Legal Buzz: Debt Resolution, Part 1

Dealing with Debt on Your Terms


Cardinal Rule of Debt Resolution:

NEVER use Cash Advances on Credit Cards or Retirement Funds to pay debt.

1) Prioritize your Bills

  •      1st pay secured creditors
  •      2nd pay unsecured creditors
  •      Last pay credit card companies

2) Do not speak to collection companies or collection departments until you are ready to negotiate

3) If you cannot pay, do not converse with collectors

Roland H. Acosta, Esq.