Call the Bill Collector First

My children had some medical problems last year that have cost us a lot of money.  Trying to pay off the doctor bills has caused us to get behind in paying our other bills.  My wife and I are both working overtime just to make ends meet.  On top of that, bill collectors are calling almost every day.  We are praying everyday for God to get us through this difficult time in our life. Can you offer us any practical ideas on how to get back on track financially?              
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Dear Mr. F.T. Jones,
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I am convinced that if you and your wife will continue to work together and pray together, the Lord will give you the ideas and the supernatural favor needed to lead you out of your financial dilemma.
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As for the practical things you can do, let me offer you a few ideas. Take the initiative to contact your creditors to explain your financial situation. When you contact your creditors, particularly by telephone, ask to speak with a supervisor or manager.  This is imperative because management- type personnel will usually be the only ones who have the authority to approve any leniency on a past due account. When you get the manager on the phone, let him or her know you would like to continue honoring the original terms of your credit agreement, but unforeseen financial pressures (doctor bills) have prevented you from doing so. After telling the "bad news," be prepared to offer an alternative debt repayment plan. For instance, if your credit contract calls for a payment of $100 per month and your budget can now handle a payment of only $25 per month, drop your pride and tell the creditor that.  Remember, you're seeking favorable treatment in a situation where you have already signed a credit contract that is legally binding and enforceable.  If the manager or supervisor that you speak with is unwilling to negotiate, don't get discouraged; and don't allow intimidation tactics to frighten you. Just continue to seek other management personnel until you reach someone who is willing to negotiate. 

If your debt problems are with a car loan or furniture account, the creditor may be especially receptive to working with you to avoid repossession; because most creditors do not want to incur the additional cost of repossessing and reselling to get paid on a past due account.  If you're having problems paying your home mortgage, temporary relief may be as simple as telephoning your mortgage company and requesting the use of any excess money in your escrow account.  The escrow account usually stores money collected by the mortgage company from the homeowner, each month, to cover the estimated expenses of taxes and hazard insurance. If the amount collected to cover these expenses was overestimated, you may be allowed to apply that money towards paying your past due house note.  You may also ask the manager if you may be allowed to pay the “interest only” portion of your home mortgage. The “interest only” amount may be less than half of your regular mortgage payment. The “interest only” payment technique may be effectively used for auto loans also.
Verses to Remember:
(Psa 37:25 KJV)  I have been young, and now am old; yet have I not seen the righteous forsaken, nor his seed begging bread.
(Amos 3:3 KJV)  Can two walk together, except they be agreed?
(Mat 18:19 KJV)  Again I say unto you, That if two of you shall agree on earth as touching any thing that they shall ask, it shall be done for them of my Father which is in heaven. 

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​Dr. David Stephens has authored 8 books on love and marriage. Since 1994 he has conducted relationship seminars and served as a coach to couples & singles who desire marriage success. In 2016, he launched the Marriage Success Podcast. He has been happily married to his wife, Angela, since 1988.