When you receive an overpriced bill, it usually ends up being a nightmare and you just keep thinking about how you are going to pay these bills, thinking about every opportunity and possible way to pay these hefty bills. Most people look for alternative ways that actually lead them to another dead end, making them more and more drowned in debt and financial troubles. What most people don’t realize is that most of these bills are quite negotiable. In this way, if not clearing off your bills, these negotiations will at least provide you relief with the payment terms and can help you manage your bills as per your feasibility. So before you finally give up on everything and resort to more troublesome options, negotiate your bills. Here’s how you can negotiate different types of bills which you are indebted with.
Pro tip: Everything is negotiable if you use the right strategy.
General Utility/tax bills
There’s good news for people who are crushed under hefty utility or tax bills, they are equally negotiable like others. If you have not paid your utility or tax bills and they are falling behind on a big amount then you can work out a negotiation plan. Draft out a plan and call the service providing company to explain your situation. The negotiations and tactics may vary based on the resource from where these bills come from. For e.g. A general utility bill can be negotiated to a lower price or the repayment time can be extended; based on your circumstances and your negotiating skills. One way to get an upper hand over your service provider is to have all the knowledge about their promotional offers. If you have opted for one of their promotional offers, chances are they might increase the charges after a limited time and may bill you as per those rates. The best way to go with such a situation is to call them and talk to them, if the service provider insists you to pay the same amount then you can threaten to cancel their services. This works as an armor.
Credit Card and other debts
There is always credit card and several other consumer loans, people are always struggling with. When people highly indebted with credit cards, student loans, mortgage, auto loans or others resort to options like bankruptcy, they should also give negotiations a thought. If you default, your creditors will poke you through every possible way and make your life miserable. If they can why can’t you just talk about a better and manageable repayment plan? If you can afford, the best way to go through this, is to hire a bill negotiating expert or a company that can work out as an intermediary between you and your creditor. In most cases, credit card or other lending companies (unsecured debt) will settle for a portion of the amount payable.
Again, if your situation is temporary, review your contract. On my consumer loan, I can ask for a repayment holiday once a year. The interest would keep accruing and I would pay just a bit more from the next payment. You can negotiate with your creditor or lender to let you pay your debt while freezing your interest rate at a fixed number. However, your negations more or less depends your financial situation. So to validate your request make sure you prepare a monthly income and expense record. Also keep a complete track of what you have already paid in debt and interest, this can give you more power to negotiate and the company might actually be willing to provide you relief. Getting a negotiating company’s services is a better option to consider because some creditors might not agree to their terms. However negotiating experts know how to bring them to an agreed settlement. Check out for some of the best credit card negotiating processors and before you finally decide to go with a settlement plan, ask your creditor or negotiator about what effects will it have on your credit score and future loan prospects?
Medical/health care bills:
Almost every person must have experienced this that bills related to health and medicine can be easily negotiated. Generally, when you pay some money to the hospital or health care professionals for their service they provide you with some discount. In certain circumstances you can also ask your health service provider to give you a discount even if you don’t opt for your insurance policy.
Many people on a daily basis are able to negotiate their hospital bills. If you make the billing staff, understand how much you can pay at the moment, and pay them a small amount in cash. This way, they may realize the situation and revise your bill to a payable amount. There are also chances that the amount you are billed may have some errors in it. Give your bills a thorough check and ask for the expenses you are billed for. You are likely to find unnecessary billing and faults in your bill, which if addressed then might help you save money.
There are many relief offers provided to people who are facing financial issues. If you are in a similar situation go for such allowances by clearly telling your health service provider about your situation. Through this you will be able to save yourself with a manageable payment plan.
Final Word
Remember if you can’t pay it, NEGOTIATE! Instead of getting burdened with more debt. Some quick tips: never go with the first offer, use your service cancelation weapon wisely and get your negotiation deal written and signed by a person of authority. You can always negotiate your way out of debt and if not that then you can at least get some relief.
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