Game Plan For Negotiating Debt Via Debt Settlement
There are two ways to eliminate debt via debt settlement and they are dictated by the funds the person seeking debt relief has access to or will have access to on a later date.
If funds are available right away, believe it or not some people in debt have the funds available to settle their delinquent credit card accounts whether they know it or not. Equity on the house, pension plans, family members, etc.., are great sources for loans when it comes to negotiating on your debt. For people with available funds I like to go after the higher debt amounts first. The more debt you eliminate right off the bat the better off you will be when it comes time to negotiating on the lower debt. Having funds creates leverage when negotiating on your debt, it is like that ace under your sleeve. A debt negotiator becomes even better when he knows fund will be available to settle accounts as soon as possible, it makes him/her more confident when speaking with creditors, collectors, lawyers, etc..
Negotiate on one or two accounts at the time, no more. Offers will come but if you have funds and you are not getting the percentages you and your negotiator thinks you deserve then move on to different accounts. Remember having funds available creates a huge advantage. Move around and look for the best settlement offers. Knock one account off at a time, remember some creditors offer better savings than others, listen to your negotiator, together you must make smart decisions. You and your negotiator are a team, always make sure you are on the same page. let him work the creditors make and take the phone calls, never interfere in his work or try to negotiate on your own. remember your negotiator has the skills to help you become debt free.
If funds are not available right away. Do not include all of your accounts in a debt negotiation program, only include those you can negotiate settlements on every three to six months. Continue to make your monthly payments on those accounts not in the debt settlement program. Negotiate on the account with the smaller balance first, knock the accounts out one at a time. Work yourself up to the accounts with a higher balance. As with people who have funds available right away you can also try to get loans from friends and family, pension plans, etc…
Work on a strategy with your negotiator, having no available funds does not mean you cannot negotiate your debt. It only means you must be cautious because you do not have the upper hand. Many people will somewhere along the line be offered incredible settlements, it is your job to be ready to accept them. That is the reason you joined a debt settlement plan, remember it is not a consolidation plan and you do not have for ever to settle your accounts.
By: Dan Delgado
Tags: Ace, Credit Card Accounts, Creditors, Debt Negotiation Program, Debt Negotiator, Debt Relief, Debt Settlement, Delinquent Credit, Family Members, Game Plan, Lawyers, Loans, Negotiating Debt, People, Percentages, Six Months, Smart Decisions, Tho, Two Ways, Ways To Eliminate Debt