A common misconception amongst many consumers is that the only way to get rid of credit card debt is by either paying it off or by filing for bankruptcy. Many times paying it off just isn’t possible due to financial constraints and declaring bankruptcy can hurt an individual many more ways than just financially so that should be avoided at all costs.

Another alternative that makes sense for a great many people is credit card debt negotiation. This is accomplished by working with a well-trained representative of a reputable debt settlement company who will work directly with the credit card companies that are owed money in order to reach a viable solution that is agreeable to both the creditor and debtor.

How It Works

When dealing with debt it’s all about the numbers. What happens in credit debt negotiation is the debt negotiator or debt arbitrator will work out a financial settlement price as a percentage of the whole. For example; if the cardholder is $25,000 in debt the negotiator works with the bank or financial institution to reduce it to $12,000 and the remaining $13,000 is then written off or forgiven.

That is of course a simplified explanation of how it works but I believe it conveys the general idea behind credit card debt negotiation. Another positive is that it will stop the collectors from contacting the debtor at home or at work through phone calls and threatening letters. All correspondence automatically goes through the debt settlement company.

Finding a Reputable Company

It is absolutely imperative that any individual interested in working with an organization to negotiate their credit card debt does their homework in advance to make sure that that company is in fact reputable. The very first thing to do is to contact the Better Business Bureau to make sure that there are no outstanding complaints.

The next thing you want to do is go online and do thorough research. I’m talking about spending hours and doing it right. Search consumer watchdog sites, forums and any and all other information sources that you can find. Don’t be afraid to use the search box on Google. That’s what it’s there for.

Questions to Ask

Asking questions is a big deal when it comes to finding the right debt negotiation company. You’re going to want to know what the training and credentials of the negotiator that will be assigned to you are. You’re also going to want to get a guarantee that they will do exactly what they claim they will do.

Because this is new to you you will no doubt have a great many questions to ask about how the program works. Write them down in advance so you do not forget them. If you feel as though the representative is evasive or does not answer your questions to your satisfaction then move on to another company.

It is your financial future that is at stake so take the time to educate yourself as much as you possibly can about how the credit card debt negotiation process works. The more you know the better off you’ll be and the quicker you will become debt free.

In previous articles, I have talked about strategies for creating a strong opening to your presentation. Once you’ve grabbed your audience’s attention, it’s time to move into the body of your presentation. Here, you’ll discuss your topic in more detail. If your purpose is to inform, you’ll use the body of your presentation to describe your topic and demonstrate how it relates to your audience. If you’re goal is to persuade, you’ll use the body of the presentation to define the problem and offer your solution. In this article, we’ll discuss proven methods for developing the body of your presentation.

Remember, you have a limited amount of time in which to address your audience, therefore you must limit the number/breadth of main ideas covered in your presentation. Depending on the time allotted to you, it’s best to stick to two to five main points. You need to provide supporting evidence for each main point, so allow enough time to develop each point in adequate detail. It’s usually best to err on the conservative side – if there’s a question in your mind about how many points you can reasonably discuss, go with the lower number.

Once you’ve determined the most important issues to illuminate during your speech, the next thing you should plan is the appropriate organizational structure for your speech. Yes, you really do need to plan your presentational structure. There’s nothing more frustrating than listening to a speaker who jumps from one topic to another without explaining how the topics are related, repeats herself often, and never seems to get to the point. These are just a few the side effects of poor organizational structure. You should organize the body of our presentation in a manner that makes sense for your subject. In fact, most subjects naturally lend themselves to a particular structure.

The most common organizational patterns are:

1) Topical – use when several ideas relate to your theme, each distinct idea becomes a main point. This structure is useful for informative speeches.

2) Chronological – uses time sequence for a framework. This structure is useful for both informative and persuasive speeches, both of which require the presentation of background information

3) Spatial – organizes material according to physical space. This structure is useful for informative speeches.

4) Classification – organizes material by putting things into categories. This structure is useful for both informative and persuasive speeches.

5) Problem/Solution – organizes material by describing a problem and then presenting a solution. This structure is useful for persuasive speeches.

6) Cause/Effect – organizes material by describing the cause of a problem and then presenting the effects of the problem. This structure is useful for persuasive speeches.

As you can see, some subjects could easily be organized by a number of different patterns. Chose a structure that supports the presentation of the supporting materials you plan to share with your audience. Whatever organizational structure you chose, make sure to stick with it throughout your presentation.

There is an old adage that when two opposing parties in a legal matter proceed to litigation, then they have both lost their case. Having negotiated thousands of real estate and finance deals in my career as an attorney, I have listed below what I call the 5 “B’s” of successful negotiation:

1. Be prepared. Know your facts and have the relevant information to support your position readily available. Nothing stalls negotiations better or undermines your position more, then when you have to scramble and seek out the information necessary to bolster your position.

2. Be Patient. With good negotiations, reaching a resolution takes time and is not like ordering “fast food.” Don’t feel compelled to make a decision right away. If you are unsure about something, there is absolutely nothing wrong with waiting 24 hours to make a decision. If there are several items to accomplish in a negotiation, focus on those points that the parties are more agreeable on, and tackle the more difficult issues at a later time.

3. Be Consistent. Have a goal of what you want to accomplish going into the negotiations. If need be, “map out” a strategy to reach your goal(s) and plan for contingencies. Most importantly, once you’ve reached an agreement regarding a point of contention, stick with it. Don’t agree to something with the real intent to address and “change up” the issue at a later time. That approach wastes time and undermines one’s own credibility.

4. Be Reliable. Imagine a car that starts only half the time. That’s how adverse parties feel about someone who fails to perform on past promises and then approaches their opposition for new concessions. Granted, in an ideal world, people would perform on their agreements 100% of the time. But in life “things happen” and parties are often called upon to make accommodations and exceptions to agreements long after the negotiations are over. It’s reasonable for a party to be less flexible in their accommodations for people who repeatedly fail to perform. It becomes increasingly difficult for repeat ‘offenders’ to persuade the opposition that “this time things will be different.”

5. Be Civil. This point should go without saying, but negotiations move towards success much faster when parties practice civility. If being civil to the other party proves difficult, then you have an excellent reason for engaging an attorney, a real estate agent, or any other professional intermediary on your behalf.

There are times when parties to a settlement leave the negotiation table not getting everything they wanted. That’s fine. In most good deals, the parties need to concede some, but not all, of their position in order to reach a resolution. Those people who insist on going to the negotiation table with an “all or nothing” attitude, do not make good negotiation partners initially, but by using the preceding 5 points, they will in time.