The Debt Advice Team have extensive experience in negotiating lower, affordable monthly payment agreements for many people across Ireland. We find that many of the people who contact us avoid contact with their creditors when they are in arrears with their payments as they feel unsure on how to deal with their creditors, or are unaware that they may be able to negotiate smaller payments.
Dealing With Your Creditors
The Debt Advice Team have extensive experience in negotiating lower, affordable monthly payment agreements for many people across Ireland. We find that many of the people who contact us avoid contact with their creditors when they are in arrears with their payments as they feel unsure on how to deal with their creditors, or are unaware that they may be able to negotiate smaller payments.
The Debt Advice Team have put some helpful tips together for people who are unaware on how they should handle their creditors when they are in arrears.
• Firstly, contact your creditor by letter, email, fax or face to face rather than by the phone, any contact you do have by phone, ensure you time and date the call and obtain the name of the person you are speaking to. We also advise you send a follow up letter after each agreement has been made by telelphone.
• Complete your own income and expenditure form by calculating all your outgoings against your income you can show creditors what you can realistically afford.
• Don’t agree to pay more than what you can afford, set a limit to what is realistically affordable. Send a copy of your income and expenditure form to your creditors as proof of affordablility.
• Do not come over as aggressive when contacting your creditors, this will not help your situation, and remember to always stay open and honest about your situation and remain calm.
• If an agreement has been made, ensure that you receive a copy of this in writing.
• Ask interest rates to be frozen, or reduced, to help you get your finances in order, to give you a better chance to get your debts payed.
• If the person you are speaking to isnt being helpful, ask to speak to a senior member.
• Its important to ensure your creditors, that should your circumstances change, you will revise you payment offers.
• Do not be afraid of having your account passed onto debt collection agencies, or being summoned to court, it could actually work in your favour.
For more information or advice about dealing with your debts and your creditors, get in touch with The Debt Advice Team on free phone 01657 5602 to speak to an experience debt advisor today!