For some, negotiating a credit card debt or a hospital bill is like the blind date from Hell. It’s a stressful and sweat-inducing situation. You never know if the person on the other end will be nice or a complete pyschopath. And will they even let you talk? It’s like the worst blind date, and you get stuck with the bill! The Creditors are well versed and have tons of tricks that make it difficult to make any real progress. Here a just a few ways that craft that blind date from Hell:
1. Hiring and Firing. Generally, when you talk to someone about debt, it’s never just one phone call. It’s going to be a round of phone calls. This means that when dealing with creditors directly, it can be rewarding but you have to put in the time and energy. And maybe, just maybe you can start to work towards a deal. However, with the pressure that comes from strict monitoring, inflexible hours and minimum pay with no benefits, call centers have one of the highest rates of turn-over per industry. Because the business of negotiation bends on the people on the other line, if they leave, you start from square one. “Becky,” who may have been open to a deal, may leave tomorrow and with her, goes your leverage. The next representative has no obligation to agree to the previously agreed tentative deal. It can be like building sandcastles on the seashore. Here today, gone tomorrow.
2. Never in Writing. The clerk on the other end further, is not your friend. They’re your adversary whose bonuses depend on your demise. However, they are not invincible and sometimes, you can work out a deal. However, so many people work so hard to get that deal and forget the last step: put it in writing. And so it goes, often people will pay and pay and pay; but when they get to where they think it’s the end, the Creditor moves the goal post again!
3. The Creditor Created the Game. Sometimes, it may feel like the rules are made against you. Unfortunately, when dealing with Creditors, they are! While outside regulation exists, like the Fair Debt Collection Practices Acts, private internal procedure are not as highly regulated. The industry still sets up its metrics and indicators of success in terms that are often not in your favor. And most importantly, the Creditors have attorneys Ready to Go! The bottom line: they are not fighting on a level playing field, so tread carefully.
For REAL SOLUTIONS, Call or Text “HELP” to (312) 620-6499
Negotiation with your Creditors may take a personal and professional touch. On the other hand, other options and opportunities exist. It’s a good time to sit down with a professional and experienced attorney who can review them with you and help you develop a strategy to tackle your debts once and for all – without silly games. Book your appointment on our website or text “HELP” to (312) 620-6499.