Around 77 million Americans are in debt collection.
If you're one of them, it means you're all too familiar cycle of demanding phone calls, letters, and stress. You may have even tried to negotiate a settlement or payment plan you could afford, only to have the debt collector insist on more.
It's enough to leave you feeling boxed in, but there is another option. You can secure the services of a debt negotiator. Debt negotiators take on the job figuring out a settlement for you.
It might seem strange to hire someone to negotiate your debt, but there are some excellent reasons to do so.
Let's jump and look at them.
A Debt Negotiator Isn't Emotionally Involved
Your negotiator wants to get you a satisfactory outcome, but they lack any feelings
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A debt collector can't do that a professional negotiator. That objectivity lets your negotiator drive a hard bargain on your behalf.
They Know What's Standard
Think of the last time you started a new job. You probably saw co-workers do things that mystified you at first. After you worked there for a while, you picked up those same behaviors because they're standard.
Debt collection is like any business practice. There are acceptable standards. For example, medical debts are routinely settled for around 50%.
Experienced debt negotiators know what's standard and where there are exceptions.
It Frees Up Your Time and Energy
If you deal with constant stress, such as collection calls, it isn't just mentally taxing. It also takes a physical toll on you.
One of the common symptoms of stress is fatigue. Fatigue leaves you lethargic, cranky and can mess with your decision-making skills. Basically, it's the worst possible state to be trying to fix a problem.
Turning over the problem to a debt negotiator frees you from the constant stress grind of debt collections.
Fewer Threats
Debt collectors aren't allowed to issue threats. Even so, it happens all the time.
For example, a debt collector might say: "If you don't settle this debt, we can sue
...ancial positions of the borrowers, their lack of knowledge as well as the superior bargaining power of the lender to get the borrowers to agree to these loans. The lenders should bear the major responsibility of these loans, as they are aware of the ramifications of such transactions. The borrowers are also responsible, as they should not enter into contracts without adequately understanding the consequences of such actions. In many cases, the lenders do not provide the information that would assist the borrower in making rational decisions. There are instances when the borrower does not care about the increased penalties, they just want to get their hands on the money, and worry about the consequences later. Some borrowers just live beyond their means but once they get sucked into a predatory loan, they begin a cycle of debt that they just cannot get out of.
Companies have learned to deal with this working around these quirks if the employees work can well together, that makes people happy, increasing work flow. But if one person disrupts this flow, by interrupting people’s norms in the workplace, then they will suffer the loss end. Oroczo says there are other behavior habits that the company may not agree with but in specific situations may be accept as an office norm. “This is the refrigerator. You may put your lunch in it.
If you seriously want to get out of debt, you will use this method in your debt repayment plan.
For debt, it begins with a simple late or missed payment. These missed payments allow companies to punish card owners without discretion. With this, lenders hike up interest and payments on their customers for negligence, regardless of what their reason may be. Whether it was a tough month for the family or someone died and expenses had to be payed, lenders do not care one bit. From 2013 alone, student debt was at 1.21 trillion dollars, and mortgage standing at a whopping 7.9 trillion (Miller, R. K., & Washington, K. (2014). These loans also feed into why we as a country are in debt, which currently stands at seventeen trillion. These missed payments also greatly affect interest rates from lender companies. Companies wait for payments to come late, which allows them to impose fees and hidden charges that must be paid along with the delinquent payment. With increased rates comes...
I am going to interview Lylliam Davila and she probably the right candidate about how to reduce the debts. Since her previous lifestyle was in difficult moments financially and she manage to pull it off from it. Now she has been a wealthy woman, where her debts are gone and now she able to manage financially better. She had a long way in her life and I know this person since high school. She used to live with her mother and she didn’t finish her school. Because she was working to help her mother to pay her bills and trying to pay her mother debts. Everything was fine until her mother start moving a lot and put her in debts with credit cards, bills, etc. She told me that her debt was almost 10,000 and she was getting paid minimum wage.
This can actually be one of the most easy ways for meeting your requirements, while clearing a huge debt.
