AZ Fanzgo Blog

Dealing with financial problems can be emotionally straining for you and your relationships. There are somethings you can do to make working through this process easier.

* Get copies of your current FICO scores. Subscribe to a service that will send you periodic score updates and alerts when there is a change.

* Organize your financial data. Develop a spreadsheet, either electronically or on paper, that will list your unsecured creditors and amounts due them.

Include your secured debts, but do not add the two together.

* Create a filing system for copies of your bills and statements. Don’t throw them into the proverbial shoe box. Instead, file everything away. That way, if your debt settlement service needs some information, it will be easily accessible.

* Monitor your monthly income and your monthly expenses to make sure you still qualify for debt settlement.

* Keep records of your secured debt (mortgage or car payment for example) separate from your unsecured debt (credit card or medical debts).

* Realize that debt settlement is a process that can take several years, but that moving ahead to pay off your debts is a positive step that credit rating services will recognize.

In summary, by keeping your records straight and in a reasonable manner, you will be able to accurately answer any question the debt settlement service asks you, without become frustrated and upset.