3. Negotiate, negotiate, negotiate

We’ve mentioned this before when it comes to payday lenders, but the same goes for any debt. Get in touch with your lender, and figure out a plan that works for both of you. Whatever you do, don’t stick your head in the sand and pretend the problem doesn’t exist by not answering the phone or your mail. If you do, you may find yourself in a much more uncomfortable situation face-to-face with a large and intimidating debt collector! No one wants that. The loan and credit card companies you owe money to certainly don’t. They want their money back, so they’re usually willing to work with you to find something realistic for your budget.

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