To understand the student debt crisis, one must first understand what caused it and what results from it. College undergraduates use student loans to finance the cost of tuition, room, board, transportation, and personal expenses while attending (Gage and Lorin). Student loans are different from other forms of debt because basic consumer rights like bankruptcy protection don’t apply to students who default on their loans. As a result, students are virtually locked into their debt, offering them little to no ability to refinance it. Solutions to debt problems like consolidation are available to students but that process doesn’t involve shopping for a better deal from competing lenders like it does in other debt areas. Therefore, interest rates often remain high and the loans remain with the original lender (Vanegeren). As Kayla Webley expl...
Suddenly I found myself in serious debt from missing work, doctor?s office visits, and paying outrageous prescription costs. I am still paying off medical bills for lab work, and other tests and emergency room visits.
Getting sick is another negative factor of being overly stressed. Chronic stress compromises your immune system and stress hormones affect the body’s ability to fight off illness due to the fact that thymus’s ability to stimulate and coordinate the white blood cell activity.
“You need to relax.” This phrase is one that most individuals hear weekly, and sometimes daily. It is hard to deal with situations that put a mental strain on the body, such as problems in a relationship, at work, or at home. In order to try and adapt to the situation, the body goes into panic mode. If the emotions that are associated with these occurrences remain constant, they can begin to impact physical health as well as mental health. The physical symptoms put an even greater strain on mental health because the individual begins to worry about them. The individual becomes lost in a vicious cycle.
"Forty-three percent of all adults suffer adverse health effects from stress; 75 to 90 percent of all physician office visits are for stress-related ailments and complaints; stress is linked to the six leading causes of death--heart disease, cancer, lung ailments, accidents, cirrhosis of the liver, and suicide." (Miller, 1993, p.12) " Stress plays havoc with our health, our productivity, our pocketbooks, and our lives, but it is necessary, even desirable." (Oxford, 1998, p.29)
Stress is a normal part of everyday life. From what happens to you and around you, plus the many things that one does to themselves put stress on the body. The common causes of stress that most people encounter are problems in personal relationships, starting a new job, financial situations, daily hassles, illnesses and legal problems (webmd.com). When the body encounters long periods of stress like those our body begins to give off warning signs that something is not right. When we encounter these warnings they shouldn’t be ignored. Our body is telling us that we need to take it down a notch and give
Despite that many don 't realize the dangers, stress is one of the most significant problems of modern times, causing serious problems on physical and mental health. Stress symptoms may be affecting a patients health, even though a doctor may not realize it. Don 't assume that an illness is to blame for that excruciating headache or your sleep deprivation. Let 's face it, everyone copes with stress. Sometimes stress is in our favor, but other times it could feel like stress is taking over. " Stress is a normal physical response your body uses to protect itself from challenges life throws at it each day"(Stress and Health: How Stress Affects Your Health) Stress affects everyone differently, so it 's important to understand what may be causing
...ven many the freedom from debt that allowed them to return to school or pursue a new, sometimes lower paying, yet less stressful occupation. Financial counseling is another alternative that has helped many to understand the nature of their debts, and gain control of them so that lower wages or new careers became a possibility. These and many other stress alternatives are available to most everyone, but it’s up to each individual to make a conscience decision to improve their lives, only then can they start down that road into the unknown; which for most, has been a very liberating journey.
Long – term stress can even require the brain, leaving you more vulnerable to anxiety, and depression; it can be a main cause of moodiness and frustration. Many of us are aware of the physical symptoms of stress-muscle pain, rapid breathing or an increased pulse. At the same time, they also suffer from emotional of stress which can be like roller coaster of highs or lows. emotional effects rang from emotional overeating to a feeling of being overwhelmed and pressure. stress impact many other components, which leads to difficulties in making decisions, loss sense humor, poorer concentration, negative thinking. As can be seen, stress nearly brings serious effects to people. Apart from the effects above, it can be the main reason which creates your decreased productivity at work. stress makes people less control their pace work, which leads to dissatisfaction. about 40% employees said that they are burned out because of work-related stress and loss $300 billion each year in the workplace . In addition, your relationship with people around also become worsens because of your stress. In fact, stress makes people puzzled and their life can undergo a considerable