Holicent
VIP Contributor
You want to save money, but you also want to get the best terms you can.
Here's a simple way to do it:
1. Get your creditors' phone numbers. Don't even think about calling them on the phone or going in person — that's expensive and time-consuming and not worth it. Find them online or use a service like Mint that lets you search for your debtors by zip code. Then call them from a low-cost phone using a service like Google Voice or Skype.
2. Start with the lowest rate first and work up from there if you can't get the lowest one without compromising other terms such as payment frequency or interest-only payments.
3. Negotiate with each creditor individually, rather than trying to settle all at once with a single company that may have multiple offices and charge different amounts for their services depending on where they're located (some places may charge more for "in person" negotiations than other locations). If you've already made payments on time in good faith, don't worry about finding out what happens if they decide to stop accepting new business because of your renegotiation efforts.
Here's a simple way to do it:
1. Get your creditors' phone numbers. Don't even think about calling them on the phone or going in person — that's expensive and time-consuming and not worth it. Find them online or use a service like Mint that lets you search for your debtors by zip code. Then call them from a low-cost phone using a service like Google Voice or Skype.
2. Start with the lowest rate first and work up from there if you can't get the lowest one without compromising other terms such as payment frequency or interest-only payments.
3. Negotiate with each creditor individually, rather than trying to settle all at once with a single company that may have multiple offices and charge different amounts for their services depending on where they're located (some places may charge more for "in person" negotiations than other locations). If you've already made payments on time in good faith, don't worry about finding out what happens if they decide to stop accepting new business because of your renegotiation efforts.
