Being in debt is one of the biggest distractions anyone can have. Not having the money to pay our bills can be both stressful and take our mind off important matters in our life and business. Avoiding our financial obligations can be an enormous distraction and one that won’t go away any time soon.
When we think of distractions, we think of not getting our work done, but money is a major distraction if not handled properly in our lives. It can take over almost all your thoughts and energy because for many of us, our lives revolve around having enough money.
On this episode, we interview Jeff DiMatteo, one of the owners of collection agency American Profit Recovery. Jeff goes through why people get into debt, the stress involved and then he gets into how to work with a debt collector. He gives some great advice for removing the stress of being in debt out of your life.
Other items he goes over include:
Reasons people get into debt.
Why is being in debt a major distraction for someone?
The process of working with a collector.
Why it is important to communicate with your creditors.
What resources are there to help those in debt?
Great advice and great podcast. Communication with the creditor is the key to avoid getting placed with a collection agency in the first place. If you do find yourself getting calls from an agency, communicate your situation and they will work with you to help you resolve the debt. If they do not, they are not doing their job and calling the creditor to let them know your experience is the right thing to do.