Emergency Help: Credit Repair For Immediate Tough Times

Dealing with Debt Collectors:
1) You are not obligated to answer the phone when they call (better not to do so)
2) You are not obligated to discuss your job, income or assets (bank accounts etc...)
3) You are not obligated to give them alternate numbers to call.
4) Do not under any circumstance make any admission as to whether or not you owe the debt.
5) Do not offer to make any arrangement on the phone or discuss payments.
6) Do not allow a collector to push you or harass you into doing anything you don't want to do.
7) Make sure you get their address and fax number to send a letter (Cease & Desist). Don't reveal why you want it.
8) Get them off the phone quick and don't get emotional when they attack. It's nothing more than a tactic to get you to talk to them and give information. Don't Bite!

Some of Your Rights:
1) Not to be contacted by telephone at home or any other location.
2) To obtain proof of the debt as stated by them.
3) No reporting to a credit bureau during this time frame.
4) They cannot call you names, make threats, call more than once per day or call at all once notified in writing not to do so.
5) They cannot discuss the debt with ANY third party.
6) Cannot call before 9am or after 8pm your time.

Protect Your Finances:
1) If you are being threatened with garnishment of a bank account keep your funds in a new bank. Open a new account in a new bank and move the money until you either speak to an attorney or resolve the matter on better terms.
2) If you are concerned that your paycheck will be garnished you need to speak to an attorney (if you were served with an order for garnishment) and have them protect you as head of household and what ever other protections your state offers to keep the plaintiff from forcing your employer to turn over funds from your check.
3) Do NOT file Bankruptcy without considering the consequences to your credit. Bankruptcy is the financial equivalent of a nuclear warhead. Don't use it simply because you are being threatened. Consult and attorney and ask what the downside is to your credit and current assets but be very careful in making the leap.
4) Do NOT ignore a lawsuit Ever. If you are served most states allow 20 - 30 days for you to file an answer. "I don't have the money" is not a legal defense. If you ignore the filing timeline they will enter a "default judgment" against you. From that point forward they can proceed with any legal collection attempts. Make sure you respond by filing an answer and if at all possible consult an attorney at least by phone before doing so. Most will handle such a matter for a relatively small fee but the serenity you will get from that effort is priceless.
5) When you are in a financial dog fight Cash is truly King. Protect your cash flow at all cost. Keep the lights, cable, phone, car, car insurance and house in tact first before any other vendor. Protect your cash by keeping it in a bank that no vendor knows about. This will help you sleep at night so you don't wake up each day and run to the internet to see if your money is still there.
6) Don't use a Debit Card during this time. Debit cards are a trap for huge fees if you don't keep careful track of every charge large or small. Banks process the transactions large to small after midnight. The reason for this is to stick it to you good. The large transactions eat up your balance and the small ones out number the large accumulating fees after the available is used up at that exact second. Use checks or cash only and save yourself the agravation and fees. Go Old School.

more coming soon...