How to avoid collection claims? Avoid getting a debt collection alert by having control over your personal finances – Good tips for those who have received a debt collection alert here.
If you do not pay your invoices, you may end up accruing debts that you are unable to repay. We have compiled a number of tips for you who have been so unlucky to receive a debt collection notice.
Pay right away
If you have received a debt collection notice, the first and best solution will clearly be to pay the bill as soon as possible. If you simply do not have the opportunity to pay the bill, then you should consult with friends or family if they have the opportunity to lend you the money you owe. On the other hand, you should make sure that it is not a habit to ask others about money, and make sure that you always repay money you borrow from family and friends to avoid creating a bad mood between you and your loved ones.
If you do not want to ask others to lend you money, you should contact the debt collection company immediately. They will usually be willing to come up with a repayment agreement that matches your personal finances.
Double check that the debt collection claim is correct
Unfortunately, there are some scammers out there, and if you are unsure whether the debt collection claim is correct, you should always check an extra time. If you believe that the debt collection claim is not correct, you must inform the debt collection company immediately. What you can do then is to raise an objection to the debt collection claim, and you should contact the debt collection company for details on how to proceed. Often, it may be enough to take a phone call to the company or send an email, while some debt collection companies may also ask you to provide written documentation. After you file an objection, the creditor will be contacted to confirm whether or not the debt collection claim is actually correct.
Do everything you can to avoid debt collection
It’s easy to be hindsight, but when it comes to money, it pays to always have control over your own personal finances. Therefore, before receiving a debt collection warning, you should do everything you can to avoid putting yourself in a difficult financial situation. Do you have small loans that can be refinanced? Can you cut some items in your budget? Do you have items in your home that you could possibly sell? All in all, it’s all about planning. Create a monthly budget where you have an overview of your income and expenses, and make sure to pay all bills on maturity. With a good overview of your own finances, you probably won’t have to worry about situations where you can’t pay all your bills.