Comments on: Treat ‘em Mean, Keep ‘em Keen: Making Your Creditors Work for You http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/ Helping a unique generation achieve financial independence. Fri, 19 Mar 2010 03:24:02 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: James http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-99510 James Wed, 31 Dec 2008 21:51:13 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-99510 Contrary to what is said up top, creditors will sue you for your debt. Capital One is notorious for doing this so be careful! Contrary to what is said up top, creditors will sue you for your debt. Capital One is notorious for doing this so be careful!

]]> By: Lori http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-88813 Lori Thu, 02 Oct 2008 01:53:06 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-88813 I've recently fallen into hardship because my husband lost his job after 25 years, and after working a new job for 1 month he had a quintuple bypass and was out of work for over two months. We have four children and have had no credit card debt prior to 8 months ago when this all started. Now we are inb debt over our heads. Our first action was to call creditors before we became default and some of them were willing to set up a payment plan. But one creditor refused and sent us a bill to pay in full within two weeks of us calling them. Now they have turned our account over to a lawyer who when asked to send their terms in writing have refused, so I haven't talk to them since. I may try again to see if they will send terms in the mail, but any advice would be appreciated. I’ve recently fallen into hardship because my husband lost his job after 25 years, and after working a new job for 1 month he had a quintuple bypass and was out of work for over two months. We have four children and have had no credit card debt prior to 8 months ago when this all started. Now we are inb debt over our heads. Our first action was to call creditors before we became default and some of them were willing to set up a payment plan. But one creditor refused and sent us a bill to pay in full within two weeks of us calling them. Now they have turned our account over to a lawyer who when asked to send their terms in writing have refused, so I haven’t talk to them since. I may try again to see if they will send terms in the mail, but any advice would be appreciated.

]]> By: joel http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-84168 joel Sun, 24 Aug 2008 13:43:47 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-84168 Yeah, what you mention probably are right, the creditor would not simply hire a lawyer to sue you because it is too expensive. But unfortunately, if you are in asia, you will find out most of those well called " LEGAL" financial company will threaten you and Asia is not like europe or the state, even though we got threaten, we can't do anything. So probably, the best way is, just return your debt in time =D Yeah, what you mention probably are right, the creditor would not simply hire a lawyer to sue you because it is too expensive. But unfortunately, if you are in asia, you will find out most of those well called ” LEGAL” financial company will threaten you and Asia is not like europe or the state, even though we got threaten, we can’t do anything. So probably, the best way is, just return your debt in time =D

]]> By: Ryuko http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63282 Ryuko Mon, 17 Mar 2008 18:15:12 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63282 OK, I always believe in being civil and polite (even if you're trying to rip them a new one). That's a great thing -- and paying back loans is also a very good, moral thing to do. But if you're at the point where angry, threatening people are calling you and such, then your credit rating is already shit -- especially if you're already in collection. The best thing to do is simply play back hardball and get them to settle for as low as possible. This will put you on the road back to being able to rebuild your credit (and peace of mind by not getting nasty calls) much quicker. Don't worry about these guys making profit. If you're being chased by a debt collection agency, then the original company has already washed their hands of you -- they have already settled, sold the debt to another company. Debt collectors are evil, mean people (and if you are one, I feel no pity). They are brutal, and twist the truth. They are professionally trained to do this, and often have several years experience, so know just how to pull your strings. The moral: Pay your bills on time, and politely apologize if you're late or can't pay the amount owed. Often times, a little phone call when you miss a payment can keep you out of trouble, and most companies can be pretty lenient if you're having financial difficulties. This can help prevent you from getting in collection to begin with. OK, I always believe in being civil and polite (even if you’re trying to rip them a new one). That’s a great thing — and paying back loans is also a very good, moral thing to do. But if you’re at the point where angry, threatening people are calling you and such, then your credit rating is already shit — especially if you’re already in collection. The best thing to do is simply play back hardball and get them to settle for as low as possible. This will put you on the road back to being able to rebuild your credit (and peace of mind by not getting nasty calls) much quicker.
Don’t worry about these guys making profit. If you’re being chased by a debt collection agency, then the original company has already washed their hands of you — they have already settled, sold the debt to another company. Debt collectors are evil, mean people (and if you are one, I feel no pity). They are brutal, and twist the truth. They are professionally trained to do this, and often have several years experience, so know just how to pull your strings.

The moral: Pay your bills on time, and politely apologize if you’re late or can’t pay the amount owed. Often times, a little phone call when you miss a payment can keep you out of trouble, and most companies can be pretty lenient if you’re having financial difficulties. This can help prevent you from getting in collection to begin with.

]]> By: Link roundup: Palm Sunday edition | Mighty Bargain Hunter http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63234 Link roundup: Palm Sunday edition | Mighty Bargain Hunter Mon, 17 Mar 2008 10:11:43 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63234 [...] Generation X Finance turns the tables and suggests how you can get your creditors to work for you. [...] [...] Generation X Finance turns the tables and suggests how you can get your creditors to work for you. [...]

]]> By: Weekend Linkage - March 16, 2008 | The Suns Financial Diary | A Personal Finance Blog on Saving and Investing http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63124 Weekend Linkage - March 16, 2008 | The Suns Financial Diary | A Personal Finance Blog on Saving and Investing Sun, 16 Mar 2008 20:32:34 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63124 [...] at Generation X Finance used a guest post to show how to make your creditor work for you: “the only way to fight creditors is to get down in the trenches with them and fight [...] [...] at Generation X Finance used a guest post to show how to make your creditor work for you: “the only way to fight creditors is to get down in the trenches with them and fight [...]

]]> By: Weekend Links - Baseball Season Soon Edition http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63045 Weekend Links - Baseball Season Soon Edition Sat, 15 Mar 2008 13:32:50 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63045 [...] X Finance has a guest post on how to fight back against creditors. Though there are ten steps, I’d recommend a simple one to replace all ten - pay off your [...] [...] X Finance has a guest post on how to fight back against creditors. Though there are ten steps, I’d recommend a simple one to replace all ten – pay off your [...]

]]> By: Lazy Man http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63036 Lazy Man Sat, 15 Mar 2008 12:33:02 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-63036 I'm with Fathersez - simply pay your debt and move on. I’m with Fathersez – simply pay your debt and move on.

]]> By: Beachgirl http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-62703 Beachgirl Thu, 13 Mar 2008 13:03:08 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-62703 Hi. I recently found your blog and have added it to my blogroll. If you would like to check out my blog, feel free. Keep up the good work. Hi. I recently found your blog and have added it to my blogroll. If you would like to check out my blog, feel free. Keep up the good work.

]]> By: James http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-62655 James Wed, 12 Mar 2008 22:18:31 +0000 http://genxfinance.com/2008/03/11/treat-em-mean-keep-em-keen-making-your-creditors-work-for-you/#comment-62655 I agree totally that you shouldn't worry too much about your creditors. You only need to pay them if it benefits you to do so (assuming they aren't friends or family members or something). If we are just talking about credit cards and whatnot, then it's hardball. They lent to you for one reason - to make money. If they don't make any money, it's their tears not yours. I agree totally that you shouldn’t worry too much about your creditors. You only need to pay them if it benefits you to do so (assuming they aren’t friends or family members or something). If we are just talking about credit cards and whatnot, then it’s hardball. They lent to you for one reason – to make money. If they don’t make any money, it’s their tears not yours.

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