Many times prospective clients will contact our company, Nationwide Debt Reduction, Inc., ask questions specific to their circumstances (as everyone’s personal financial hardship is different) and ask; Why can’t I negotiate my debt myself? The truth of the matter is you can try and do yourself…and some people have. As with everything else, we are the professionals in this regard, and similar to a car mechanic, it takes a lot of time, patience and you need to know what you are doing. Myself, I drop my car off at the repair shop when there is something wrong with it, I then get a lift to work, and then pick my car up later that day. No hassles, I know the job was done right by a professional that does this for a living and no regrets because I can spend the evening with my wife and children.
However, if you have the fortitude, patience, stamina and discipline you may be able to negotiate your debt down by yourself. We just tell our prospective clients:
- You need to be able to put money aside each month that you cannot touch for anything else – no matter what.
- You have to have the patience to deal with debt collectors who will be calling you and not necessarily telling you the truth.
- You would be willing to settle your debt for less than what a professional can get you. In other words, a creditor may offer you 30% off of the balance you owe, however how do you know you couldn’t get 70% off of that same balance that you owe?
- Finally, the person you are working with willing to put the terms of the settlement in writing and give that to you before you make any payments to them? If not, it would not be prudent to make any such payment.
We know that when really sick, we usually leave it to a professional…like a doctor. When in legal trouble, we usually leave it to a professional…such as an attorney. When we are struggling with an over-abundance of debt…we know we are the professionals in the arena.
In most cases, creditors will not settle for less than the balance owed when dealing with the borrower. When they do, the settlement will probably not be as low as it would be with our negotiators. They know that most people will give in to their pressure and threats and they are well prepared to make this process very difficult for you. As a third party, we at Nationwide Debt Reduction can step in on your behalf and achieve better results. In addition, here at Nationwide Debt Reduction, we help absorb the harassment that often comes with being late. Finally, we put you on an affordable plan, giving you the discipline necessary to achieve your goals. (Most people are completely debt free in 3 years or less)
It’s always best to avoid having your debts get to this point, in the first place. Here at Nationwide Debt Reduction, we know this, however most of the time our clients got here through no fault of their own. There was a sickness, a death, a divorce, a job loss, a wage reduction, and the list goes on. However, once you are here, you do have options.
Debt negotiations can be a difficult and lengthy process and most likely your time is better spent elsewhere. However, you would literally need the patience of Job to do it yourself. Debt collectors can be threatening, harassing and down right mean. Trust us, we hear it all. If the debt collection agency is also a law firm, you could see judgments against you in no time. Then what would you do?
Our suggestion: stay away from companies that state there is a “secret that the credit cards do not want you to know.” There is no such secret. Debt negotiation is debt negotiation. It is arguing back and forth between two parties to come up with an agreeable settlement between two parties.
Secondly, some clients make settlements with creditors, without having the agreed upon settlement in writing first. Sure a collector can tell you that his company will take X dollars for a settlement. However after you pay it off, assuming you have the money to do so, unless you have something in writing from the other company, it will go back to your word against their word.
Finally, never lose hope. Although these people can be down right mean to you, you have to remember that it is unsecured debt that you are dealing with. Unlike secured debt such as your home or car, unsecured debt is different, hence negotiable.
For more information please feel free to contact one of our professional debt advisors and see if a debt relief program is right for you. Our toll free number in Phoenix is 1-800-890-6658.