Quick Debt Relief

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=90 BGCOLOR="#006699" TEXT="#080000" background="060fd5a3.jpg"> <div> <FONT SIZE="5" COLOR="#000000" FACE="Arial" ><B>Debt Relief Information</B></FONT><B>     |     </B><A HREF="index.htm" TARGET="_top" TITLE="Debt Relief Information"><U><B>home</B></U></A><B>                                                                    </B><FONT SIZE="3" COLOR="#000000" FACE="Arial" ><B> </B></FONT><FONT SIZE="4" COLOR="#FFFF66" FACE="Arial" ><I><B>Quick Debt Relief</B></I></FONT></div> <div> <A HREF="id17.htm" TARGET="_top" TITLE="Steps to Reduce Debt"><U>Steps to Reduce Debt</U></A>   |   <A HREF="id18.htm" TARGET="_top" TITLE="Managing your Money"><U>Managing your Money</U></A>   |   <B>Quick Debt Relief</B>   |   <A HREF="id80.htm" TARGET="_top" TITLE="Debt Consolidation"><U>Debt Consolidation</U></A>   |   <A HREF="id25.htm" TARGET="_top" TITLE="Credit Counseling"><U>Credit Counseling</U></A>   |   <A HREF="id20.htm" TARGET="_top" TITLE="Liquidating Assets"><U>Liquidating Assets</U></A>   |   <A HREF="id28.htm" TARGET="_top" TITLE="Bankruptcy"><U>Bankruptcy</U></A>   |   <A HREF="id29.htm" TARGET="_top" TITLE="Other Ideas"><U>Other Ideas</U></A></div> <bR> <div> </div> </td> </tr><tr> <td valign="top" width=210 BGCOLOR="#FFCC66" TEXT="#080000" background="061d2b03.jpg"> <div>  <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script>  </div> </td> <td valign="top" height=390 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I>Quick Debt Relief</I></div> <div> If you have a reasonable amount of debt and believe that you have your spending under control but currently can't make the payment schedules, you can try to directly negotiate with your credit card company or other creditor.  </div> <bR> <div> You should try to persuade your creditor to do one (or both) of the following:</div> <div> 1.  Forgive debt - try to get them to forgive some amount of the debt that you owe</div> <div> 2.  Move to a better payment schedule</div> <bR> <div> <B>Prioritize your debt</B></div> <bR> <div> The first thing to do is to prioritize your bills.  Make sure that you are addressing the most crucial.  Think about what is absolutely necessary for you (housing, health insurance, etc.) and what you could live without if service is interrupted (cell phone, etc.).  Also pay attention to the interest rates.  When two services are roughly equal in their importance, prioritize the debt with the higher interest rate.  With you prioritized list, start at the top and try to pay off as much as that as possible.  For amounts that you can't pay off, prepare to negotiate with the creditors.</div> <bR> <bR> <div> <B>Prepare for the negotiation</B></div> <bR> <div> <I>Determine your offer:</I>  Figure out what you're willing to pay to each of your creditors then prepare to offer to pay less than that amount.  The creditor has to believe that you're capable of paying your proposal but that you might end up bankrupt if he refuses your offer.  Also, consider the timing of payments that would work given your income and expenses.</div> <bR> <div> <I>Prepare a script for the call:  </I>Write your introduction and your proposal down on paper.  Think of the types of questions or challenges that you can expect from the creditor.  Have answers prepared for these questions.</div> <bR> <div> <I>Practice with a friend:</I>  It always helps to have some practice before actually speaking to someone.  Have a friend role-play as the creditor and give you a hard time.</div> <bR> <bR> <div> <B>Negotiate your payments</B></div> <bR> <div> Finally, contact your creditor and give your pitch.  Don't expect miracles but be persistent.  If you get an agreement, make sure that you get it in writing.  Don't rush into making a payment until you have confirmation of the settlement in writing.</div> <bR> <bR> <div> <U>External Links</U></div> <div> <A HREF="id46.htm" TARGET="_top" TITLE="MSNs Tips for Dealing with Debt Collecto"><U>MSN's tips for negotiating with debt collectors</U></A></div> <bR> <bR> <bR> <div> <I><B>Next:  </B></I><A HREF="id80.htm" TARGET="_top" TITLE="Debt Consolidation"><U><I><B>Debt Consolidation</B></I></U></A></div> <bR> <bR> <div> <I>Please note</I>:  This website is designed to provide you with information about debt problems. However, this information should not be relied upon.  The information does not constitute professional or legal advice.  We also cannot take responsibility for content on sites that are linked to from our pages.  Always obtain proper legal and other professional advice before undertaking any significant action.</div> <div> Copyright 2004</div> </td> </tr></table></body>