Debt Consolidation or Debt Negotiation – Which To Choose?

No matter how wretched your financial situation is, no matter how inescapable you feel your debts are and no matter how deep of a debt puddle you’re currently standing in, there is a financial solution as well as a means to get your feet dry and back on solid ground. There are plenty of answers, various sure-fire ways for you to get out of your current financial mess and become a financial success. And of the most common ameliorative financial options to choose from, here are two prime choices – Debt Consolidation and Debt Negotiation.

Both solutions are quite similar in that they heal deep debt wounds and bring individuals back to a stabilized financial position, but both tailor to two different types of indebted individuals. Debt Consolidation plans assist those in need with sufficient means. On the other hand, Debt Negotiation assists those in dire need, in situations where money is too tight to apportion.

First, let’s take a look at the debt consolidation option, and secondly the Debt Negotiation vein, each outlining specifics as to allow you more information to better decide which is best.

The Debt Consolidation Option

Debt Consolidation is accommodating specifically to standard indebted individuals, one’s who need actual consolidating to better organize themselves financially and stabilize a plan to finally pay off accrued due debt. Debt consolidation is primarily best suited for individuals who are financially able to, in the least, provide the minimum payments required through a debt consolidation motion.

In practice and structure, Debt Consolidation is a process where an action combining or “consolidating” one’s debts -whether they be personal loans, home equity loans, mortgage debt, car loans, credit card debt, or other financial liabilities- into a single loan occurs. Simply enough, the individual in debt is in essence, and through assistance of a debt consolidation company, accumulating all of his or her debt together to deal with it in one sum. This is done by taking out a single loan to pay off all spread out debts collectively, as one large whole.

The aforementioned process is usually done with intent to achieve a lower monthly payment, one that can be extended over time simply to pay off debt through one primary vein and in one go, gradually over time. And if carried out properly, debt consolidation can and most certainly will lower one’s annual interest rate and/or monthly payments, hence providing more available funds to save month to month.

The Debt Negotiation Option

Sometimes referred to as Debt Settlement, Debt Negotiation is often a financial option for indebted individuals who cannot handle going through a standard debt consolidation motion. Reason here is simply due to lack of funds; if said individuals cannot provide funds for the minimum monthly payments usually attached to a well-structured debt consolidation repayment plan then a debt negotiation program is the most realistic next step to take toward solving outstanding debt and credit problems.

What happens here, and to a hassled indebted individual’s benefit, payments to creditors are halted, put on ice. The selected debt negotiation company pulls payments from you monthly, safeguarding those funds in a specific account, either the company’s or your designated personal one. Through this period of monthly pulling the debt negotiation company is working for you, negotiating with involved creditors for lower payoff amounts, usually up to 50 % off your bulky debt total. And upon successful negotiation, a one time payment is provided to applicable creditors from your debt negotiation company.

You might think that this has a negative effect on your credit score and you’d be correct. Your credit score is lowered, yet, this lower score is only applicable for the length you’re in the negotiation program. And even after the program is complete, creditors are required to place a ‘paid in full’ note as to avoid putting a permanent negative mark on your credit score. Overall, credit furbishing is provided through the aforementioned or through a provided credit repair service to remove all negative traces.

Which To Choose?

To choice is up to you. One thing must be kept in mind; choices should be made based on your financial capacity and overall ability. Know which financial program is best for you. If you’re in a standard debt situation and need some organizing to pay off all your debt, seek debt consolidation to do so. Yet, if you’re in a thick financial mess and have minimal, almost non-existent funds to allocate through a normal consolidation program, request a debt negotiation option to fix you up.

How To Exploit Misinformation And Disinformation When Negotiating – Negotiation Tip of the Week

In most negotiations, some form of misinformation is conveyed. That can occur in the form of disinformation, which may or may not be considered misinformation. The way you and the other negotiator perceives the differences between the two determines the path of the negotiation.

“… but I don’t lie!” The person making such a pronouncement, more than likely, just lied to you.

This article delves into how to exploit and use disinformation when negotiating and how you might also consider using misinformation as leverage to enhance your negotiation position.

Misinformation:

While misinformation (i.e. information cited wrong, unintentional representation of the facts, information omitted, etc.) can be disheartening in a negotiation, it can be forgiven if the information was not delivered with malice and/or the intent of drastically dissuading you from your negotiation plan. That’s the marked difference between misinformation and disinformation.

