It
is tough when one experiences loss of a good business because of fundamental
change in the targeted market. When you go through problems such as these, the
creditors come into play and ask for their money. If you cannot pay them, they
take other measures to force you to pay them. Threat calls from creditors is
very common, and although it is not rare it’s not pleasant either.
These
are all illegal methods to get back their money. Often in
such troubled situations people overlook obvious quality control factors, such
as regularly checking up ones bank account. Not doing so may result in getting
you line of credit crossed without your consent and knowledge. If things go to
such extremes then it necessary that an individual settles them in court.
Bearing
loss is often the step you take in your learning experience about the world and
how it works. The courts favour the creditors; they don’t have to prove a lot
of things and can win cases on the basis of mere accusation.
Here
are the necessary steps you should take in order to beat them at their own
game. The basic tactic is to not make any statement and to not make any claims
regarding what so ever. All you need to be doing is ask questions.
The
creditors don’t like to be asked questions, as most of the time they don’t
really know how to tackle them. They only like to be on the end which sends the
questions like a stream of bullets from a rifle. Hence on the phone you have an
extremely short conversation with them.
All you need to do is ask for their
name, their social security pin, so that you are sure that you are about to sue
the right person. In most cases they usually hang-up or ignore such questions.
If in case they send you a collection letter, send a reply letter of your own
which forms a contract by non-action, in its ask them to send you proof that it
is actually you who is in debt.
They cannot verify the fact that you are in
debt to them, because you aren’t, they are third party interference, and can
only verify that you owe someone else the debt. By not sending you the proof
letter in return, they have duly settled that you do not owe them anything.
You
cannot take this lightly as yet; you need to be extremely cautious and specific
in what you ask for next. After the stated waiting period, you need to seal the
deal with a follow-upletter. Keep all these evidence in your legal file for
when you get served with a lawsuit, you now have proof that you don’t owe them
anything. They know this tactic and so they will likely sell the debt to some
other third party collection firm, with whom you need to repeat this
process.
This
information is not shared so that you don’t ever pay your debt, but this is to
save you from the harsh and unforgiving people in the financial industry. This
information will help you to postpone the settlement until you have the assets
to settle your debt. Pay your debts but do not let the sharks eat you alive
when you can’t.
