When your back’s against the wall and things aren’t going well, you may have a few debts that you’re struggling to pay back. In that case, you’ll quickly need to learn how to deal with debt collectors. Otherwise you’re going to have them pestering you day and night, asking for their money back.
Luckily, there are a few things you can do to cut down on the nagging.
Cancel Your Phone Number
This may sound like something you don’t want to do, but think about it. If you have someone calling you every day asking you about your debts, aren’t you getting sick and tired of it? If you could do something that would make them stop, wouldn’t you do it?
Granted- it is not the most convenient thing in the world. You would have to tell your friends and family about your new number. You would probably need to tell a few other people as well like your work or school. But at the end of the day, it will be worth it because it will be harder for the debt collectors to get ahold of you.
Find Ways to Make Money on the Side
This isn’t as much about getting the debt collectors to leave you alone as it is about paying back the debt faster. The collectors may still keep calling as you start paying it back, but at least you’re moving closer towards being out from under the heavy burden of debt.
There are a lot of options to consider, but the main two are getting a part time job or freelancing from home. Neither of these will make a ton of money for you, but it should be enough to at least start paying off your debt.
Talk to Debt Consolidation Organization
If you have a lot of debt that you just can’t pay back, consider talking to a debt consolidation organization. These are usually companies that help people consolidate their debts into a lower monthly payment so they can make payments and actually live a life at the same time.
There are a few things to watch out for though. The first is to make sure it’s a highly respected company. Lots of advertisements on the radio make it sound like they’re out to help you, but you can’t really know until you do a bit of research.
Another thing is that even if you get a lower monthly payment, you may be paying for a longer period of time. That’s because these companies may have to negotiate a longer term to get the debt collectors to agree.
Talk to a Lawyer
Depending on how much debt you owe, you may want to consider talking to a lawyer. Their services aren’t cheap, so the best bet would be is if you can talk to a friend, someone at your church, or any other lawyer that may be able to answer your questions for free.
Just keep in mind that most lawyers don’t specialize in debt or tax law. You may have to do some digging before you find the right person to ask.