Disinformation:

Disinformation is the clandestine intent to influence an action that makes you question not only what the truth is, but it also makes you question yourself per the validity of your thoughts. That can be devastating in a negotiation. In such a scenario you’re not really sure what reality is. Thus, you negotiate based on the ghosts you’ve assembled in your mind. That’s like helping the other negotiator negotiate against you.

How To Advantage Your Position:

  1. Verify whether misinformation or disinformation is being employed against you. This can be accomplished by knowing the facts before assembling at the negotiation table. More than likely there’s a mixture of the two. In that case, discern which is more prevalent by asking the opposing negotiator to provide the source(s) of his information. It’s very important to make that request because the rest of your strategy will flow from that point.
  2. Seek to catch him in a situation where you know his information is suspect at best and false at worse. If you know he’s ‘on-the- ropes’ while trying to defend himself, let him stew and observe his body language (i.e. perspiring, touching his face, rubbing his hands, etc.) Those will be signs of his uneasiness with the position he’s in.
  3. Challenge him by asking his perception of the truth and to what degree he’s being forthright with you. Based on his response, assess to what degree you’re willing to continue in the negotiation. Definitively state that you won’t tolerate any form of mistruths. Let him know that trust hangs in the balance and the only way you’ll continue is if you can trust him.
  4. Understand that the preceding strategy has a maximum effect when you’re in a power position in the negotiation. Therefore, consideration should be given to the degree of power you have and how it’s perceived by the other negotiator before you attempt to implement it.

With a premium being placed on the truth in a negotiation, you might question why a negotiator would convey some aspects of information and omit others. The answer may lie in how far he’ll go to get a negotiation deal and the possible deceit he’ll engage in to accomplish that goal. Thus, the more you probe to uncover his hidden agenda, his source(s) of motivation, the greater insight you’ll gain into the mind that operates his actions. Once discovered, you can become his puppet master, controlling him and the flow of the negotiation. That will align you for the negotiation win… and everything will be right with the world.

Remember, you’re always negotiating!

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Create a Lively Marketing Presentation

A lively presentation will impress your prospective clients! This will keep your customers’ attention and it might lead to more profit for you. Follow these instructions to create animations for your next talk.

Step 1: Add excitement, but in moderation. Your talk should be captivating and interesting to your audience. At the same time, it’s best not to overdo it. Moderate the amount of animation and video clips you include to keep your presentation from annoying. You can add color and interesting fonts but ensure that you are able to maintain a professional outlook and feel for your presentation too. As an example, the screen that announces a price increase shouldn’t have lively animations zooming across. Keep it appropriate and limited.

Step 2: Use timed content. It can be difficult for presenters to remember that a PowerPoint or Flash requires a click for every little bit of animated text. Try using timed text on your presentation so that the person presenting it will not have to try to memorize it all. Enter at the right moment in the presenter’s speech. (You might need to practice and fine-tune this).

Step 3: Spice up your graphic displays and diagrams. Other animations, such as charts and graphs, can be added as well. Make sure that facts and statistics that are the most important stand out among the others. Use a bar chart which depicts an ascending bar in order to highlight rising profits. Having a visual representation during your presentation is something your audience will appreciate.

Step 4: To explain a process, use animation. When a segment of your advertising presentation needs to be explained, utilize illustrations to get the points across. The presenter should click to show the first step in the process before explaining it. When the user is finished with the first step, he or she ought to be able to click and have the second step appear, without any further action on their part. The concepts will be easier for your audience to grasp if there are good visual graphics to explain the steps. This is better than one large graphic all at one time.

Step 5: Make a joke. If a presentation has some complicated segments to it, break it up with a little light humor. A heavy part of your presentation should be followed by a funny comic or dancing caricature. This will allow your clients both some laughs as well as the chance to digest the information presented. Plus it will stop them from coming to the conclusion “my, this presentation is long and dreadfully boring….”. Add some humour to break things up.

Step 6: Practice beforehand. If your presentation has cute little clips that require excellent timing or ones that will only show up with a mouse click, make sure that you or the presenter practice the presentation. The audience should be surprised as the graphics appear; the presenter should not. Ensure that the presenter is well prepared for the animated presentation.