Avoidance is Part of the Solution for Your Debts

There are a lot of things to avoid when trying to come up with a strategy to pay your debts. Mostly, you should avoid situations that can make your debt worse than it already is. And you should avoid situations that could cast you in an unfavorable light such as making promises you know you cannot keep. Here are some avoidance strategies that should be an integral part of the solutions for dealing with your debt:

Avoid promises to collection agents that you cannot keep. If you don’t have an answer for them and they continue to try and press one from you, politely tell them that you cannot discuss this at the present time and you will let them know when your status changes and you can pay. Avoid agreeing to a payment amount to get your credit account back on track until you have come up with a budget and know for sure you can meet their payment amount. Don’t give them a postdated check or let them enroll you in an automatic debit from your checking account. Keep control of your debt plan and strategy at all times.

Avoid phone discussions about your debt. The telephone is not a good way to document agreements between parties. First of all, too much gets misunderstood without the visual non-verbal communication. Second, unless you are recording the conversation, the proof of the agreement is one-sided because you can almost bet the creditor is recording it. The best way to communicate agreements that could be used in a legal proceeding is to send them via certified mail and return receipt requested.

Avoid making further charges to your credit cards if you know you can’t pay. Remember that when you sign that credit card statement, it is a promise to pay. If you know that you will not have the money now or in the near future then don’t pull out your credit card.

Avoid being late on payments. If you are arrears on any credit card accounts, try to get those caught up. Keep in mind that even a partial payment in most cases will keep a credit card account from getting charged off and sold to a junk debt buyer (collection agency). In most cases it can buy you enough time to find a job or get into a debt management program.

Avoid automatic debits to your checking account. When you are having debt problems and your financial condition is in shambles, automatic debits can put you in worse shape. Most people tend to forget the automatic debits when debt problems arise. If there are insufficient funds, you could be left with more debt in the form of overdraft fees.

Avoid becoming a victim of a hopeless attitude. It is not easy finding solutions to overwhelming debt. During a period like this, it can seem as if you are alone and lost in the big ocean of sharks. Seeking the advice from a credit counseling company can be helpful if you really need to talk. But you have to keep up your hope that with hard work and diligence your debt problem will pass eventually.

Avoid staying where you are at if it is not working for you. Oftentimes, economies become depressed in your local town and you find yourself out of work with no prospects for a new job. Never remain where you are at if you need to move to a town where there are better job opportunities. It is best that you try to get a job before leaving but in some cases you might be able to move in with family living in another town for a temporary time while you get your feet back on the ground.

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