Furthermore Witchita Credit Union isnt the only companing increasing new programs to combat the ugly payday loans industry.The Credit Union of America recently introduced a "second chance" loan program a few months ago.i) If the creditor refuses to settle debts the first time, do not give up. As time passes by, the creditor may realize it is in their best interests to settle the debt with you. Tell them specifically what you want to achieve (in this case you want to reduce your debts and clean up your credit score).If creditors do not understand your goals, they will not respond to your desires.This means you have to be fast in reacting to debt collection calls.For example, if the original creditor calls you regarding payment, do not ignore them and wait.Tell the creditor what you CAN do, not what you CAN'T do!
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Keep copies of all your communication with your creditors including letters, phone calls notes, etc for future reference.
ii) Negotiate to settle debts with those creditors with the lowest balance first.