DIY Debt Negotiation Or Using a Professional

: Chris Lee Law Firm

  Filed under: Debt settlement

debt negotiationWhen it comes to debt negotiation, things might be fairly straightforward, or the terms and agreements could be so complicated you feel like you were just hit by a legal train!  Everyone’s situation will vary, so there’s no short answer on whether you should handle debt negotiation on your own or call upon the services of a  professional.  However, here’s some food for thought as you make your decision.

Before You Hire a Professional

Do all the research you possibly can.  If you’re reading this blog, then you’re well on your way to beginning the research stage.  There’s plenty of advice on this blog and elsewhere on the Internet when it comes to making the most of your debt negotiation experience.  Soak up everything you can.

Start strategizing.  Based on what you’re learning, where does your debt fall in?  Debt negotiation strategies will vary if you’re dealing with a credit card company versus a mortgagee.  How does your debt align with the recommended strategies you’re discovering?

Draft your own debt negotiation plan.  How much financial information have you been able to bring in?  Are you including plenty of details?  Does your plan sound reasonable given the context?  How does it align with other plans you’ve seen?  These are all important questions to ask before you pitch your debt negotiation plan.

If you go through all of the advised steps in this list, and still find yourself unable to go through the debt negotiation process on your own, then we advise that you select a professional to help you get the very best terms on your new, restructured debt!  Hopefully, you’ll only go through debt negotiation once and then pay it off for good.  A professional can help you make the most of this experience.

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