Coping With Past Due Bills

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Coping with past due bills can be very stressful.

It is important that you maintain your necessary living expenses while communicating with your creditors on how you plan to pay your debt. Here are some actions you can take while you are in the process of recovering from your financial distress.

Have a plan

  • Develop a plan for how each paycheck will be spent. 
  • Pay your secured loans, your mortgage and car payments before credit cards or other unsecured debts.
  • Prioritize your housing, food and utilities.
  • Develop a plan to increase income or reduce living expenses.

Communicate With Your Creditors

  • As soon as you know a payment is going to be late, call your creditor. Many have various options available that might benefit you.
  • Concentrate on the facts when you communicate with creditors. Avoid letting emotions play a part in your conversation.
  • Do not make a payment arrangement that you cannot keep.
  • Inform them of your circumstances and what you are able to pay. Often times, making even a small payment will stop further collection actions.
  • Keep a record of your conversations with creditors. Write down the date, the name of the person you spoke with and the amount you promised to pay.

Know Your Rights

  • Collection agencies may not call you before 8:00 a.m. and after 9:00 p.m., your time, when collecting a debt.
  • They may not contact you if you request in writing that they stop calling.
  • They may not harass or abuse you.

Once your financial situation improves, contact Apprisen to make an appointment to help you revise your spending plan and assist you in working with your creditors.

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