Acquiring credit card debt on a short-term basis, i.e. when you’re in a position where you’re paying off your credit card debt within the designated period and so not incurring interest on your debt is obviously okay. Though this is not what I’m talking about in this instance.

When the banks and debt collectors come knocking on your door to coerce you to pay your unpaid credit card bills, you only have to use this federal law to your defense. The Federal Trade Commission in the mid-60s crafted the law so that there will be fair collection practices by debt collection companies uk. For more information regarding this, simply search and read about the term “where does money come from”. After reading this, you will start to understand and open your eyes about the possibilities given by the law protecting against unfair collection practices.

First of all you have to admit that you did fail, if you never admit it, you can never move forward. You can not just live in denial thinking that this could never happen to you. You have to find some other way to pick yourself up and bounce back. Find something else that you are passionate about and start learning those new skills.

In California I am not currently aware of people being issued arrest warrants for owing purely personal debt but be aware of situations that could amount to debtor’s prison. Courts always maintain that they put people in jail for violating a court order and not for owing debts and thus they get around the constitutional prohibitions. Some creditors in some states have used this loophole to just get a judge to order payment of the debt and when payment is not made then the judge issues an arrest warrant for failing to follow a judicial order. This amounts to the exact same thing as a debtor’s prison.

Always remember that you’re the one in control because you have the money. Collection agencies know every trick in the book for getting people to pay more, but stick to what you can pay. Don’t let them push around. It’s your money and you get to spend it on your terms, not theirs.

How you pay your debt is actually a main factor. First, determine whether they’re willing to accept monthly payments to repay the debt and if so, how much per month would it require and how much of the debt will be taken off if you pay as arranged. Also, you should find out how much of the balance will be taken off if you pay them completely with a single payment. This type of payment is desired by collection agencies because they are getting cash quickly and this decreases the risk of having to call back for payments or payments bouncing in the future due to change in checking accounts. Make use of this tool to negotiate your balance owed as it should give you a much clearer picture on what it would take to pay the debt.

Remember that the more attention you pay to getting out of debt the faster it will happen. If you ignore the debt you have and pretend it will just go away one day then you will probably always have a problem. The best solution is to do something about the debt you have.