What should I do first?

iVillage Member
Registered: 11-19-2003
What should I do first?
1
Fri, 05-16-2008 - 8:27pm

I am pretty confused as to what I need to do first. I've read horror stories of people being harassed by the creditors on the phone - threats and most of them illegal for them to do from what I understand... which is why I won't answer my phone. I don't want to be threatened or scared. I know I don't have money but it won't stop me from freaking out if I talk to them.

So that brings me to what I should do first. I posted my introduction but I don't know if I should - try to get on a debt management plan with one of the nonprofit agencies, try to do it myself by contacting the companies myself (which would involve a whole new list of questions), write them each a letter explaining my financial situation (I've read of people doing this and asking for a reduction in their interest rates), or a letter asking them to not call me and contact me only by mail.

I don't know what to do first. I know something has to be done. Can anyone tell me if there is a preferred order to do this or if I should just put it in the hands of a Credit Counseling Service?

iVillage Member
Registered: 01-25-2006
Sat, 05-17-2008 - 10:49pm

Honeybear,
I think it might help you to go have a consultation w/the consumer credit folks. They will lay out your options for you and will be able to help you determine what makes more sense to do first. It won't cost you anything and it'll help you get all the details sorted out for yourself and then you can go from there. I believe they will be forthright with what they evaluate your situation to be. I bet you'll feel a lot better after that and things will become more clear.

Peg