Dealing With Debt!
Nobody wants to go into debt. Before things are getting worse
and far out of hand, you should learn about some of these debt
handling solutions.
First of all, you should know about basics. Basics are lower
insurance deductibles for your homeowners, renters and vehicles
policies where appropriate and save money. Don't take chances on
bouncing checks; instead get covered with overdraft protection
and pay about the same as what it would cost for one bounced
check to cover our account for an entire year. Ask your banker
about packaged account services. Many offer free savings and
checking accounts with free overdraft protection and checks,
free online bill paying and more. When you shop, check your
receipts, even for groceries. Many times items ring up at
incorrect prices. Sometimes store policy allows for no errors,
meaning you get the items free if it wrings up wrong. So carry
along a handheld calculator or pencil with small notepad to
tally up your charges.
In case you have medical debt, the first thing healthcare
offices try to do is get you to charge the bills or refinance
your home, etc. Stop!!! Before you take such a drastic step,
check with legal counsel. There are often other steps to take
first. For example, notify the billing parties and tell them you
need to apply for financial aid. Many have forms to complete,
and although they may be lengthy, remember they're for free
money to pay your bills. Reach out, take forms and fill them
out. Then set up minimum payment arrangements for the remaining
balances, even if it's just $10 a month for 30 years. Healthcare
bills are not like credit card debt and do not need to be
reported to the credit bureau in the same manner.
Also reach out with merchandise and return any recently
purchased items that you can for a refund. Credit cards and mail
order companies generally allow you 30 days to inspect your
purchase. Return any you can for refunds. If purchases are
beyond the 30 days and for various reasons don't hold up to
their end of the "bargain;" i.e. they broke already or never
worked right to begin with, get on a letter writing campaign
pronto. Write the place of purchase and copy the manufacturer,
the distributor, the Better Business Bureau and your state
Attorney General's Office. State the reasons our product is
faulty and that you want a refund. It's often rewarding to get
help with other entities like these. No need to go it alone!
The key is that you should take charge and get back to basics
when debt is out of hand. Put some of these debt handling
solutions into practice and make the most out of what you have.