Page 66 - Winning The Credit Game Bundle (CK Patrick)

54 THE CREDIT GAME

Collection Practices Act, collectors must identify themselves and the
company they work for. If a debt collector or other creditor volunteers
this information; write it down. If they don’t, ask for the information
and then write it down.
Write down the exact date and time of your phone conversation,
and its contents. This information may help you later if a dispute
arises. If helpful, you may wish to email this information to yourself so
that there will be a record on your email server.

“What is your name and the company you work for?”

Immediately write this information down, alongside the date and time
of the conversation, when you receive it. You will want to take notes
on everything the creditor says during your conversation, ideally
writing or typing these notes as you are speaking to them.

Next, tell the creditor your situation.

“I am in a difficult financial position and am behind on my payments.
My account number is ____. I’d like to catch up. What kind of payment
plan can we arrange?”

You don’t have to agree to what the creditor proposes. Instead, listen to
see what they offer, and see if it is something you can afford. Never
agree to borrow money from others, refinance your home, or put debt
in a credit card to pay a debt.

If there is no way you can afford to pay under the terms the creditor
requests, you may wish to work with a debt settlement lawyer or other