First is to be organized and stay organized. Get your statements in order and know how much you owe in principle and fees. It also does not hurt to have a copy of the original agreement on hand as well.
Secondly is to keep a notebook of all the conversations that you have with the creditors. Names of the agent you spoke to, their extension, dates, times, and every piece of information you can.
Third, never take the first offer.
Fourth and probably the most important is to stay cool. Never get upset and never be afraid. The creditors will often say and or act in a way that is condescending or say things to get you scared. Just stay calm and do not fall for it.
Credit card debt and finances are the number sources of stress in the US. And the number one reason for marital disagreements. If you are deep in credit card debt it’s a little late to be concerned about your credit score. What you want to think about is how you can get out of the debt so you can free up the cash. There are many other variables that go into creating a good FICO score, and how it is really figured nobody knows, but one is debt to income ratio. If a lot of your income is going out to debt you will take a hit of your credit score, plus the burden of the debt, and the stress it puts on the other necessities like food, gas, and housing.
Credit card debt negotiation is a great option if you are struggling with your credit card debt, and it may just be the best.
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