7 Reasons to Use a Debt Negotiation Service
7 Reasons to Use a Debt Negotiation Service:
First off, I should explain briefly what debt negotiation is.
Debt negotiation is the process of negotiating a reduced pay-off of a delinquent debt.
For example, let’s say you have a $5,000 credit card and you haven’t made a payment in over 5 months. You may be able to negotiate a reduced pay-off / settlement on this account for around $2-$3,000.
That is the basis of debt negotiation. This process can help you become debt free in a few months or years and could save you thousands maybe even tens of thousands of dollars off your debts over the course of time.
It is estimated that it would take the average consumer over 28 years to pay off $40,000 of delinquent debt if they were only paying the minimum payment at a 10% interest rate. Many consumers are paying upwards of 20-30% interest rates.
So debt negotiation is a great way to become debt free in a matter of months or years. Of course with any debt elimination solution, you always have the option to use a service or handle these matters on your own.
This is why I wanted to provide you with 7 Reasons to use a debt negotiation service. If you are interested in learning how to negotiate your own debts then you can easily go to www.byebyedebt.net and take a look at my do-it-yourself program.
7 REASONS TO USE A DEBT NEGOTIATION SERVICE:
REASON 1: Experience
Most of the major debt negotiation services that have been around for any length of time has years of experience in working with various creditors, collection agencies and collection attorneys and they know how to deal with your creditors / collectors to negotiate the lowest possible settlement – Meaning the more money you will save off your debts.
REASON 2: Protection of Your Rights
Most debt negotiation services are well versed and educated in the consumer laws that help protect your rights under state and federal laws which may prevent harassing or threatening calls.
REASON 3: Protection of Your Privacy
Most debt negotiation services will strive to help protect your privacy by not disclosing your private/confidential information to your creditors / collectors. Many consumers make the mistake of disclosing to much confidential and private information to their creditors which may help your creditors / collectors collect the money you owe.
By using a Debt Negotiation Service they can advise you on what information you should and shouldn’t disclose to your creditors to help protect your privacy. In fact most debt negotiation services should re-direct your creditor’s calls to their office to help insure your privacy is protected.
REASON 4: Reduce or Eliminate Harassing Collection Calls
Most debt negotiation services will notify your creditors & collection agencies that they are representing you and therefore will usually handle the calls and communication with your creditors/collectors. This in many cases can greatly reduce or eliminate the collection calls you would otherwise be receiving.
Many creditors and collectors will call you at home, at work, on your cell phone etc. Once again these are calls that the debt negotiation service you are working with could be handling.
REASON 5: Alleviate Undue Stress
Dealing with one’s debts can often times be both stressful and time consuming. By using a debt negotiation service, not only will you potentially save a substantial amount of money off of your debts, in many cases you won’t have to worry about the time and stress involved with trying to deal with your creditors and the harassing collectors that represent them.
REASON 6: Fees Structured on Savings
Most debt negotiation services will structure their fees based on a “Net Savings” meaning that you pay them a certain percentage of what they save you. This fee can and will usually very from company to company. For an example, let’s say that a company charges you 25% of the Net Savings and they save you $10,000 Off your debts. Your fee to them would be $2,500 ($10k x .25)
The great thing about this is that a debt negotiation service is going to strive to save you as much money as possible, because they earn their fees on the amount they save you. The more money they save you, the more they make. It’s a WIN-WIN situation.
REASON 7: Be Debt Free in 12-48 Months
Most debt negotiation services can tailor a program to help you become debt free in as little as 12-48 months, of course this will depend on your financial and total debt situation as well as the monthly payment you would be able to afford into a Debt Negotiation Program.
These are just a few of the many reasons that a consumer should consider using a Professional Debt Negotiation service such as National Debt Consultants, Inc. (NDC).
Of course this information is being provided for educational purposes and results may very.
If you would like to speak with an experienced professional, feel free to contact me personally at 888-883-3287 or by sending an email to jason@nationaldc.com
If you are looking to deal with your own debts and would like the knowledge and information to do so, please check out our “Do-It-Yourself” debt negotiation program at
Sincerely,
Jason Oswald
National Debt Consultants, Inc.
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