The New Year and decade is an opportunity to bring about change for the better. For people whose resolution is to become debt free through debt settlement, here are some important tips they need to know.
Before undergoing debt negotiation process, it is indeed important to do sufficient preparation, both financially as well as mentally.
First of all, take a good and long look at your current financial situation. Determine if settlement is truly your financial solution.
If yes, let’s proceed further. Start your negotiation process in a professional manner. You are reminded to keep a record of whom you speak to whenever you contact your creditor. You must write down the date, time, name and phone number of the person you deal with. If both of you have come to an agreement, you must write down the details of the points so that you have a record. By having all these, even if there is a dispute over the settlement, you still have references on hand.
You are reminded not to raise your voice when dealing with your creditor or debt collection agent. Bear in mind that most of the time, the conversations between you and the representative are monitored and recorded. Don’t get trapped by your bad emotion.
When you are in negotiation process, you must always be reasonable and consistent. Do not practice flexibility here. You are not supposed to change your terms every time you call. Stick to your offer. Don’t be panicked when the creditor tries to counter offer you. Consider carefully before making your decision. If you can’t make your decision on the spot, inform the person that you will reply later.
When both of you have reached an agreement, you must get an official agreement from your creditor. Make sure all the agreed terms are stated clearly in written form.
By following the smart tips stated above, you will be able to kick off your 2010 plan successfully.