Credit Problems? Heres How to Manage Your Creditors

If you find that creditors are calling you almost daily or that one of more of your bills has been turned over to a collection agency, you should know how to manage your debts.

First, prioritize then or rank them in terms of the ones that can give you the most trouble the soonest. If you're three months behind on your utility bill and the company is threatening to cut off your power, you must deal with this debt first. Then deal with your other debts in descending order of "threat level."

Second, be proactive. Don't wait for creditors to call you. If you are behind in your payments or have a payment coming due that you know you won't be able to meet, call the creditor. Tell the company's representative why you are having money troubles. Be sure to give a real reason for your problems such as a divorce or loss of a job, and not just some feeble excuse.

If you can give your creditors a real reason for being in financial trouble, they may be sympathetic and willing to work with you.

Next, contact any creditors where you are more than a month behind to arrange payment plans. Explain to them that you know you are behind in your payments but that you want to make a payment arrangement. Let them know what you can afford to pay this month and in future months. Make certain they know you intend to make full payment eventually.

Be sure you know what you can afford to pay

Be sure to calculate just how much you can afford to pay a creditor before contacting the company. Then, do not agree to pay any more than this, no matter what the company demands. Get all payment plans in writing. If the company's representative does not volunteer to mail you the plan in writing, send a letter requesting that he or she do so.

Keep accurate records

Also be sure to keep an accurate log of all phone conversations with your creditors and copies of all correspondence. This way, you will have a good record of what's going on, to whom you spoke last, the date of that conversation and its result. If you keep accurate records, you will always be able to defend yourself against claims that you have been unresponsive or uncooperative. Once you arrange a payment plan that is agreeable to a creditor, make sure you stick with it. The best way to repair your credit is to say what you will do and then do what you have said so that your creditors will see that you have become more credit worthy.

Working with your creditors by following these suggestions is hard work but it is an important step toward debt reduction and credit repair.

For FREE help with debt and credit, subscribe today to Douglas Hanna's free email newsletter "8 Simple Steps to Debt Relief" at http://www.all-in-one-info.com

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Google News Updated : Wed, 09 Jul 2008 07:08:13 GMT McCain, Obama court Latino group - Los Angeles Times Voice of America McCain, Obama court Latino group Los Angeles Times - 2 hours ago Sen. John McCain addresses the League of United Latino American Citizens in Washington, DC. today. McCain plans to tell the Latino advocacy group that the nation must secure its borders "while respecting the dignity and rights of citizens and legal ... Candidates talk up Latino connections Boston Globe Candidates woo Hispanic group USA Today New York Daily News - Houston Chronicle - San Francisco Chronicle - Milwaukee Journal Sentinel all 500 news articles Publ.Date : Wed, 09 Jul 2008 04:56:13 GMT Iran test fires long and medium range missiles - Reuters Malaysia Star Iran test fires long and medium range missiles Reuters - 1 hour ago By Fredrik Dahl TEHRAN, July 9 (Reuters) - Iran has test fired nine long- and medium-range missiles, including one which it has previously said could reach Israel and US bases in the region, state media reported on Wednesday. Iran Test-Fires Missile Capable of Reaching Israel (Update1) Bloomberg Iran test-fires Shahab-3 long-range missile RIA Novosti BBC News - Monsters and Critics.com - International Herald Tribune - Jerusalem Post all 347 news articles Publ.Date : Wed, 09 Jul 2008 06:02:53 GMT Cheney's staff censored EPA, ex-official alleges - Boston Globe Washington Post Cheney's staff censored EPA, ex-official alleges Boston Globe - 1 hour ago WASHINGTON - Members of Vice President Dick Cheney's staff censored congressional testimony by a top federal official on the health threats posed by global warming, a former official of the Environmental Protection Agency said yesterday. Cheney’s Office Said to Edit Draft Testimony on Warming New York Times White House in climate change "cover up" Reuters San Francisco Chronicle - USA Today - ABC News - Wall Street Journal all 564 news articles Publ.Date : Wed, 09 Jul 2008 05:36:02 GMT Hunger for victory defines Obama - Financial Times BBC News Hunger for victory defines Obama Financial Times - 2 hours ago By Edward Luce in Washington When Democrats criticise John McCain, they first praise his honourable military record. When Republicans do the same to Barack Obama, many begin by conceding that he is an “attractive and talented candidate”. Video: AP Campaign Minute AssociatedPress McCain, Obama Trade Early Fire in TV Ads FOXNews ABC News - KVBC - The Associated Press - Newsweek all 2,342 news articles Publ.Date : Wed, 09 Jul 2008 04:54:07 GMT VMware Ousts CEO Diane Greene - BusinessWeek Boston Globe VMware Ousts CEO Diane Greene BusinessWeek - 1 hour ago by Aaron Ricadela VMware ended a long-running battle over its strategic direction on July 8, ousting co-founder and CEO Diane Greene and installing Microsoft veteran Paul Maritz in her place. EMC Replaces the Chief and Co-Founder of VMware, Silencing Talk of ... New York Times VMware CEO abruptly replaced SiliconValley.com Wall Street Journal - Forbes - MarketWatch - San Francisco Chronicle all 361 news articles Publ.Date : Wed, 09 Jul 2008 05:13:27 GMT Reiser deal ultimately hinges on judge's OK - San Francisco Chronicle Washington Post Reiser deal ultimately hinges on judge's OK San Francisco Chronicle - 44 minutes ago (07-08) 17:14 PDT OAKLAND -- The defense can ask for a deal in a murder case like Hans Reiser's, and the prosecution can sign off on it, but it's the judge who has the final say. Reiser takes plea deal for lesser sentence San Jose Mercury News My interview with murderer Hans Reiser Salon San Diego Union Tribune - SiliconValley.com - The Associated Press - CNET News all 654 news articles Publ.Date : Wed, 09 Jul 2008 06:23:31 GMT Cheesesteaks, troops withdrawals and cigarettes that kill Iranians… - FOXNews Cheesesteaks, troops withdrawals and cigarettes that kill Iranians… FOXNews - 4 hours ago by Mosheh Oinounou PITTSBURGH, PA - Sen. McCain, joined by his wife Cindy, made a previously unannounced visit to the Primanti Brothers Restaurant and Bar, a famous Pittsburgh-area sandwich shop, Tuesday evening for a retail stop-turned media ... Caution: Can Iran cigarette jokes be dangerous to McCain's ... Los Angeles Times McCain jokes about killing Iranians with cigarettes Reuters The Associated Press - Washington Post - ABC News - Tribune Review all 156 news articles Publ.Date : Wed, 09 Jul 2008 02:11:13 GMT RSS Software Website Traffic Promotion

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