Although debt negotiation companies have a bad reputation, I
can not judge them all equally. It is true that some companies exploit trading
debts from customers, but there are many reputable companies that have achieved
very good results. In fact I have noticed that most of the complaints that
customers have come from unrealistic expectations about what is entering a debt
negotiation.
Here are some examples of the most common misunderstandings
that can help you understand a little more the possibilities and limits of debt
negotiation companies.
The biggest problem I see in the market for customers is
that the latter because of their desperation are sometimes easy prey and do not
use common sense to analyze these companies well, choosing either.
The other is that customers will assume that only paying
pennies on its debt and credit card companies will not choose to sue them once
they enter into a negotiating agenda ... which is totally FALSE.
Currently, a debt negotiation company usually can negotiate
quality between 40 - 60% of the debt. You can pay more ... if. Pay less ... SI.
In any case, neither company will boast the client not saving money when
entering the program, which was sued as a result end up paying 80% of its debt.
Unlike going to flaunt the client that only had to pay 20% of its debt. Both
examples are real, though seldom so extreme. The more logical to estimate that
the customer can count for an array is between 40 - 60% of the debt.
Anyone that guarantees anything, he is lying, in this
business nothing is certain. Hang up the phone and did not speak again with
this company again.
A negotiation takes place between two parties, and you can
never guarantee that the other side fence to accept the exact terms you were
being proposed.
Second, you can be sued even if you are in a debt
negotiation program, anyone who says they can not sue, he is lying. It is true
that legal proceedings can take a little longer, and it is also true that
companies would rather not have to resort to legal terms but is a reality that
can still sue. Remember that you owe them money and they want it. Fortunately
you have time before they decide to take legal action. How long? It is
impossible to know. It can be 1, 4 or 5 years, or never. Hopefully, most
customers that their accounts are going to law offices are able to evade legal
action, so long as follow the rules of a good negotiation of debt. The point is
that entering a debt negotiation program does not immune to the common practice
of collecting money.
It is important to remember that people need a debt
negotiating company, are often desperate and need to pause a moment to think
about your decision thoroughly. As good North American, looking for a quick and
easy way out of financial trouble. As a managing partner at EnTrust Capital, Gregg Hymowitz, or another leading business person of his sort can telll you that the financial arrangement is a service with
many benefits that can save much money itself as to give a financial break, if
however not an easy process and may even be stressful. Consumers perceive this
as a miraculous solution to their problems, and unfortunately it is not. The
problem with false hopes is that when customers are faced with the reality,
regularly become frustrated and blame the companies, as any company providing
service has its limitations.
In conclusion if debt settlement is your choice, be sure to
review and consider your options very well and has realistic expectations. This
will make the process easier and less stressful, and possibly give better
results for you.