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When writing a financial hardship letter to creditors, the individual should explain why he is unable to pay his debt, explain his plan of action for taking care of the debt and express his desire for a mutually benefici... More »

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The best way to deal with this situation is to tell the caller that he is calling an incorrect number for the person he is trying to reach. Debt collectors want to collect the money they are owed and derive no benefit fr... More »

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To write a debt forgiveness letter, clearly state the reasons why the request for debt relief is being made, recommends the Credit Counseling Society. For example, state that current income is not sufficient to pay debts... More »

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An individual agrees to a debt management plan when seeking systematized strategy and course of action to pay off all of his debt, according to Clearpoint. Not all consumers with substantial debt are served by the benefi... More »

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Some tips for resolving debt problems include making a budget, seeking help from debt relief services, contacting creditors to work out a modified payment plan and utilizing a debt consolidation program, the Federal Trad... More »

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To collect money from someone who owes you a debt, follow a few forceful steps that include offering a payment plan, reminding the person of the debt in person, sending them a letter, having a lawyer write them a letter ... More »

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Only choose a debt solution service that discloses its prices and terms, offers a timetable for results and warns you of the negative consequences of nonpayment to creditors, cautions the Federal Trade Commission. Avoid ... More »

www.reference.com Business & Finance Credit & Lending