payments when making a decision. It is easy you to lose control of your debt, and avoiding the problem will make things worse. Once you are aware that your financial situation is not manageable any more, your best bet is to speak with a bankruptcy attorney and find out what he or she recommends.

TIP! Before filing for bankruptcy, it is important to still be smart with your finances. It is important not to make your debt larger just before bankruptcy.

Prior to filing, it is important that you know all about bankruptcy laws. You should not transfer your assets to anyone in the year preceding your bankruptcy filing. Also, you must never incur significant new obligations must prior to filing for bankruptcy.

TIP! If you think bankruptcy is an option, you will need to hire a bankruptcy attorney. The job of a bankruptcy lawyer is to clarify your need to file, stand with you before the court and make the process easier.

When filing for personal bankruptcy, always supply all of your financial information. If you forget information you run the risk of having your petition delayed, or possibly even dismissed. Even if it looks insignificant, you must add it to your documents. Don’t forget about side jobs, loans you’ve taken out or vehicles that might count as assets.

TIP! It’s important that you understand that bankruptcy is not a way to get out of paying tax debt. Some filers pay their taxes due with a credit card and then file for bankruptcy.

Adopt a positive attitude toward filing for bankruptcy and researching the topic. It is difficult to admit that you are in over your head financially, but waiting will just make the problem worse. By speaking with a professional in a timely manner, you can get good advice before the bankruptcy process gets too difficult.

TIP! Chapter 7 bankruptcy does not automatically eliminate all of the money you owe. You may be required to negotiate new payment terms with some creditors and there are some debts that are never discharged.

Nobody wishes to file for bankruptcy, but there are cases where it is simply necessary. Now that you’ve read over this article, you learned some things that are from others who have experienced this too. Taking time to learn from those who have traveled this road before you will make your own journey less stressful.