Avoiding Credit Card Lawsuit With Debt Negotiations

If your creditor is on the verge of filing a credit card lawsuit against you and you do not want to take the case all the way to court, you can save yourself and the other party all the trouble by simply negotiating debt settlement. Debt negotiation is one of the easiest way to get out of debt. However, there are also certain risks involved when negotiating with creditors and these risks will only lead to more problems if you are not careful. Some creditor will try to scam delinquent debtors to squeeze as much money as they can from the negotiation and will often use the credit card lawsuit as a bait.

In this article, we will discuss tips on how to successfully negotiate with your creditor and avoid credit card lawsuit.

Junk Debt Buyers

Dealing with a junk debt buyer is more complicated as opposed to dealing with original creditors because the former will do what they can to take advantage of the situation. In fact, cases wherein debtors paid money for debt negotiation that never took place! So the unknowing debtor thought all’s well with the case when all the while, his or her account was accumulating penalties without her knowledge. So when negotiating a deal with junk debt buyers, make sure everything is done in writing.

Debt Negotiator

Many debtors tend to not ask all the right questions when they are dealing with a company hired by the creditor to conduct the debt negotiation. Always ask questions when things are unclear to you and make sure you let the negotiator know that you are paying attention to the stuff he or she says. In addition, make sure you are always updated on the progress of the negotiation.

Original Creditor

It is within your rights to negotiate a settlement deal with your creditor in order to avoid credit card lawsuit. Unless you need assistance, there is no need for a third party negotiator. If you can hire an attorney to negotiate the deal for you, do so. Lawyers are well versed in negotiations and are bound by an ethical code of conduct. However, if you chose to do things on your own or through a third party negotiator, just make sure you play an active role and get everything done in writing. You cannot expect eve your original creditor to stick by what they say and not go on with the credit card lawsuit.

How To Negotiate A Car Lease!

You have decided to lease, you’ve seen those great ads in the newspaper and you are ready to head to the dealership to get that deal!

WAIT!!!

You might be able to save quite a bit of money by knowing what you can negotiate and what you can’t.

First, know that the term of the lease (how long the agreement), the limit on miles, and the interest portion of the lease are formulas set by the leasing agent. Although you might have some choices, these items are set by the company.

Also, the residual value of the car, (how much the car is worth at the end of the lease-measured in percentage), is set by the agent. The higher this amount, the better for you! 50% or above is considered excellent!

However, what is not commonly known is that you can still negotiate the sticker price just as you would if you were buying a new car! Sometimes the salesmen won’t tell you this if you don’t ask! Don’t let them tell you that because the car is leased, its price is set in stone! Just as if you were buying a car, find out the invoice price online or the dealer profit margin for that particular vehicle in which you are interested, and begin negotiating up from the invoice price. You’ll do much better to do this than if you negotiate down from the MSRP.

When leasing, the MSRP is referred to as your Capital Cost and after you have negotiated down, you’ll have an adjusted Cap Cost or Net Cap Cost. You can further reduce your Net Cap Cost by negotiating your trade in if you have one.

Some fees such as the acquisition fee (an up front fee that ends up in your Cap Cost) are non negotiable, as are licensing and registration fees. Document fees are often set -but you can always ask if these seem unreasonably high.

Before you are really ready to negotiate, you should know exactly what vehicle you are looking for, including the package, trim and options you want so that you are comparing apples to apples.

Know your terminology so that you can bargain as an informed shopper!

When you are really ready, an excellent option is to send out an email to 7-10 area dealerships asking for the full information on the terms of the lease, their best Cap Cost and to disclose all fees and interest rates (known in leasing as the money rate). When they know that you are informed it is harder for them to hide some of the information. When you get your best offers, then you can talk to them or continue to negotiate by email. KNOWING how to negotiate a car lease gives you the confidence to save up to thousands over the term of your lease.

Presentations – Stand Out Tip – Listen Actively

Standing out is a function of how your present yourself to others and how you react to others. The ability to be a good listener is a strong stand out quality.

However, you need to recognize what good listening is not. Obviously, it is not marginal listening — giving half an ear to the speaker while you’re watching television, reading the paper, or working on your computer. You might be surprised to know it’s also not evaluative listening — where you do hear the gist of what the speaker says, but you’re evaluating the content so you can prepare your response. The dead giveaway when you use this type of listening is when your response starts out with, “Yes, but…”

The best and most powerful form of listening is “active listening.” It fulfills two very basic human needs-to be heard and to be understood. There are three crucial steps to active listening. Think of the acronym EAR to help you remember these steps:

ENGAGE THE SPEAKER. In other words, show the speaker that you’re listening by looking him in the eye, nodding occasionally, showing appropriate facial expressions (a smile for good news, concern for distressing news). Project open and relaxed body language. Also keep in mind that total silence does not imply listening. Give vocal signals such as: “mm-hmm,” “yes,” “really?,” “I see,” etc.

ACTUALLY HEAR WHAT’S BEING SAID. This means you have to pay attention and process the information. You must concentrate on the content of the message, which is what the speaker is saying, plus the intent, which is what she’s feeling or what she means. It may help by repeating to yourself her key words or main ideas and also observing the nonverbal cues she’s giving.

RESPOND APPROPRIATELY. This third step is the key to effectively wielding the power of listening. Instead of saying, “Yes, but…”, you let the other party know you’ve heard and understood him. It can take three forms:

1. Paraphrasing. This means repeating the gist of the message. It’s generally preceded by, “So what you’re saying is…” or “In other words…” or “If I understand you correctly…” The ability to do this lets the speaker know you did in fact hear the content of what he said. The amazing thing about paraphrasing is that once people feel like you heard them, they can be more receptive and open to what you have to say.

2. Probing. This is a particularly important technique in diffusing the tension that comes with disagreement. After the speaker has made a statement, instead of launching into your rebuttal, you probe for more information. “Why do you think that?” “What’s the downside to that?” “Can you give me some examples?” This lets the speaker know you’re interested in hearing his side, which in turn will make him more likely to listen to your side. 

3. Reflecting back feelings. This is the finer-tuned skill of interpreting how the speaker feels about what she said. “You must be so proud,” or “That certainly must have made you angry,” or “I imagine you’re very hurt by that…” are examples of reflecting. This is the ultimate validation a speaker can receive: being heard and being understood. When you give that gift to others, it opens doors, breaks down barriers, reduces anger, decreases resistance.

 Listening actively is a magical skill. Its mastery can have a profound, positive impact on giving you “stand out” presence.