Who Will Work with Debt Negotiators?

Debt is no joke, and when it comes to dealing with other companies and lenders, avoiding it seems nearly impossible. Some debts are simply unavoidable, such as medical bills and car loans, while other have a little more variability, such as credit cards and personal loans.

Regardless of what kind of debt you are in, however, there comes a point in just about everyone’s life where they find themselves requesting the help of debt negotiators to help limit their outstanding balances. Not every company or lender is as flexible with their negotiations as the next one, but in general, here is a breakdown of how lenders will work with you and experienced companies like Liberty Debt Relief.

Hospitals — Yes!

Believe it or not, hospitals have specific people in place to act as debt negotiators. Similar to credit card companies, at the end of the day, hospitals want to get paid as much as they possibly can by patients without having to render services through a third party collector. There are also thousands of recorded instances that entail a medical facility overcharging or wrongfully billing someone for medical services. Those fees can come from planned (but not performed) procedures, coding errors, or simply just misprinting information. It is always crucial to carefully sift through medical bills to make sure everything listed for pending payments are actually services you received.

Many hospitals and other medical facilities may reduce a patient’s medical bill by several hundred dollars if the patient simply asks for (and provides documentation of) wrongful charges. As expensive as medical procedures and services are, there are countless people every year who cannot afford medical attention, especially when it is unexpected, and most medical offices understand that. If you choose to use a debt settlement service, the amount you owe can likely be even further reduced by several thousand dollars with no interest.

Credit Card Companies — Yes!

Credit card companies tend to offer a lot of leeway when it comes to your accounts. Most of the time, they simply want any kind of payment for the amount they have lended you. This is often the lender that consumers and their debt relief companies will call first because they are willing to work with you on setting up a payment schedule and interest rate that works best for both of you. Many people find that credit card companies will negotiate debt and minimize the amount they owe by as much as 50 percent of the original cost!

Car Dealers — Somewhat

Trying to get a car dealer to say they will join your credit card companies and debt negotiator to settle your debt is not always simple. Many dealers have very specific rules depending on the state the loan is based in and what the loan agreement entails. However, all car loans offer an option to pay off the total amount you owe, which you can use to your advantage.

The payoff quote is usually a few hundred or thousand dollars less than what you would owe if you continue making payments through the duration of the loan and can save you thousands of dollars in interest rates. The quote is usually available online or by calling the dealership.

Payday Loan Creditors — Not Typically

Payday loans can make a tough situation even worse for millions of people every year. Payday loan creditors pride themselves on offering unsecured loans to just about anybody who has a job and a checking account, but the downfall is incredibly high interest rates and excessive fees that can turn a small loan into a high one within weeks. This specific kind of creditor is also notorious for not working very well with inexperienced debt negotiators, which can make escaping these creditors even more difficult. Your best bet when dealing with any loan creditor is to refrain from trying to take care of it yourself. The more experienced help you can get, the better your finances will be in the long run.

Dig into Research

When it comes to debt, every company and lender has its own rules and procedures. Before you ever sign a contract for any kind of loan or service, make sure to read the company or lender’s policies and procedures for dealing with outstanding debt. Keeping a record of this will help you stay on track with making your payments. If you happen to need a negotiation, contact Liberty Debt Relief today to get the best team of debt negotiators on your side!