Promptly reply letters of your creditors. Contact them
on time. Keep your promises.
Always be polite with your creditors, even when they
are harsh with you. Convince them about your situations and say that you will stand with your commitment.
Prepare a black and white record of all your dealings
and communication with your creditor. Prepare list of letters and calls you received along with day and time.
Don’t make false promises. Be concise, but be right..
Don’t say that you can go the extent of declaring
yourself bankrupt. This can rupture your relations with
your creditor.
If you find yourself unable to fulfill the commitments made to your creditor then contact him in advance and make sure that you pay a part of the amount you are expected to pay. Never sit idle and let the dead line to pass.
If you receive any type of papers from the court ascertain that you are also prepared for it. Prepare yourself for
legal response within the stipulated time. Consult with
experts to guide you through the situation. If you receive any response form your creditor regarding the postponement of deadline make sure it should be in writing.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.