Maintain Good Credit With A Mercy Call Or Payday Loans

In the last article titled “How Credit Bureaus Will Judge You | How Payday Loans Can Help”, we spoke of the different types of criteria that the three main credit bureaus Equifax, TransUnion, and Experian consider when assigning credit scores to credit reports.

Having trouble making your payments when the bills arrive?

Evaluating your credit every three to four months is crucial to maintaining a high credit score. Credit is built slowly overtime and any mark on your credit report as a result of fraudulent activity, accidental discrepancy, or personal irresponsibility can effect your credit score for a minimum of 36 months to 10 years for things as simple as a missed payments to more serious things such bankruptcy, and some of these things can be avoided with the smart and responsible use of payday loans, if need be.

Checking your credit report is simple and easy to do, but dealing with negative marks on your report are not. This article will focus primarily on preventing negative marks on your credit report resulting from a fault of your own.

Avoiding negative marks on your credit report from a fault of your own.

There are two things you can do to avoid making late payments to creditors. The first thing you may consider is a payday loans. These types of loans can be drawn quickly with minimal criteria which is an important factor depending on your need to obtain cash fast. Pay day loans do come with a fees attached which are usually around $15-$25 dollars for every $100 borrowed. This may seem costly to you but it will be much more costly to have a recorded late payment hit your credit report. This has the potential of costing you thousands over the next three years as your interest rates with creditors will be far less than optimal.

Get back on top of your payments using these two tips!

Try for the sympathy vote with a mercy call.

You can also call your creditors and request a payment plan if you are having trouble with your debt load. Creditors don’t want you to default on your payments as they don’t want to turn you over to collections. Collections only result in further losses for your creditors as most creditors end up selling debts to collection agencies for pennies on the dollar. Your creditors would much rather hear from you regarding your inability to pay your debt then to have to call you themselves. They will typically be more then helpful in accommodating you with a payment plan.

Keeping these marks off your credit report should be of highest priority. Do whatever is necessary to accomplish this quickly before thirty days elapse on your account. Once your account hits thirty days overdue creditors will begin calling you and you may find less mercy extended as you have shown no intent to bring your balance back to good standing. The speed at which you address the issue can save you from late charges on your account, defer payments until a specified time that is more convenient for you as well as prevent you from being turned over to collections or credit reporting agencies.

When calling a creditor you will want to remember the following,

1. Be polite and courteous as you will want their sympathy vote
2. Be sure to let the creditor know why you are calling. Don’t give them a long sob story as to why you can’t pay your debt as they have heard it all already. Make your point quickly and clearly and use there name when you address them.
3. Express your desire to make your account current and ask if you can arrange a payment plan. It would be good here to have a payment that you know you can afford ready to present before the representative to whom you will be speaking.

If you would like to print off a sample call script to follow or rehearse from before making a call on a delinquent account, click on the link below.

Call Script for Delinquent Accounts