I speak to people everyday who are looking to improve their financial lives. Each day with my family, friends, clients, and anyone else who will listen I advise and encourage them to be their personal best. That is why I enjoy the work I do. I can look at a situation from a different set of eyes and see possibilities that others have been unable to recognize. This brings me great joy and fulfillment to share unique ideas or solutions with enthusiasm. Maybe you’ve had a major financial setback, or you never really learned how to manage your money properly, or the weight of all the economic troubles going on right now have forced you to take a closer look at your financial plan. No matter how you got to where you are today, you are there. Now is the time to find a way out! If creditors are calling you everyday, your judgment is altered. They make you think that their bill is the most important one to pay right now. They make you think you have no other choices other than what they are telling you to do right now. They also make you think they have the power. What you need to know is that YOU have the power and absolutely no one else! You have the power because your income earning potential lies solely in your hands. Your boss can lay you off, but the skills, abilities, and know-how you’ve attained are easily transferable to another position. Your creativity, determination, and strength are priceless and cannot be taken from you. Your creditors can threaten you but the money you earn goes into your bank account not theirs. The power is yours because you determine who gets paid what and when. Never allow anyone to take that from you!
So what do you need to know when facing creditors who are demanding money from you that you may not have right now? Knowledge truly is power so remember these few things:
- You do not have to speak to them if they are being rude, mean or obnoxious. Let them know that if they call to swear at you or threaten you, you will hang up.
- Talk to them no more than every 2 weeks. Tell them that when they call more, you will always hang up on them. Collectors try to call you at breakfast or dinner time, since you tend to be more emotional then (more tired, dealing with kids, stressed, etc). Don't get emotional. If you have talked to them within the last 2 weeks, tell them so and hang up.
- Collectors can't call you at work. If they do, tell the collector that you are officially telling them not to call you at work. Then send the credit card company a certified letter, return receipt requested, saying that you have told them not to call you at work.
- Collectors go over the top and try to scare you into paying them before buying food or paying the light bill. Tell them that your necessities (food, shelter, transportation, etc) are more important. You pay them after your necessities.
- Never give a collector electronic access to your checking account or send them post-dated checks. If you do, they will clean out your account because you legitimately owe them the money.
When we are vulnerable and emotional we do and say things that later on we will regret. Never allow that to come into play with creditors that you owe. Your family, personal well-being, and ability to make money are worthy of being protected. Take care of those first and deal with your creditors with a plan. God is the one who gave you the power and a gift from God is worthy of holding onto tightly.
"And you shall remember the LORD your God, for it is He who gives you power to get wealth, that He may establish His covenant which He swore to your fathers, as it is this day. –NKJV