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Don’t Grease the Squeaky Wheel

by Don Current on March 22, 2010

We’ve all heard the saying “The squeaky wheel gets the grease.” Even Jesus talked about the neighbor who persisted at knocking on his neighbor’s door until his need was met. When you have a need yourself, it’s a good strategy to use. When you’re on the receiving end though, greasing the wheel is not always your best strategy. It’s this exact concept that collectors use to try and collect on credit card debt. They keep on calling and threatening you until they can get you to send in a payment. They don’t care that the $50 you just sent them was supposed to buy the baby diapers.

When it comes to debt collectors you need to make sure you have your priorities firmly established when you are dealing with them. You need to protect your four walls first. What I’m talking about is making sure that you take care of your basic needs before you pay any unsecured debt like a credit card. You need to put a priority on your housing whether that be rent or a mortgage. You need to make sure you have food in your bellies and clothes on your back. You need to make sure you have basic transportation taken care of. Don’t ever put a collector’s whining ahead of those basic needs.

There is a reason that credit card debt is called unsecured debt. They have nothing to hold against you. If you’re behind on your car payment, they can take the car. If you’re behind on your mortgage payment they can take your house. If you’re behind on your credit card payment they can scream and cry and threaten, but at the end of the day they have nothing to take away. Sure, they can hurt your credit rating, but chances are at this point you’re probably not in the best shape anyway. They can even bring a law suit against you, but the cost and time required for that usually prevent that from being a real solution.

So remember, when that wheel is squeaking, stand firm on your priorities and send them hunting elsewhere for their grease.