REWARDING YOUR DEBT NEGOTIATOR

finance-rewardDEBT NEGOTIATION

I would strongly suggest that you find a Debt Negotiation company that lets you pay the Negotiator on how good they do their job.

The industry standard is to pay the Negotiator 25% of what they save.  (There are companies that charge 15% of the savings, but I notice they don’t stay in business long.)

What you are doing is paying the Negotiator more money when he does a better job.  When he does a good job, you end up saving more.  I know, that sounds like a play on words, but here’s the example that will make sense:

SETTLEMENT DONE BY THE NEGOTIATOR

You have a $1000 debt and the negotiator settles it for $500.  That means, the bank or credit card company will take $500 and call it even.  You save $500 and 25% of that is $125 for the Negotiator.  The total amount you spend on this settlement is $625.

Let’s say the Negotiator does better.  He settles the debt with the bank or credit card company for $400.  He saves you $600 and 25% of that is $150.  The Negotiator makes more money!  However, when you add the $400 to the bank and the $150 for the Negotiator, you pay $550.

So, the more you pay the Negotiator, the less money you spend overall on that debt.

That type of fee is called Performance Based Fee because it is based on how well the Negotiator does his job.

You also don’t have to pay the Negotiator if he doesn’t settle one of your accounts.  There are some companies out there that have you pay their fee in full whether or not they end up making a settlement on any one of your creditors.  hat’s another good reason to pay the Negotiator as he does his job.

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