creditor harassment shouldn't be toleratedAvoiding Memphis Bankruptcy by Negotiating with Creditors

If you’re deep in debt and looking for a way out, you may want to consider negotiating with your creditors. As a Memphis debt attorney, I’ve seen it all. Here’s what you need to know if you want to negotiate with creditors instead of bankruptcy.

Is It Worth It At All?

The answer to this question depends on how comfortable you are with rejection, annoying phone calls, and some hard work. Sometimes creditors will work with you, and sometimes not. It depends on how they operate and a number of other factors that are often outside your control.

I love seeing people deal with their debt in whatever way they can, including working with their creditors. However, I’d recommend you go into it with an open mind. If it doesn’t work, you should contact an attorney and find out about your other options.

stopping creditor harassmentCalling Creditors to Discuss a Payment Plan

When you first reach out to creditors, you’ll want to start as close to the source of the debt as possible. Let’s use a hospital bill as an example:

  • First, find the bill with as detailed a breakdown of the charges as possible.
  • Contact the hospital’s billing department and let them know your situation.
  • See if they offer payment plans. Many hospitals do.
  • If they don’t, or if it doesn’t fit your budget, see if they have any other recommendations.

Always approach these calls with respect and kindness. It’ll go a long way in helping them help you.

What to Expect From Trying to Negotiate

In some cases, your creditor might have sold your debt to other companies. In that situation, you have to track down the debt and pursue it with whatever company owns it now.

Generally speaking, companies that are extremely public facing, like hospitals, tend to be more flexible. This is especially true if the business is a non-profit or has a non-profit arm. Others like credit card companies, utilities, and the IRS may offer some options (often not enough for major debt).

The last category, including collection companies that buy the debt from all the others, tend to be inflexible and often difficult to deal with. In fact, they might not even stop harassing you over what you owe.

Free Report: Stop Creditor Harassment

If you’re dealing with difficult creditors who are making your life miserable, you do have options.

Often, creditors will use unethical tactics to invade your space and steal your privacy. They actually aren’t allowed to do a lot of their normal harassment, but people don’t realize.

To help, we’ve published a free report to help you navigate awful creditor experiences. In this report you’ll learn:

  • what creditors can do
  • all the things they can’t do, and
  • how to respond when they break the rules

This tool can be so helpful when things go sour with a creditor who refuses to work with you.

darrell-castleLegal Help for When Negotiating Doesn’t Work

If you’re considering hiring a bankruptcy attorney, it’s possible you’ve already tried every other option for getting back on track financially.

It’s amazing when someone can negotiate with creditors instead of bankruptcy. But maybe you’ve tried that, and it wasn’t enough. You’re still struggling, and now it’s time to turn to a supportive, experienced professional for help.

Our award-winning Memphis bankruptcy attorneys will help you navigate the complex legal process and ensure you get a fresh start. We’ll guide you through the bankruptcy process, including filing your petition, attending court hearings, and negotiating with your creditors.

As our hundreds of clients can attest, we’re committed to helping you move forward with a clean slate.

Don’t continue to suffer under the weight of your debts. Contact us today to discuss your situation, no strings attached. You can call us at 901-327-2100 or fill out the form below.

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