Choosing A Debt Negotiator

Negotiating with creditors can be tough business. They may not be willing to participate at first and  may leave you feeling like you will not be able to obtain a deal. Since credit card negotiations can be difficult and time consuming, many people find it beneficial to hire a debt negotiator. However, not all companies are the same and many people don’t know what to look for when hiring someone to help with their debt relief efforts.

Shop Around

As with any other important financial business, it is important to shop around for the best debt relief company. Each company offers different services and operate in very different ways. For example, some companies may try to charge you upfront for their services, something that should send up a red flag. It is important to find a company that offers a variety of services and does not try to “sell” you on one particular debt relief solution. When looking for a debt relief company or representative ask the following questions:

• What services do you provide?
• Do you require upfront payment?
• Is there any refund or non-payment condition for services not rendered?
• Do you guarantee your work?
• Will you provide documentation of the arrangement made with my creditor?

Verify Credentials

Another  important aspect of choosing a debt negotiator is verifying the credentials of the employees. It is important that you work with a company who has trained professionals that are licensed to provide financial services. Employees of a reputable company will have college degrees or certifications in finance, accounting or law. A credit attorney or financial lawyer is a great representative when negotiating with creditors. Not only can they help you obtain an arrangement, they can thwart creditor attempts for legal collection actions.