A little patience can actually save you thousands on your delinquent credit cards. The economy is only now starting to show signs of recovery and there are literally millions of Americans still struggling to make ends meet.
The fact that the economy has been bad and people are struggling has made headlines in every newspaper across America. Most people will attempt to do the right thing when it comes to the credit card obligations. The collection industry prey's on the vulnerability and the desire to do the right thing. Do not be fooled into thinking the person on the other side of the phone is a friend or truly understands your current position. They do not care, the collectors are calling for one reason and one reason only, to get you to pay them off or at least commit to paying something.
The collectors will sound smooth and caring until they realize they are not going to pull one over on you. when a collector calls, ask for their complete name, the name of the company or creditor they are calling for and their phone number. Now the fun part, hang up on them, by law they are only allowed to call once per day and if you take these steps and write the information down on a log the next time they call you will be prepared. If they violate the federal law concerning the number of calls you can use this against them when you attempt to settle the account.
Also never divulge personal facts such as issues within your family, employment concerns, drugs or alcohol excreta. The collectors will use this against you anytime they can and they are not above playing on your emotions or pulling a loved one into the fray.
The collectors will sound smooth and caring until they realize they are not going to pull one over on you. when a collector calls, ask for their complete name, the name of the company or creditor they are calling for and their phone number. Now the fun part, hang up on them, by law they are only allowed to call once per day and if you take these steps and write the information down on a log the next time they call you will be prepared. If they violate the federal law concerning the number of calls you can use this against them when you attempt to settle the account.
Also never divulge personal facts such as issues within your family, employment concerns, drugs or alcohol excreta. The collectors will use this against you anytime they can and they are not above playing on your emotions or pulling a loved one into the fray.
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