144 Quotes by Jean Chatzky

You need a clear, legitimate excuse for why you're behind [the bankruptcy], such as a layoff, divorce, or medical emergency. Be prepared to back up the circumstances with supporting documents. Anything you have to substantiate your story - including proof that you have, for instance, been actively looking for a new job - will help.

In most cases, if you've gotten to this point, you've already received a letter or phone message from your creditor with the name and extension of a representative. If you haven't, you can call the toll-free number on your bill, but keep in mind that the person who answers may not have the power to negotiate a settlement. Ask to speak to someone who is either a supervisor or in the settlement department, if the creditor has one (as many do).

After explaining why you're in trouble, ask the creditor if the company would be willing to accept a smaller amount. Start negotiations at about 30% of the total amount due, with the end goal of paying 50%.

Sometimes a creditor is willingto do this as a bargaining point - you give the creditor cash in hand, it gives you a positive listing on your credit report - even though you haven't paid the full amount. Get this agreement in writing.

By definition, saving – for anything – requires us to not get things now so that we can get bigger ones later.

It’s not about having it all. It’s about having what you value most.

You can have a do-over starting today. But you have to get over the feeling that it’s too late.

Don’t let the fact that you’re spending time getting organized result in late fees on your credit card bills.

By definition, saving - for anything - requires us to not get things now so that we can get bigger ones later. That's hard. Our brains are hard wired to prefer the here and now.