💰 Money School
How to Negotiate With Creditors
Learn how to talk to creditors with confidence. Understand your options, what to say, and how to protect your cash flow when a bill is more than you can pay.
What you will learn
- 1Beginner: Why Creditors Will Even Talk to YouFree 6 min
- 2Intermediate: Preparing and Making the Call🔒 10 min
- 3Advanced: Negotiating From Strength and Protecting Cash Flow🔒 11 min
Beginner: Why Creditors Will Even Talk to You
Something beats nothing
A creditor's worst outcome is getting paid nothing at all. That simple fact is your leverage, even when you feel powerless.
When you call to work something out, you are offering them a better result than silence. That is why the conversation is worth having.
Know the common asks
There are a few standard things people request. A payment plan spreads what you owe over time. A hardship program may lower payments for a stretch. Waiving a fee removes a specific charge. A settlement means paying a lump sum for less than the full balance to close it out.
You do not need to know which one is right yet. You just need to know these doors exist so you can ask about them.
Get it in writing
A friendly phone agreement that lives only in your memory is not protection. Any deal you reach should be confirmed in writing before you send money.
Ask them to email or mail the terms. If they will not put it in writing, treat that as a reason to slow down.
Do this before lesson 2
- ✓Write down which bill you are most behind on and the exact balance.
- ✓Learn the four common asks: payment plan, hardship program, fee waiver, and settlement.
- ✓Decide to get any agreement in writing before you pay anything.
Create your free account to unlock all lessons
You just finished lesson 1. The other 2 lessons in this course are ready for you. Create a free account to continue, then unlock the full course for $49 (or take the whole Money School for $177).
Full course $49. First lesson stays free, always.