We suggest there are three basic steps or principles to follow – Communication, a Written Plan and Integrity.

1. Proactive Communication

It is best to run toward your creditors not, away from them. As hard and embarrassing as it may be, always take proactive initiative in keeping your Lenders informed. It is almost impossible to negotiate with a Lender you have ignored. Communicating with a Lender sooner rather than later tells them you are responsible and serious about resolving your situation. Lenders often document each contact you make with them, whether it is by phone, letter, email or fax. The more you communicate, then better. Silence can be deadly.

2. Write and Offer Lenders a Written Plan

Most Creditors respond best to a request that is backed by a written copy of your budget, a list of your debts and, your proposed repayment plan indicating how much you are able to pay each month. It is important to present a realistic and honest plan with a demonstration you are willing to make sacrifices to pay the debt.

3. Act With Integrity

When you communicate with Lenders always be completely honest with yourself and with them. The Bible repeatedly stresses the importance of honesty. Leviticus 19:11 says “You shall not steal nor deal falsely nor, lie to one another”. And Proverbs states “The Lord loathes all cheating and dishonesty.”

Remember the Lord loves and cares for you. He wants nothing but the best for you, His child. Your honesty gives the Lord maximum freedom to work in the hearts and minds of others such as Lenders on your behalf.