Beginning a debt resolution program can fill us with both hope and anxiety. You have finally taken the first step toward slashing interest payments and calls from collectors out of your life, but you may be worried about making a mistake and ending up in a worse situation. The following 7 tips will ensure that your debt resolution journey is as effortless and successful as possible.
1. Be Wary of Calls from Unknown Numbers
One of the greatest sources of anxiety for debtors is constantly receiving calls from creditors. Debt relief companies should take over communication with creditors, but that doesn’t mean that some of them won’t try to contact you. Once you begin your debt resolution program, it’s recommended that you block the phone numbers of debt collectors, allow unknown numbers to go to voicemail, and alert your debt relief partner that your creditors are still trying to reach you.
2. Communicate with Your Debt Relief Partner
It’s important that you keep in touch with your debt relief partner throughout your debt resolution journey. Their success is based on your success, so don’t be afraid to explain your situation truthfully. They come from a place of experience and expertise and will give you advice. If the debt relief company you choose has an app or online dashboard, check it frequently for updates.
3. Get On Top of Your Deposit Schedule
After choosing a trusted debt relief company, paying your monthly deposits on time is perhaps the most important factor in resolving your debt and moving toward financial freedom. If there is an emergency and you know you will be unable to make a payment, call your debt relief specialist and determine a solution. In contrast, if you are hit by a stroke of luck and come into some unforeseen money, put it towards your deposit to accelerate the process. You can celebrate when you are debt free.
4. Turn Off Automatic Payments to Creditors
It’s typical to set automatic payments to avoid late fees. However, once you begin your debt resolution journey, you should turn them off. If you can’t cancel online, you may have to call your creditors, in which case they may resist. In that case, contact your debt relief specialist, or place a stop payment order through your bank.
5. Pause Payments to Creditors
Payments that would have gone to paying your creditors should be redirected to your monthly deposit. Therefore, it’s important to pause any payments of your enrolled debts. Remember, your debt relief specialist is negotiating a better deal on your behalf, and your creditors will still get paid in the end.
6. Stop Making Purchases with Enrolled Credit Cards
Do not be tempted by rewards programs, airline miles, and discounts. The last thing you want to do when resolving your debt is to put yourself further into debt. This may seem obvious, but paying with credit is a hard habit for some to break. Accumulating a few airline miles or working toward an introductory reward of a couple hundred dollars is nothing compared to finally becoming debt free.
7. Choose a Trusted Debt Relief Company
The final and most important tip is to choose a trusted debt relief company. You want to work with professionals that understand how to negotiate a great deal for you and act as an intermediary between you and your creditors. Americor is one such trusted consumer credit and debt relief solution company. Contact a certified debt consultant today to receive a free debt analysis.
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