Handling Creditors When You Can’t Pay Your Bills
April 6, 2008
It can be very challenging to keep creditors from hounding you if you don’t have enough money to pay the bills. However, there are some things you can do to keep your accounts out of the hands of collection agencies.
Tell Creditors About Your Situation
It may be hard to believe at times but creditors are people too and they are often more willing to work something out if you tell them you are facing financial difficulties. One method that can be effective particularly with a medical bill is to simply write the doctor a letter and explain your situation. Your doctor may be willing to work with you and give you extra time to get your account current.
Pay Small Amounts.
This will at least keep your accounts from being sent to collections. If you have several bills, just pay what you can even if it’s just five or ten dollars. This will also show that you are interested in paying off your debt.
Don’t Create Unnecessary Bills.
Some expenses such as medical care are necessary but many others aren’t. By eliminating purchases for things you don’t really need, you’ll have extra money left over to either save or put towards getting out of debt. Shop using cash instead of a credit card. When you use a credit card, you’re spending money you haven’t earned yet and you may find yourself playing “catch up”. When you buy with cash, at least you are immediately paying for the item even if it was a frivolous purchase. Avoiding unnecessary bills helps keep the creditors away.
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