Sometimes debt can seem overwhelming. In those instances, or
even before things get that far out of hand, get back to basics
and try some of these debt handling solutions.
BASICS - 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.
REACH OUT- If 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!
So before your debt gets out of hand, take charge and get back
to basics. Put some of these debt handling solutions into
practice and make the most out of what you have.
About the author:
Masni Rizal Mansor is a successful webmaster and publisher of
Best Reward
Credit Card.. He provides tips on how to apply
cash back credit card and
gas reward credit card.
