3 Good Reasons Why Not to DIY With Debt Relief

Some have the opinion that consumers should not sign up with a debt management company but should do it themselves. But if the truth be known, very few consumers can do this.

Why?

1) Emotional Connection
One reason many For Sale By Owners do not not successfully sell their home, Realtors say, is because of how emotionally they’re tied to it. They cannot disassociate themselves enough to look objectively at the transaction to the degree a Realtor can. It’s the same thing when facing financial hardship, especially when emotions are exasperated by demanding and bullying collection agents. Bill collectors, working on commission, press to get the most from debtors they can get--that’s how they get paid. And most debtors don’t even know there may be a way to negotiate and pay less. Even if they did, the old adage “he  who represents himself has a fool for a client” certainly comes into play. Ultimately the financial duress imposed by the collector will eventually drive the debtor to throw in the towel and pay all of the balance due.

2) Time and Attention
Dealing with collectors takes time, and attention away from more constructive activities. But that’s debt relief professionals’ full time job. They can take all the time in the world to go back and forth with a collector to get the best settlement. More times than not, it’s the collectors who finally throw in the towel and accept anything they can get. This let’s the consumers keep their mind and time on their work to make the money so they can pay their debts.

3) Knowing the Ropes
A tactic employed by bill collectors is intimidation. They simply just don’t know how how to deal with collectors, other than out of fear. An experienced debt relief professional, however, does have the experience in dealing with the major creditors and their agencies. They not only have the knowledge, but the economies of scale, which helps them work much better settlements and proposals with the creditor.

So bear these three issues in mind before you consider doing it yourself with debt settlement
and debt management.