Debt collection agencies can be very difficult to deal with when you are already stressed out and dealing with the fact that you have debt you have not been able to pay. They have become an accepted part of society even though they often use ruthless tactics and constant threats to get the money for the debt their company has purchased.  Many feel their only option for dealing with these companies harassment is to ignore the phone calls or hang up if they pick up the calls by accident, but there is another answer, negotiation, and it is time for Americans to not only get out of debt but, start to bite back!

Find Out How Much You Really Owe:

When debt collection agencies buy debt, they often buy the accounts in bulk. Because of this, there are often errors in the amounts that they say you owe. Make sure to check the original account before starting the process of getting the debt collection agencies off your back! Once you know the correct amounts, you know what you’re starting amount is when you negotiate.

Organize All of Your Bills:

Now that you know what you owe, get organized, make a spreadsheet or join a budgeting app so you can keep track of what apps you are negotiating and paying off! This way you know what you have settled and what payments you have to make and when. You don’t want to let any more bills go into collections again. This will be the end of dealing with the debt collection sharks!

Settle the Total:

Go down your new list, call each agency and settle the amounts you owe for each and every bill. Don’t let them use their bullying tactics on you! They will try to tell you the deal will expire and you have to settle in one phone call. You don’t. You have the power because they want you to pay off the bill. Push to see how low they will go and how many payments they will let you split the bill up into to make it as affordable as possible for you!

If you don’t feel comfortable doing this part of the process on your own, you can hire a debt settlement agency to help you! They will do the negotiating for you and set up your payments, just make sure they know what your ideal budget needs to be. Also make sure they don’t ever tell you not to stop paying the bills you have that are not in collections. This will not make things better for you. If you speak to an agency that suggests this, hang up and call another one. There are honest agencies out there you just have to do a little research!

-Make sure once you have your settlement amount, that you get it in writing before you pay anything to the debt collection agency! You don’t want them coming back saying they never agreed to the new amount. Also, make sure you always get the name and ID number of the employee you negotiate with as added proof of negotiation.

Set Up Your New Budget:

Now that you have all of your new settlement amounts, set up your payment dates and amounts. Organize when your payments will go out and stick to your new budget! This way you can stay organized and climb out of that debt as quickly as possible!

Live Your Debt Free Life:

As you finish paying off your debts, enjoy your freedom from the debt collection bullies! No more harassing, threatening calls and sleepless nights! Once your settlements are paid off, make sure you start saving to help set up financial stability for yourself so you can stay out of debt and keep your freedom for your future!