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Episode 2785:
Kumiko from TheBudgetMom.com provides a comprehensive guide for managing debt collection. She offers practical steps to assess your financial situation, prioritize payments, and choose the best approach to settle debts. Her advice empowers readers to take control of their finances and work towards rebuilding their credit.
Read along with the original article(s) here: https://www.thebudgetmom.com/has-your-debt-been-sent-to-collections-here-are-your-options/
Quotes to ponder:
"You can’t build a successful plan to deal with debt collectors until you gather the facts about who you owe money to and how much you owe."
"Your best bet is usually to save enough money so that you can try to negotiate a debt settlement on your own."
"I know what it’s like to feel overwhelmed by debt. Yet even as a single mom with limited income, I was able to take control of my budget and start turning my financial life around."
Episode references:
Credit Karma: https://www.creditkarma.com/
Experian: https://www.experian.com/
AnnualCreditReport.com: https://www.annualcreditreport.com/index.action
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Optimal Finance Daily - Financial Independence and Money Advice