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Outstanding student loan debt is a major problem for many graduates. It is possible to negotiate with your creditors and possibly reduce or even eliminate your student loan debt. If you’re not up to the negotiations yourself, you can hire a company to negotiate with creditors on your behalf. However, if you fully intend and have the ability to pay your debt, it’s usually better to contact your creditors yourself. If you reach the stage where you can’t keep up with the repayments, it’s vital that you contact your creditors as soon as possible and explain your situation.

It will help your situation greatly if you manage to contact your creditors before they contact you. Professional debt negotiating programs offer plans, similar to debt consolidation services: They negotiate with your creditors provided you have saved the minimum balance to settle the debt. Before signing on with a debt negotiation or consolidation service, you might want to check and ensure your creditors are willing to work with the agency you plan to choose. Consider using agencies that offer actual counseling and education, instead of simply enrolling all clients in a debt management program.

Debt negotiation is a process where you negotiate with your creditors to pay off your debts at a reduced amount – for example, if your student loan was for $16,000, you can negotiate a payoff of $7,500. Creditors will report accounts that have been reduced, and it will stay on your credit history for seven years. Note that creditors have no requirement to negotiate with you or a debt negotiation company and that they will often play “hard-ball” at the beginning of the negotiation process.

The very fact that you have appointed a debt negotiator on your behalf is a sign that you are a bad risk. Most creditors will settle for cash now as opposed to the balance over the next 10 years or so. Beware of debt elimination scams that insist consumers are not under obligation to repay their debts because creditors charge illegal interest rates. This is simply not true.

No matter what the state of your finances, there are positive solutions for both you and your creditors. Explain to them right up front what your situation is and how you believe that things can be worked out so that everyone will benefit.

By aggressively taking matters into your own hands, your creditors will know that you mean business and are motivated to seek remedy. Yes, asking your creditors to simply forgive some of your debt is always one option and is a good starting point when negotiating your student loan. Don’t expect your creditors to roll-over, however! But it does show them that you expect some action.

Consolidation versus Forgiveness

Debt consolidation is the better of the two when it comes to influencing your credit score. If you choose a debt consolidation company, your creditors may report delayed payment. When searching for a debt negotiation company, one of the best places to start is with debt consolidation lenders.

While credit counseling and debt consolidation are both pretty straightforward services, many people have trouble understanding the difference between debt negotiation and debt management. Many debt consolidation lenders provide detailed information about student loan debt, student loan debt consolidation and more.

Your financial situation may allow you to take out a debt consolidation loan. A debt consolidation loan helps manage your debt because the loan is usually over a longer period of time and possibly at a lower interest rate than your existing debt. It is a more aggressive approach to getting out of debt than making minimum payments, using credit counseling, or trying to negotiate with your creditors. If possible, consider borrowing from a friend or relative as the interest paid can be far less than from a financial institution. Please know however, that a debt consolidation loan is nothing more than a way of putting off the inevitable: The loan will eventually have to be paid off.

When your monthly bills become too much for you to handle, it makes sense to use debt consolidation or debt negotiation for solving debt and credit problems. If bills and other heavy payments are bogging you down, take action sooner than later to find solutions to your problem. Continued financial stress and burden can ruin everything in it’s path, not to mention permanently damaging your credit. If a student loan is at the heart of the problem, debt negotiation and/or consolidation can help you get back on track and out of debt.

When someone trusts you in a negotiation (you’re always negotiating), they’re more likely to believe what you tell them. Thus, there’s hidden value in trust when negotiating from a long-term perspective. Once trust is broken it’s difficult to regain it. Therefore, broken trust sets off negative ripples that can have unintended and unexpected consequences in the future.

Let’s look at the trust factor with DACA (Deferred Action for Childhood Arrivals) as an example. The kids in the DACA program were brought to the US by their parents. In most cases, they had no input as to whether they would stay where they were, or travel to the US. They instinctively trusted their parents with that decision. Then, there’s the US government.

The US government basically said, if you register for the DACA program and abide by our requirements (i.e. check in every 2 years and make payment to stay in the program, go to college, serve in the military, stay employed, pay taxes), you’ll be OK in the US.

