Butdebtors unionsare trying to change that.
Adebtors unionis a group of people harnessing collective power to fight for better conditions in our financial lives.
What is a debtors union?
A debtors union is an organization that helps people collectively negotiate, validate, and dispute personal debts.
Why join a debtors union?
Similarly, a debtors union uses collective power to defend its members interests.
Broadly speaking, joining a union is a good thing.
More specifically, one of the primary advantages debtors unions provide is leverage in negotiating with creditors and collectors.
Unions have professional negotiators who know how to best work with creditors to lower members debt burdens.
Make a list of who you owe money to and how much.
This helps you understand the scope of debts you need help with.
They do not deal with secured debts like mortgages.
Do some research to find ones that operate in your state and the types of services they provide.
Look for established non-profit organizations with a track record of delivering results for members.
Debt defense.Unions audit debts for errors and fight unfair collections practices.
Credit counseling.Unions help members improve credit scores and manage budgets.
Education.Unions inform members on consumer rights and smart money management.
once you nail evaluated your debts and researched unions, think about your specific needs.
Consider the amount and types of debt you need help with.
This helps you determine which union may be the best fit.
Attend meetings, follow their advice, and stay engaged in the process.
Be patient, as the process can take time.
With persistence and the leverage of collective action, many members finally experience debt relief.
Debtors unions grant consumers combined power and expertise to tackle unmanageable personal debts.
Meanwhile,heres our guide to getting organized to pull yourself out of debt.
