Get rid of your Credit Card debt now!
If you are in credit card debt, I’m sure you must have received plenty of calls from Debt collector agencies by now. They call you daily asking to clear debts or else they will visit your house. Many a time they approach you directly at your home address and try to threaten using various tactics.
In that case, you can follow below steps:
Many people take credit card however they are unable to manage their credit. Credit cards give their holder to pay their debt within 45 days. Credit card’s cycle is usually 45 days from the purchase date, however, this billing cycle is decided by Credit card issuer bank. We’ve to make sure to contact the bank to know billing cycle and use your credit card accordingly.There’s forever a plan out. If you play your cards right, you will be able to get out of debt quickly than awaited.
Here are some points on how to manage your credit card debt.
Call your credit card issuer bank customer care.
Bank will never lose his customer and surely they will give a guide to pay your credit card debt. you can ask simply to convert your debt into EMI option and you can pay your Credit cards due in installment as well. you can also ask them to give more time to pay credit card debt. However, before proceeding that you should ask your bank to issue no clearance notice and after that, you can proceed.
Two things from here, either you choose to clear pending bills yourself or bank is making a request. In the first case, you must contact the bank directly enquiring about minimum amount you need to pay for the settlement. However, in the second case, where a bank employee approaches you, you need to first verify the identity of the person approaching you.
In the recent past, we’ve encountered such complaints, where fake callers posing to be one of the bank employees contact customers directly for settlements. Somehow, they fetch customers debt details from various resources & make it completely legit for customers to pay the settlement amount. To the worst of it, bank has no acknowledgment about it & customer don’t even receive a ‘No Dues’ Certificate. So, to avoid such things happening, confirming bank would be the best option.
When someone from the recovery team contacts you, you’ve to be completely transparent about how much you can afford to pay. Start negotiating for the same amount (deals are usually cracked at 20-30% of the total pending bill). Post negotiation once the minimum payable bill is set, you can promise them a fixed date of payment without fail. This way you can easily clear your debts & start maintaining credit history again.
I hope you understand my point, Rather searching for alternate you should direct contact your bank. this is the option you have.