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Debt Step By Step Guide:
Introduction
How To Beat Debt
Making A Debt Relief Plan
Review Expenditure
Prioritise Your Debts
Contacting Lenders
Debt Consolidation
Credit Card Debt Transfer
Maximizing Income
When You're Out Of Debt
Debt Articles:
Your Rights
Court Proceedings
Do's & Don'ts Of Debt
Writing Letters To Lenders
Christmas Debt
Student Debt
Bankruptcy
Homelessness
Debt Helplines
Debt Company Reviews:
Christian Debt Helpers
Christian Debt Network
Christian Debt Removers
Christian Debt Trust
Educational Direct Review
Expert Debt Solutions
FinancialAid.com Review
Find Debt Relief
GoApply Review
Superior Debt Relief
Others:
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Glossary
Links:
House Buying Guide
Avoiding Debt in College
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Debt Help - Debt Management GuideDebt Management Articles - Contacting Lenders
A lot of creditors will charge for all the phone calls and letters they send you asking for the debt to be paid off so it is advisable to send them one letter explaining the situation and asking them for possible solutions that will make it easier to pay off.
You should include this in letters to them:
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An explanation of your problem with paying off the debt. Try to arrange a better repayment that suits your situation. Paying off over a long time may be suitable but may increase the overall amount you pay. This would make it easier to pay off other debts that have higher priority in the short term.
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Try to get the lender to freeze your interest so you do not end up paying more than you can afford to in future. Do not offer to pay back more than you can afford to, only pay back more at the end of the month if you have spare money and make sure you are in understanding that this extra is a one off.
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Show the creditors that you are trying to pay off your debt. Including a copy of your Expenditure Review and your debt plan could be a good idea.
Some of your creditors staff may be unhelpful – Do not be put off, ask to contact someone higher in the firm and if they are still unhelpful complain to the relevant association.
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