It’s horrible to feel indebted to someone or something. But if you owe money back to a large organization, especially when you haven’t ever done so before in your life, it can feel incredibly overwhelming. It’s the fear of the unknown for those that are new to the whole bill paying scenario, such as those who have just finished college or if you are in your 20s. But take a breath, don’t panic, and get a sense of perspective when you’re trying to pay the money back. Let’s break it down.
Examine Your Bill
Whatever the bill, there should always be a breakdown of what you owe and how it has been calculated. So have a good look at that bill and if there’s anything that doesn’t sound right, or you plainly don’t understand it, get in contact with the company and ask for a detailed explanation. If you have been paying a bill every month and then the rate shot up, it could be a system error, or it could be that the rates have increased and it wasn’t made clear to you, in which case you should do the following…
Negotiate A Pay Plan
If you can’t afford to pay the whole balance up front, you can discuss the best way to pay the money back. The vast majority of organizations offer a payment plan, so you don’t have to be out of pocket while still paying the money back, but your monthly outgoings will, naturally, be higher, so you will have to budget accordingly.
Argue The Case In Point
If you feel that you don’t owe the money, or you may have felt pressured to pay it all upfront you might feel compelled to argue the case. So you could hire a debt collection attorney or write a letter to the organization stating the effects on your financial wellbeing. A lot of people feel like they have to pay everything upfront and have no other option, which is not fair, and it can cause a lot of stress and anxiety for you.
Always Show Willing
If you have argued the case and you’re definitely in the wrong, the best thing you can do is comply as best as you can. A lot of people who owe money will argue until they’re blue in the face, which doesn’t work for either party or it just makes you look unreliable, which can go against you in other ways, such as an impact on your credit score. If you try to approach the situation with a solution that benefits both sides, it will make you look better equipped to deal with the situation, and they may be more lenient on your repayments or give you more options.
Ask For The Line Manager
This is a big one if you’re on the phone to a customer service representative or call handler. Coming from the perspective who worked in a call center for years, a lot of frontline staff are ill-equipped to deal with the situation, purely because they don’t know all the available options. So, instead, if you find yourself going around in circles, it might be because they’re a new member of staff. So ask for the line manager!