Some registered and some didn’t. Those in the DACA program trusted the government and abided by their mandate. Then, trust was thrust out the window. Those in the DACA program cried, ‘We did what you asked of us! Why are you going back on your word? We trusted you!’ Those that did not register for the program, if not stated out loud silently thought, ‘see, I told you so; you should not have trusted them. The government can’t be trusted. Now, the information you gave them will be used against you.’ The ripple that such a message sent to non-DACA members was, stay in the shadows and let the darkness protect you.

In the eyes of those in the program, the US government went back on its word and broke the trust it had conveyed. Suffice it to say, the ripples set forth from this situation will cause the government not to be trusted in future matters by different entities. They’ll mentally relate their situation to the resemblance of the DACA plight. That means those submitting information requested by the government will be skeptical at best and cynical at worse when contemplating a course of action that they should adopt. In essence, through the loss of trust, the government has made it more difficult for others to trust it.

If I tell you the truth, will you believe what I say and trust me? If my perception of the truth is altered in the future, will I be declared a liar? If so, what will become of our future negotiation efforts? Those are questions every negotiator needs to consider before and during a negotiation. That’s the hidden force that trust has on a negotiation.

When trust is the foundation upon which a negotiation is built, the truth becomes a happier companion in the negotiation. Therefore, when the truth as one knows it shifts, the shifting of the truth can still have believability.

Change allows you to embrace new experiences, and everything changes. Thus, what’s true today may be proven not to be valid tomorrow. Nevertheless, once trust has been established and nurtured by consistency, over a period of time change can withstand the onslaught of doubt and suspension. In so doing, even when your negotiations become difficult, you’ll have less of a challenge finding a path to success, simply because you had trust adding hidden value to your negotiation… and everything will be right with the world.

Remember, you’re always negotiating.

Is your Christmas present shopping done yet? No? Me neither! If you are still looking for clever and stylish presents for the women in your life, I will share with you the results of my research of the best ideas to give to Mom, grandma, to sisters, aunts and cousins alike.

The first idea for a gift that will be appreciated and welcomed by 100% of females is a gift of flowers, plants or a gift basket. There are so many options and variations for the perfect custom Christmas gift basket that you can easily and quickly buy online or on the phone for all the women in your life.

For me, I love to send Christmas centerpieces especially when I know the person, such as my mom, loves to entertain and will proudly display her centerpiece during the whole Christmas season. Centerpieces can last from 1 to 3 weeks! So can Christmas plants…

A poinsettia is the classic Christmas plant of course but did you see what your local florist can do in the way of twisting the tradition to include candy cane poinsettias, burgundy sparkly poinsettias in arrangements with white chrysanthemum, frosty branches, pine cones, berries and big bows.

All I’m saying is that you can’t get florist quality and style in a large department store. And for the person who doesn’t like fresh flowers (is that possible?) or for the allergic woman in your life, just get her a gift basket. There are as many gift basket ideas as there are stars in the sky….ok, maybe I’m exaggerating a bit but you get the picture….

From fruit baskets, gourmet baskets, tea & coffee baskets, chocolate baskets, fruit & cracker baskets to pamper me please baskets, lavender and vanilla beauty product baskets and chef’s baskets, the possibilities are endless… You can order flowers, plants and gift baskets online easily and get your order delivered in the next few days in the city of your choice. Of course, if you are rushed for time and like visiting local businesses personally, you can also order these items at your local flower shop.

The other obvious gift idea for the special woman in your life, is jewelry. What woman wouldn’t like a new pair of earrings, a necklace or a bracelet? If this is a special year and you want to get a gift that will be treasured daily for years to come, get your Mom, your grandma or your sister a birthstone ring. Just determine if she wears gold or silver and order a precious keepsake customized to her birth month.

Finally, for the book lover, the reader in your life, the ideal gift is an e-reader. This is a perfect gadget for the woman in your life who likes to keep up with the times, who travels or who just plain old loves reading. I was always thinking it was better to have paper books until this past summer. Don’t get me wrong…I still love the feel, the smell and the sensations that come from devouring a new book!

Just before my trip to Nashville this year my whole book bag got soaked before leaving (I won’t go into the details, let’s just say it involved a tap dripping…) Anyways, let’s just say I don’t have the problem of bloated and discolored books anymore nor will I have the problem of lugging heavy books now that I have an e-reader. If the women in your life already has one, you can get them a gift certificate for buying more books, if not, get them an e-reader. They are getting very affordable now and go from simple and inexpensive to high tech and inexpensive so it’s a win win situation.