How To Beat The Collection Agencies!

by J. Money - Published 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 ;)


Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!

If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!

What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!

PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.

Jay loves talking about money, experimenting, blasting hip-hop, and hanging out with his two beautiful boys. You can check out all of his online projects at Thanks for reading the blog!

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