Debt is one of the most stressful predicaments we can ever get involved with in our life. But a lot of people believe that, to solve their problems, they run away. But is this actually possible when we struggle with debt, and if it’s not, what can we do to face up to our demons?
The Changing Address Routine
If you’ve ever moved into a rental property you will know the scenario pretty well. You keep getting letters for a previous tenant, demanding that the outstanding balance is paid up, and when you explain that you have nothing to do with these people, it partially sorts itself out. But if you ever think his is a very simple way to escape debt, this isn’t going to give you much respite for long. Moving house is something you can do to escape an outstanding balance, but as soon as you register with the council, or put your name to any of the bills, which are legal requirements, you will have letters and phone calls harassing you.
Dealing With Money Worries Proactively
Instead, you can learn how to negotiate with debt collectors through an abundance of options. When you have mounting debt, and this greatly impacts your life, liaising directly with the creditors is the best way to come to some form of compromise. But we don’t seem to think about this at the outset, because these letters that demand we pay an outstanding balance in the next 5 to 7 days incredibly intimidating. It’s hardly a surprise that we shy away from these or don’t even open the envelopes. But when you are faced with an outstanding balance, and you are physically struggling to make the whole payment, it’s best to get in contact with them directly and to arrange a payment plan. Many utility providers can work with you to negotiate something that benefits both sides. After all, if you are unable to pay anything right now, but you are in the near future, this benefits them to get some money instead of none at all.
Struggling With The Stress
Money worries are crippling, and we can sit at home, afraid to put the heating on, because we are that poor. If you feel like this, running away from your financial stress is not the solution. And while we can feel limited in our financial capacity to do things that we enjoy, or perhaps we don’t feel that we can do anything because it costs money, this is when we have to focus on our health. There are numerous resources to help you cope in these circumstances, not least places like Citizens Advice where you can get some basic information, but when the stress of the situation threatens to undermine your happiness, running away from the problem will not provide the solution. Facing your money worries isn’t just about liaising with the creditors, but it’s about putting a solid plan in place, and this is what will help you regain some form of control, not just over your finances, but over your life.