99% of the time your fees will be paid in CASH. That is how most clients operate and, frankly, how most debt negotiators prefer to be paid.
Occasionally, though, you will encounter a client strapped for cash but who may possess a skill or merchandise you can use. If you can be flexible on how you get paid, BARTERING your fee in trade for something else of equal value can sometimes benefit both YOU and YOUR CLIENT.
One of my favorite barter situations occurred several years ago when I negotiated a substantial discount on a debt with a local nursery. My fee was set at a percentage of the savings and came to over $2,000. Unfortunately, my client was unable to pay both my fee and the settlement. Since I did not want him to lose the excellent settlement nor did I want to miss the fee, I suggested we barter for a product instead. I had just completed building my new home at the time and needed sod for my front lawn. So, in trade for my fee, my client provided me with a truck load of 20 palettes of sod along with the starter fertilizer.
Of course, I could have purchased the sod with the same money I should have received for my fee, but this made it easier for my client to make payment.
Use your imagination and keep an open mind as you deal with your clients. It need not even involve a large fee... I once worked for a $300 box of cigars from a local cigar shop in lieu of a cash fee.
Bartering your fee can add a new dimension to your practice and benefit both parties.
Scott F. Soape
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2 comments:
Yes i am with you. With the economic crisis hitting the state so badly, its rare to see any troubled persons out of their debt. Debt settlement companies are really of need now.
Quite interesting, I like your blog. People will find this blog quite helpful.
Battering is new concept, i will keep in touch of it.
There are other companies available as well. For instance, websites like www.debtreliefgeek.com come real handy in such situations.
Thank you for your comment. I am not familiar with the company you mentioned. Their website indicates they have only been around since 2008, so they have a very short track record. Sadly, there are many companies offering debt counseling that only want to take people's money without providing a valuable service. Again, I have no information about the one you mentioned. My program only deals with "commercial" (or business) debts rather than "consumer" (or individual) debts and my company has been in business since 1997 without a single complaint. I encourage everyone to do some research before using a debt negotiation service or investing in a business opportunity.
Scott F. Soape
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