Will you think twice before taking legal action against an individual who was borrowed money from you and who tries to avoid you at every available opportunity? If not, then how can you expect your credit card issuers to do so? Remember that the borrower lender relationship between you and the credit card issuer shall continue as long as you owe money.
As the borrower, it is your duty to make sure there are friendly relations between you and the credit card issuer.
One of the easiest ways to maintain this relationship is to remain in contact at all times.
Of course, you may not always be in a position to explain why the payments are late.
However, you stand to lose a lot more if you start avoiding your issuers.
This contact between you and the lender will help you avoid bankruptcy as well.
How? Well, when you discover that you're not in a position to repay your credit card debt in full, you will have two options.
Either you can approach your card issuer and request a reduction in the total amount owed or you can file for bankruptcy.
If you have good relations and if you can convince the lender that you will remain a good customer provided he or she provides this assistance, your chance of succeeding increases drastically.
On the other hand, if you have constantly kept your credit card issuers out of the loop and if you have irritated and irked them with your constant absences, you will find it difficult to convince your lender.
You cannot avoid this problem by simply employing a professional debt settlement expert.
It is your goodwill that the expert will use to get legitimate debt relief.
Everything will be above board and there shall be no complications whatsoever.
This is very important tip to avoid bankruptcy.
If you utilize this approach, you can employ just any settlement expert and you will not face any difficulty getting the maximum waiver possible.
This is because the lender will not begrudge you the generous discount as the losses are being re-compensated by the government in the form of the Federal stimulus package.
Just make sure you do not directly get in touch with debt relief organizations.
Chances of analyzing each and every organization properly are very remote.
Instead, it makes sense to use a middleman that will help you identify the right service suitable to your requirement.