Overcome Fear of Debt Collectors to Eliminate Credit Card Debt by Non-Payment
People concerned about their credit card debt or those, who are unable to pay that debt, must first overcome a fear of the consequences of not paying their credit card debt before they can successfully eliminate that debt.
“If I cannot pay anymore or will not be able to pay in the future, what should I do?”
There are the two fearful choices of bankruptcy or the sacrifice of monthly essentials for the sake of a credit card payment. But, once we overcome the fear of debt collectors and collection attorneys, more options become available when we are able to make objective rather than emotional decisions.
Why shouldn’t we fear the process of credit card debt collection?
The realities are (1) debt collectors are powerless, and (2) collection attorneys only want to pursue default judgments. In addition, the credit card companies have stopped their one-sided arbitration of claims.
Debt collectors are powerless because they rely on lies and empty threats to get as much money, or failing that, personal information from you as they can. They threaten lawsuits that do not exist. Some even threaten jail.
Debt is a civil, not a criminal matter. All of these threats are against the law. The key to effectively dealing with debt collectors is not taking their phone calls, or minimally not giving them any personal information over the phone. Instead, it is important to respond properly to their written collection notices to you, according to the Credit Card Debt Survival Guide.
The Fair Debt Collection Practices law considers collection attorneys debt collectors first and attorneys second. So, just like debt collectors, their first written communication on intimidating legal letterhead can be dealt with by the proper written response.
However, anyone, who does not respond properly to a collection law firm’s first written notice, could become a candidate for a court summons.
Collection attorneys screen credit card debtors for the candidates who likely will not respond to a court summons and allow themselves to become prey to a default judgment. An answer to a credit card debt court summons is usually only one to three pages long. Frequently collection attorneys will not respond to the answer and just drop the case, according to the Credit Card Debt Survival Guide.
Time is money to a debt collector or collection attorney. They therefore would rather spend all their time with the many uninformed debtor consumers, rather than the knowledgeable few.
