A credit profile is the most important financial document to any consumer out there.
Ask me, I've been there before and I know what it means, but my experience behind the desk as a Real estate agent has been a sort of saving grace.
Now I understand better why some people run into financial mess: it's because most of them take their credit rating for granted.
This is where success begins and it is also where financial downfall starts for some on their uneventful journey to bankruptcy.
Before you even bother yourself about any collector out there, have you looked into your credit report to know what negative items you need to get rid of? The fact that you have a good idea of what negative items are on your file puts you in a better position to begin a make-over on your profile.
The items that you'll give priority to are the most recent accounts and the most damaging ones.
This is because the most recent items weigh a lot on your total credit score.
Now to the subject of our discussion, understand that the only goal of a collector is to make profit.
This is because they've bought the right of ownership of a debt from your original creditor and as a result they want to make sure that you pay, and at the highest amount possible.
But do you honestly believe that you can call their bluff and pay them what you can afford - so long as the collector makes,some profit.
If you've got any collector threatening you with phone calls that your car or house will be taken away from you, simply tell them that the Fair Debt Collection Practices Act does not permit that.
Negotiate with such person the amount you can pay, in exchange that they delete the collection from your file.
This is one of the ways to save your file.
Saving your file can also come either using a self-help or repair agency technique.