Bill collectors will have a big smile on their faces when they find people trying to coordinate their debt with creditors with their collection debt. They just love to see people in situations in which they are wondering which way to turn. Here are some practical things you can do to overcome this situation.

The first thing that bill collectors want you to do is to panic and act like your financial world is coming to an end. They also want you to ask them questions such as: What can you do for me? How can you help me? Do you have any suggestions for me? Can you get me out of this mess?

Take my word. As a former collection manager, you should not ask those types of questions. Bill collectors may also suggest that you borrow money from your 401K, put second mortgages on your house or max out your credit cards. So what do you do?

• Don’t panic
• Find out how much money you can pay on your pre and post debt
• Don’t trust a bill collector to give you the best payment arrangement
• Set up a payment program that fits your budget and stick to it
• Don’t give out your job or banking information

If you need to talk to a  former collection manager that knows all the ends and outs of the collection process, you can e-mail me at [email protected] or call me at 313-744-5977 for immediate help.