Finding yourself with unmanageable debt can be an incredibly difficult situation that puts pressure on all aspects of your life and has negative effects on you personally. Thankfully there are options available to you in order to pay off the debt that you owe but you must face up to the facts in order to do so. Avoiding your debts will not solve anything, in fact they will make it worse and you should work together with a debt collections company in order to pay back what you owe in manageable chunks.
Debt collection agencies are not the evil companies that you may picture, they want a solution just as much as you and there are some great companies out there who want to help you. For example Brennan & Clark, a collections company that has been around since 1980, working with companies and individuals to resolve debt issues using a variety of systems and techniques to help all involved. Remember that the collections company is there to help you and here is how you should deal with them.
When you are first contacted by a collections company, transparency is key on both ends, you should ensure that firstly, all the information that they have about you is correct, personal information and how much money you owe and to who. Once you have established this, you should be completely upfront and honest with the agency about your current situation. Remember that they are trying to find the best way for you to pay off your debt in the quickest possible way, giving them an honest account of your income and expenditure is the best way to do this.
It is important that you have a point of contact within the agency, having someone who knows your details and your situation will not only make things easier for you, but will help to support you. Take the name and the extension number of the person that you speak to and ask that you only speak with them about your account. Communication is also key whilst you are paying the money back, if something changes with your financial situation for the better or worse then it is important that you speak with the agency to alter any payment plans that you have with them.
Get it in Writing
It is important that you protect yourself during this process and one of the best ways to do so is by getting everything that you put in place with the collections company in writing. Doing this gives you proof of your agreements and the peace of mind when it comes to the details. It is important that you keep all documentation in a safe and organized place so that you can reference it should you need to in future. Remember that paying the money back is your responsibility, the collection agents are just there to help you do so, therefore you should take ownership of your debts and any agreements that you make to clear them.