Although the current unemployment numbers are frightening and most of us know someone who is unable to find work, we will eventually work our way through this crisis. A year from now, in all likelihood, life will be heading towards normalcy. The person who “throws in the towel” now and resigns to a future affected by bad credit will not fully comprehend the magnitude of this wrong thinking until many years without credit to buy a car, posses a credit card or even rent an apartment. What should one do if one finds oneself caught up in unavoidable circumstances that make paying bills difficult? Here are a few suggestions:
Don’t “run” from your creditors. In fact, the best course of action is to communicate with them and keep them posted as to your progress.
Make acceptable payment arrangements with your credit to keep your debt off credit bureau records.
Avoid allowing a debt to end up in litigation; this only compounds your financial problems.
Offer to settle your debts with creditors for a lump sum less than the total balance owed.
Find alternate ways of producing income including doing work for others that you know how to do and are good at.
Accept a temporary position or part time positions that pay less than you are accustomed to earning.
Avoid spending money eating out; instead re-connect with the pleasure of cooking at home.
Find alternate ways to provide entertainment for your family that cost less or are free.
Stay healthy by exercising and eating good foods thereby preventing the need for doctor’s visits. Exercise reduces stress. A calm mind thinks more clearly.
Explore the possibility of borrowing money from friends or relatives.
Carpool, turn your thermostat up whenever possible, turn off lights and conserve energy.
Contact charitable organizations or community resources available to financially disadvantaged families.
At SCS, we are placing a greater emphasis on finding ways to help you pay your debt and we are especially anxious to settle debts when our client agrees to the terms.
Hang in there; we’ll make it through this mess together.
Here are a few links for free medical care, food assistance, utility assistance
http://www.freemedicalcamps.com
http://www.azcc.gov/divisions/utilities/water/financial-aide.asp
http://www.hsd.maricopa.gov/
Sincerely,
Richard Bartlett, President
