In today’s economy, it’s an all-too-common occurrence. People pay for everything on their credit cards, or spend so much time ordering merchandise online that they begin to lose track of it all. Soon the collection agency starts sending letters – and you’re so lost you don’t even know where to begin.
If you want to get a collection agency off your back once and for all, it will require one thing: discipline. That’s it – that’s the solution. But that doesn’t mean discipline will always be easy to maintain. So here’s a guide to ensure that you don’t fall back into old habits – and that the collection agencies no longer have any reason to bother you.
Prevention: The Best Cure?
There’s an old saying that an ounce of prevention is worth a pound of cure. If you don’t currently struggle with any collection agencies, then now’s the time to be sure that you never do. Pay off your credit card in full every month. Don’t fall prey to Internet scams; instead, buy from reliable vendors like Amazon.com if you have to get your regular online shopping fix.
Prevention is indeed the best cure, but there’s only one reason for that: it takes advantage of time. Unfortunately, some people are already being chased by the collection agencies and don’t have enough of this valuable resource.
A Plan: Get Out of Debt Starting Today
If you haven’t taken a look at your finances, it’s time to gather everything. Get all of your paperwork into a neat file and start tabulating everything you have. You don’t have to draft every single detail of your plan today, but what you can do to start is to get a mental hold on all of your debts. In some cases, you might see that your debts are easily payable… you just never bothered to look!
But if you do still have debts to get out of, it’s time to start planning them. Look at the most pressing debts you have and pay them off first. If you need to make a sacrifice in some cases, do it – you’ll thank yourself later.
Legal Avenues at Your Disposal
Getting out of debt is not always as simple as paying what you have. In some cases, you might need to seek a lawyer to find the kind of protections you simply can’t offer yourself.
You’ll find a lot of advertisements for lawyers that offer help exclusively for people in debt. These are not bad people to visit – in fact their experience often makes them one of the most efficient solutions you have at your disposal. But make sure you find a reputable group to work with.
If your debts are very serious, it may be time to consider Chapter 7 or Chapter 13 bankruptcy in order to shake off your debts and rebuild your finances – but don’t take this step until you’ve spoken with a financial expert already. They’ll help you understand the risks and benefits to these protections.