Learning how to deal with your creditors is not easy. They tend to call at odd hours, and they make you feel annoyed. But the best way to deal with them is to handle them head on, if you hide from them you will end up hurting yourself.
When dealing with creditors you have to be proactive if you know that you are going to be late in making your payment. This - will show them that you are not trying to run away from your debt. Explain to them why you haven’t made your payment yet. If you going through tough financial times let them know. They are human and they would be happy if you call them instead of waiting until they call you to demand for their money.
Keep calm when talking to them on the phone. Be polite and let them know of your situation. Then try to come up with a payment plan that will suit the both of you. But do not promise what you cannot deliver or you will end up making another call trying to explain why your payment is behind schedule. Estimate the amount you will be in a position to pay and the dates to be paid and put an effort to work around that arrangement. At other times, they can even offer alternative payment schedules that are better than what you could have expected.
But you will only find out if you contact them, and let them know that even though you are having problems making the payment, you intend to pay your debt. One method that the creditors use to deal with this kind of situations is lowering their monthly payments and extending the payment period.
The major thing is for you not to hide, and be willing to talk and negotiate with your creditors, through this way you can easily come up with a schedule that works for both of you.
If you’re having problems with debts or servicing loans providing you are over 18 year of age and car owner you could be allegeable for a short - secured against your vehicle alternately you should seek professional advice from relevant organisation such as citizen advice