The Amateur vs. The Professional

Last week I was talking to a guy who had a lot of questions about the negotiation process and the creditors motivation to settle accounts.  Near the end of our conversation he asked, “Why can’t I do this myself?”

I told him simply, “You can.”  He was quiet for a while.  I am actually asked this question quite often and people are always surprised by my answer.  I suspect it’s because they expect me to start spewing all the virtues of Provanta and extolling our 15 years of experience, which don’t get me wrong, I do eventually.  But ultimately they expect me to tell them all the reasons why they are not qualified and that the process is extremely complicated and beyond any average person’s ability to comprehend.

The truth is debt settlement is not rocket science.  It is a complicated process that involves a lot of time, patience, industry knowledge, and thick skin but it’s not entirely impossible for an average individual to do on their own.  You just need to ask yourself whether you have what it takes and are you willing to take the risks of failing?

Let me give you some other examples to consider.  Some people remodel their bathroom by hiring a professional contractor.  Others watch marathon episodes of home improvement shows, buy a hammer, and start ripping out the tiles.  Some people go to tax professionals to file their taxes while others manage it on their own.  Last month, I was reading an article in a men’s magazine about how to give yourself a suture and stitch up a deep cut or wound.  I read the entire article and I’m about 90% positive that I could stitch up a wound by myself.  But if I stepped on a piece of broken glass right now the last thing I am going to do is grab my sewing kit and start sterilizing a needle.  I will be on my way to the hospital.  My health is worth the effort and costs of seeking professional help.  Is financial improvement worth it for you?

To decide if you want try to settle your own accounts instead of finding a professional debt settlement company with a long and proven track record, ask yourself:

1. Are you an effective communicator and negotiator?
2. Are you prepared to deal with creditor harassment on your own?
3. Do you understand the regulations that govern collection practices? If not, are you willing to learn them, and learn them quickly?
4. Can you set up a disciplined savings plan for at least 18-36 months in order to accumulate the money needed to settle your accounts?
5. In the meantime, are you willing to spend the next 18-36 months negotiating and renegotiating with your creditors?
6. Are you confident that when a settlement agreement is reached that it will be a good and appropriate settlement for your situation?

For Provanta, the answers to all the above questions are yes.  If you can also confidently answer yes to all of the above, then go and take care of your debt!  We’d love to hear about your success story!

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