Debts are always terrifying thing to deal with, especially if it is the debt of credit cards. Credit cards debt is such a thing that puts our life in great danger any time if it’s not handled with care. Thus a good and effective credit cards debt settlement program is really appreciable for all those are stuck in the black hole of debts. It is not possible now to stop using credit cards, but what we can definitely do is to reduce the use and try to pay the interest on time every month, try to avoid the late payments.
If these things cannot help one to get out his or her debt then the only one way is left for one is to go for a credit cards debt settlement program. Normally this kind of programs are arranged and planned by the professional debt settlement companies and in most of the cases they become successful in giving their client a good and helpful assistance. But you can try it by your own too. And if you believe that you are good in speaking with people, handling odds and building good relationship then it is always favorable to do credit cards debt settlement program by your own self. Negotiating with creditors yourself can save you money, but it is not without pitfalls. So be sure that you can handle the whole situation and then make the go for it. There are some steps to follow while doing the credit cards debt settlement by your own. Here also you have to follow a debt settlement strategy to recover your financial condition.
When you have made your mind that you will do it alone and just about to call the creditors make sure that you are prepared with some documents.
1. A copy of your most recent bill.
2. A specific amount you are able to pay should a settlement be reached- either a lump sum or a monthly payment amount.
Make the call:
First and foremost thing to understand is you owe them lump sum money so don’t expect the collection department to be cordial. But before anything you should be sure on the reality that you have to make the payments and you want to as well.
Talk in a serious manner:
Let them understand that the whole matter is very much serious for you and you want to give it a positive end. Try to speak to the relationship manager concerned and covey your stand clearly and vividly. Also keep a note of the name, designation date and time you had conversed. This may help you in case of any dispute during the settlement program.
Talk politely; you are there for a negotiation and not for an argument. Using of profane language only makes things worse. Remember, most calls are actually monitored and recorded. Place yourself at their end and try to see the picture.
Offer Favorable Credit Settlements:
The goal of settling an account is to get it reduced to a manageable amount. You want all late fees, finance charges and over the limit fees removed from your account. So choose the most favorable credit cards debt settlement program for you. But at the same time keep it in mind that it must not just in your favor.
Keep a Written Document:
Always get a letter from the creditor with the agreed upon amount of the settlement or similar payment arrangement. A verbal agreement isn’t valid in many states and it would be your word against the collector.
Hence a do it yourself credit cards debt settlement is possible if you prepare yourself. Know the laws and rights of you as a consumer so that no one can make you a fool. Just try to make the process smooth as it can be. Avoid any kind of conflict.