subject: Debt-Reliefs: Doing It Yourself Versus Paying A Third Party [print this page] Debt-Reliefs: Doing It Yourself Versus Paying A Third Party
Many times when we are faced with debt, we either try to ignore it by pretending it's not there until it becomes intolerable, or we try to fix it ourselves, hoping that there is an easy fix and we won't have to hassle with involving a third party, not to mention having to pay for their services. The truth of the matter is, there is a lot of negotiating involved with debt relief, and unless you are a very good negotiator and you have a lot of knowledge and experience working with credit card companies, you will not be able to relieve your debt near as effectively as a third party can.
Credit card companies lots of times will be more than willing to work with you to help relieve your debt since enabling you to pay your debt would also be in their best interest as well, but keep in mind that creditors will always have their best interest in mind when working out deals with you, not the other way around. Third parties that you hire, however, will have your best interest in mind while working out deals with your credit card company, and they have a lot of training in what they do, so they will be able to negotiate down to the lowest interest rate possible, waive or reduce fees and charges that you may not be able to do yourself, and they will know what to look for in your credit report to help benefit you further since often times mistakes are made by the credit card company.
Not only will going through a third party save you time, but chances are, they will save you a lot more money than the amount it will cost to pay them, not to mention they will help you to get out of debt much sooner. Generally, the cost for a third party is around two dollars a day (which can fluctuate depending on the amount and types of services used).
