The choice is yours. It is always yours. Ignore the problem or talk about positive solutions. Ignoring the problem just means more rain. Pro-active participation leads to brilliant rainbows.to cut or not cut your creditors? what a confused discourse

If you have met with a temporary economic crisis get in front of that crisis with your creditors by calling them to inform them of the crisis and ask politely if there is anything that can be done in the short term to ease your obligation. Be specific about how long you believe you will be impacted but let them suggest a solution. I have personally seen creditors be willing to suspend interest for a short term and even suspend payments for 2 to 3 months. Just be certain that you can live with whatever agreement you reach with the creditor.

When the phone rings we jump and check the caller ID. We don’t know what to do if it is the bill collector one more time. The worst thing that one can do is ignore the caller if the caller is one of your creditors. Ignoring the creditor does not make the problem go away. It does not change the situation. It does not cancel the debt. There are any number of reasons that you have decided not to pay any particular bill at any given time:

In Hawaii there is a nice little saying, “No rain…No rainbows.” It happens to everyone. A little rain falls and all one can see are the clouds, the gray sky, the driving raindrops. But on the other side of the storm is a rainbow, bright sunny skies and bursts of color. When the rain falls on our economic lives there appears to be no escape, no where to turn.

By not talking to your creditors you increase the possibility that they will choose to write the debt off, contact the credit bureaus to report your non-payment as a charge-off, and turn the matter over to a collection agency or lawyer. The debt has not gone away but your credit will be negatively impacted if this is the strategy you choose to use.

Finally, if the problem you are facing is going to be of longer duration it is still valuable to contact your creditors to explain the problem. Let them know you have every intention of paying your bills but you cannot make full or even minimum payments at this time. Ask if they will work with you until your situation eases up. You will be surprised to what lengths creditors will go to not only work with you but to avoid providing the credit bureaus with adverse information if you stay in communication with them.to cut or not cut your creditors? what a confused discourse

Talk to your creditors. If you dispute something let them know. Make your claim over the telephone but always follow up any conversation with a letter summarizing your claim and the response of the person you spoke to on the phone. Keep a record of this correspondence because you will need it again in the future.

Article Source : to cut or not cut your creditors? what a confused discourse