Keeping Your Head Above Water
For those who have barely managed to keep their heads above water, it takes very little to make the glass overflow. And once it starts overflowing, it takes even less for it to turn into a flood. Luckily, I'm an expert at having terrible finances and have had several long-term relationships with debt collection agencies. That's why I've gathered three tips for those who can't empty their mailbox of debt collection notices, no matter how hard they try.
Become adept at ripping off the Band-Aid
Bills and debt collection notices don't magically disappear if you never read them. Instead, they grow larger and larger the longer you avoid them. Become good at opening, reading, and addressing bills as soon as they arrive. Get used to dealing with the uncomfortable. Ever since I started hanging debt collection notices on my fridge so that I had to face them every morning, I also became better at paying them as soon as I had the opportunity.
Establish a relationship with your own finances
You don't need to be the Leonardo da Vinci of finance to create a budget. I promise. The problems with debt collection agencies originally arose from a lack of understanding of one's own finances. Create a budget, even if it's an Excel template you find online, and become familiar with the inflow and outflow of your account on a monthly basis. Perhaps you'll discover that the thousand kroner you spend on Red Bull each month can be redirected towards bill payments instead?
Debt collection agencies don't bite (as hard as you think)
Another good reason for not paying bills is simply that you can't afford to. Maybe you had a wild night out and now you're faced with an unpleasant dental bill that exceeds the balance in your bank account. It all snowballs from there, and eventually, you find yourself with a two-digit figure of debt in collections and five hundred kroner in your spending account. Call the company before they call you, preferably during business hours when the case handlers are available. I've experienced debt collection agencies being both flexible and accommodating with repayment timeframes and even the actual amount owed. In the end, both you and the debt collection agency share the same goal - to get the matter resolved.