Credit card debt is no walk in the park. They must be dealt with at the earliest. While addressing such an issue, the process of going about it must be chosen smartly.
Credit Card Debt Settlement
Before approaching any creditor, you need to have all the necessary documents with you – last bill copy, letter from the creditor, the specified amount to be paid for the settlement. As debt is a sensitive issue, collectors never shy away from diving into your personal information such as phone number, residential and office address etc in order to get you to make the payment. In a few cases, these collectors are familiar with settlement cases. The rest of the majority clearly refuse settlement agreements. Your first job is to convince the collector that you are open to making a payment or rather a settling agreement.
There are certain points to be kept in mind while conversing with a collector.
- If you are not able to convince him, end the conversation on a polite note.
- As most calls are monitored, never use profanity. It also usually rubs off collectors in a bad manner.
- A manager of the department or a supervisor is the person to talk to as they look at settling payments in a reasonable way.
- Send a letter informing the head of the company or the manager about your mode of settling the account by payment. It is advised to provide detailed information on the same.
- Keep a note of the collector or supervisor you converse with as it come in handy in later stages in the event of payment disputes.
- Ensure to get a written letter from the collector in case a payment has been settled upon for hard evidence.
Your ultimate goal is to make a settlement that renders you a much more controllable account. All your financial charges, upper-limit fees and late fees would be eliminated from your account balance.
As a consumer, make sure you are aware of your rights. Do not let any collector intimidate you or mistake you for an ignorant individual.
