How to Look for Help With Delinquent Debts

Dealing with debt is a time-consuming and stressful task. If you have large amounts of delinquent debts and are being pursued by collection agencies or similar entities, it may be advisable to seek the assistance of a professional. The most important thing to remember when dealing with delinquent debt is that many others who have been in your position and have repaired their credit through commitment and responsibility.

Instructions

1

Run a quick search on the Internet for debt-assistance programs. There are many companies that provide help with delinquent debts and may be able to advise you on your best first steps. Be sure to read up on any companies you discover as some "debt assistance" programs are designed to prey on those seeking help.

2

Contact a local attorney. If you are considering bankruptcy or are concerned about the legal ramifications of your debts, speaking with someone who is well-versed in the law will be a great help. This is also a good plan of action if debt collectors are threatening legal action.

3

Look to friends and family for advice. Debt is a common concern for many individuals, and your close friends and family may have similar experiences or valuable contacts that can help inform your decisions. When you're trying to find someone to represent your interests, it is nice to work with a person who has been vetted by someone you trust.

4

Speak with a representative at a bank regarding savings accounts and their benefits. The absolute best way to deal with most delinquent debts is to pay them off (either in full or by negotiating), and the easiest way to get this done is to create a savings account with the intent of storing money for debts. There are tons of savings plans available, so check with a few banks for the best deal.