How To Beat The Collection Agencies!

by J. Money on Monday, July 6, 2009

Lil Miss budget
Fighting the collection agencies? My girl Kim (aka Little Miss Fortune) just put out a brilliant piece on how to settle and save BIG! $14,000 big in her case. And not only that, but she was just featured on a CNBC Segment to show how she did it :) As you can tell, I’m definitely impressed over here.

Here are a few of the tips she shares to help YOU beat the collection agencies:

  • Go into the conversation knowing you should be able to settle for about 60 percent less than your full balance.
  • Call on the last day of the month, when the debt collectors are scrambling to meet their quotas.
  • Mind your manners! You’ll get a lot farther by being calm and pleasant than you will by being angry and defensive. (It’s okay to feel angry and defensive. Just don’t let them know!)
  • If you have a lump sum to offer, start low and let them talk you up. (I told one person I had $3,500 and wound up settling for $4,100.)

I’m proud of you Kim!!! Lets keep from getting back into debt now, eh ;)

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acorns Acorns -- Having trouble finding money to invest? Check out Acorns – they round up all your transactions to the nearest $1.00 and drops the difference into an investment portfolio for you. Easy way to start investing! // Full review

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