A call from a creditor can be a stressful thing, especially if they are coming from numerous companies. This aggravation can be compounded if the debt has been sold from company to company and you start losing track.
How can you get your finances under control? What are your rights in terms of creditor harassment? Below are some tips to gain the footing you need to get your credit back under your control.
Keeping it Organized!
An organized filing system for your bills and statements is a good way to start. No matter your age, if you have financial responsibilities, and you need to keep them in order. Having a small filing cabinet or filing boxes is great to separate different companies’ correspondences.
Some even have online filing systems. Just remember that if you choose this method, that you need to have a backup of all files on removable media in case your computer breaks. It is always good to keep records of all accounts whether they are closed, open, have a balance, or are empty.
If you keep good files, you always have something as a reference in case something does go wrong. For an example, if a creditor calls to say that they have not received a payment and you have a printed receipt, then you have proof that it was submitted. The same goes for “late” payments, credits, and any other records of transactions. If you pay online or receive statements online, it is still good practice to print these records out or save them if you have an electronic file.
If you know Bankruptcy is inevitable, keeping your bank statements and tax returns organized is also good practice. We often see our clients struggle when we ask them to provide us with 6 months of bank statements for all opened accounts and 2 years of tax returns. We don’t accept excuses like “oh our dog ate them” or “we had them but we lost them”. These excuses may have worked in elementary school when you didn’t do your homework. BUT when your 2nd grade teacher is now the Trustee assigned to your Bankruptcy case…you better believe he/she will not pat you gently on the back for your mishaps.
To Be Continued…
Lam Law Firm, LLC •1335 44th Ave North • Suite 100 • Myrtle Beach, SC 29577
DISCLAIMER: The information contained on this page is for general information, only. It is not intended to be legal advice, nor should you make legal decisions based on this information. Please consult one of our attorneys to see how the law applies to your particular situation.