This evolved from a conversation in the VCDT about getting your creditors, utilities, etc. to lower payments, etc.

Here are some tips for negotiating. First of all, CALL them. Don't send an email. An email is so easy for them to send an automated response to. And that response is likely to be 'no'.

When you call, skip over all the voice automation. Ask for a representative right away. Make sure you have some time to sit and be on the phone a while. It doesn't happen in just a few minutes. (A call I made yesterday took almost an hour, but in the end, it was so worth the effort.)

When talking to them, always assume the attitude that you are RIGHT. Take some time to work up your attitude before you call. Think about what you want and how you are going to say it. Once you get through to a person, be a little annoyed. (Not all mad, just a little.) Be FIRM, but polite.

State clearly what you want. A better rate, lower payments, an extention, an adjustment on your bill, lower interest, etc.

Make sure they know that they 'can't get blood out of a turnip', as my granny used to say. In other words, you have limited funds.

Mention the name of a competitor that you are considering transferring your business to. Tell them if they want to keep your business, they WILL negotiate with you.

If you aren't getting anywhere with the representative, ask to speak to a supervisor. And continue the firm, slightly annoyed tone.

Don't take 'no' for an answer! Keep at it until they offer you something.

Document everything! Write down the name of the person(s) you speak to, the date, time, arrangements made, etc. Make sure they know you are documenting. Ask them to send you a letter or email confirming everything. Then you also have the documentation on their letterhead.

All this will tell them you mean business and you're not just calling to whine.

An example - My cable company tried to bill me $200 for some work they did that was supposed to be covered under the interior wire maintenance plan that I pay a small monthly fee for. It took six months and a lot of calls, but I finally got out of paying it. I ended up calling the corporate office (which is higher up than the call centers) and had my bill adjusted on the spot.

It can be done!

Good luck!

kk~

kandykane wrote:

Document everything! Write down the name of the person(s) you speak to, the date, time, arrangements made, etc. Make sure they know you are documenting. Ask them to send you a letter or email confirming everything. Then you also have the documentation on their letterhead.

I'd like to emphasize this. If you're EVER trying to settle an account for an amount that's smaller than the amount you owe--do NOT give them a dime until you have it in writing that this will cover the amount IN FULL. Don't take the word of the guy on the phone that he's cutting you a special deal and you have to send a check for $800 right now. Get everything IN WRITING!!!

Dani

Document everything! Write down the name of the person(s) you speak to, the date, time, arrangements made, etc. Make sure they know you are documenting. Ask them to send you a letter or email confirming everything. Then you also have the documentation on their letterhead.

Word. Only shoddy customers service reps won't give you their name...granted, most cannot give out their direct extension, but you need to be able to ask to be transferred to them if you call back or reference who you spoke with when you get to the supervisor(s). I worked a customer service phone job and it annoyed me to no end when people had no clue what had happened on their previous call...of course, some of the crappy workers would give out a fake name (yeah, seriously, they didn't last long...) and that messed with the rest of us, but mostly it was the fact that the callers didn't write it down or didn't ask to begin with.

And likewise send them an email correspondece documenting what took place. That way if you have to prove anything to anyone at least you have evidence. I always start my letters/emails as "As per our converstaion of _____."

Also pray that you get someone who you can actually understand!

Po

Oh- I forgot to say check out Dave Ramsy online- he has so much great information on this stuff.

Also whatever you do- do not give them any access to your checking, savings, or any credit card. If you do so, they can take money out at will and never pay you back! Checks or money orders are the best way to go!

Po

This is definitely what I needed. I'm SO bad with negotiating on the phone that it's embarrassing. My husband however can pretty much get whatever he wants bill-wise because he knows how to talk to them. Hopefully with some practice I can get that way eventually!

I work for a payday loan company in Canada as a part time job, and I need to agree to CALL your creditors. Part of my job is to collect on past due accounts and customers who are past due get so upset that we are calling in regards to their account and believe that we are horrible people. We are human, we understand money gets tight at times but we are a company. If you borrow money from someone or use a service and you are unable to pay the full amount right away, CALL them before they call you! They are much easier to work with if you call them first and arrange a reasonable payment period or whatever you want to get out of the call. DON'T string them along with a bunch of lies, your better off giving them $20.00 than nothing because they will be more responsive and don't take advantage of the arrangement you have made! Technically they do not need to make any arrangements with you as you agreed to pay X amount on such a date and you have broken your end of the deal. They could just send you to a collector which would affect your credit! Creditors are very reasonable at the beginning, while your account is fresh but don't expect them to wait months and months for payments.

Also, if they do call you, ANSWER the phone! Yes, I am paid to call customers but I really hate taking 2 hours out of my day to call our past due customers which could be cut down drastically if you call us or answer the phone and give us a reasonable time period to clear up your account.

Another thing is before you sign any papers, read everything thoroughly and don't expect the CSR to tell you every single detail. This way, you know all the terms and conditions of the service you are being provided. Some places actually cannot reduce interest (such as the company I work for) and it would be a huge waste of time arguing with the CSR that they should be able to do this or they did not have the right to do that when you signed the agreement.