Should I Do Debt Negotiation Myself?

Credit card companies are all different. While they each have entire departments set up to deal with late payment accounts, credit card negotiation, and collections, they each have different standards and procedures that dictate how they deal with “troubled” credit card accounts.

Detailed debt negotiation” how to” information is hard to come by. Yes, you can legally try to do credit card negotiation on your own, however, expect a long road with a lot of detailed (and probably frustrating) work. Remember, you are one small account to them and they deal with millions of accounts daily. It will take a lot of time and effort to get your case in front of the people who decide how to handle delinquent accounts.

The primary advantage of using a professional debt negotiation company is that they know the ins and outs of all the creditor’s negotiation procedures.They know what to say and when to say it to your creditors. On top of that they also often know the people within the credit card companies whom they need to speak with about your account (the decision makers) which can make for a much smoother process.

Those decision makers will be much more likely to speak with a reputable debt negotiation company because that company typically represents hundreds or thousands of clients whose collective debt can total many millions of dollars. Therefore the creditors are much more likely to take their phone calls and negotiate with them than they are with you.

Surely that does not mean you cannot try to do credit card negotiation yourself but be prepared for the time and effort involved.

Contact us for a Debt Settlement Specialist (925) 208-4384

What Are the Rules of a Successful Settlement for Debt?

When you hire a debt company to conduct a settlement for debt that you cannot repay, remember one key point - that you are HIRING them to do the work for you. You use their services because they are the professionals and will know the best way for you to use settlement to successfully get out of debt as soon as possible.

You Need to LISTEN to them for successful debt settlements
Just like you listen to your tax preparer or your doctor, listen to your debt Specialist. What will they tell you to do? Stick with their plan. Most likely, they will provide you with 2 rules for a successful debt settlement:

1. Do not talk to your creditorsyou hired the debt settlement company to do your talking for you so let them do it? Remember, the settlement is a legal procedure and so your silence is the best way to avoid saying something that could make the process much more complicated (and sticky). They know what to say and when to say it to your creditors. Furthermore, a good settlement company has the established relationships with all the major creditors making the process as smooth as possible.

2. Be prepared to cut back expenses in order to save as much money as possibleThe faster you can save, the quicker your company can get you out of debt and initiate the settlement for your debt with your creditors, it’s as simple as that. While they can eliminate up to 50-60% of your debt, they cannot wipe it out without the money you save under their program. Your short term savings will relieve your long term debt problem.

Contact us for a Debt Settlement Specialist (925) 208-4384