Your creditors will increase their interest rate once you delay their payments and add penalty charges if you stop making payments. And it is the mission for debt negotiator to ensure creditors reduce debts and lower their interest rate to avoid any further financial burden and even bankruptcy on borrower.

Debt Negotiator Jobs

The debt negotiation process is a strategic and a timely matter and because of this reason the consumer or borrower often seek the assistance from debt negotiation company.

The worst time for the financial crisis was over but the unemployment data shows that 10% of American was living without a job due to slow speed of hiring.

So be prepare for the call and you will need to deliver effective and strategic negotiations skills on debt settlement with creditors, collectors and attorneys on behalf of the consumer under this condition.

Tips On Debt Negotiation

• Understand the financial situation of the consumer and learn on the their debt issue before you start any debt negotiation process with creditors
• You should obtain detailed information from the National Consumer Law Center or the state’s attorney general to know your borrower’s right before contacting your creditors
• The most effective debt negotiation is to reduce the total outstanding debt on an average of 40% with shorter time frame of payback which allow the consumer to regain back control on their personal finances
• You may stress bankruptcy filing in bad debt settlement offer from the creditors
• Obtain the debt settlement agreement from your creditors once the deal was confirmed in the end of negotiation process.

Negotiating requires two or more parties and not necessary an agreement will be conclude in the end. The process of negotiating might took more than two person depending of the agreement complexity.

Here are some useful tips to help with your negotiating process and improve your negotiation skills:

Don’t Over Compromise In Negotiation

Negotiation is a process of give and take between two party. When you give a concession to the buyer, always ask for something in return.

Lots of negotiations get off to the wrong start because both party involved have not taken the time to define clearly the areas where they disagree.

The situation is even worse or deteriorating when one side take the advantage of forcing the negotiation to death end by forcing another party to pen a deal on the agreement which doesn’t create win-win situation in the end.

Remember, do not over compromise in the negotiation until the end agreement doesn’t benefit on your side.

Listening As Crucial Negotiating Skills

You should listen to the other party while they speak in order to understand their interest.

Listening also show sincerity to reach an agreement from your side and create sense of respect from the other party.

It is good to enhances trust and keeps tension low by listening during negotiating and effective questioning.

Listening meant to allow us to gain valuable information, that we can use to our benefit and possible advantage in negotiation.

Having more information at our side will allow us to fully develop our own negotiating strategy.

Conflict Management Tips

It is natural for people to disagree each other sometimes because different people has different thinking and interest. And it is not comfortable to see new conflict emerge in your workplace which impact the working culture in your organization.

To solve the conflict with negotiation skills doesn’t come in easy way. People who negotiate a lot tend to be much more skilled at it than people who have not participated in many conflict negotiations.

First evaluate yourself on whether you have sufficient experience or negotiation skills to resolve the conflict.

Second, analyze the conflict situation and the reason why there’s argument created in the first place.

If you jump into the disagreement between the two party without knowing why there’s conflict, then you are jumping into the middle boxing fight and become the punching bag victim in the end.

Practice the ‘stand in no one side’ during the conflict resolution to create a fair atmosphere and negotiate with positive and respectful approach.

It is a idea to resolve conflict by creating a win-win situation where there’s a compromise balance gain for both party in the end.

Create a sense of mutual respect between both party and this will positively bring them into compromise each other and agree on win-win resolution.

The example of conflict management skills above was not meant for workplace conflict issue. For workplace conflict, engage your Human Resources department and inform them immediately as they have the expert negotiator to solve the issue.

Basically the rule remains the same for the salary negotiation whether you are hopping to a new job or sitting in existing job.

Be very patient during the whole negotiation process, do not jump into requesting salary demand or better compensation offer until you got the job offer.

Once you got the offer call from the employer, that’s where the negotiation game of salary and compensation starts and that’s where the best part begin.

Salary Question During Interview

Take note that most of the big corporation let the Recruitment team from Human Resources to handle the salary and compensation package negotiation. Remember, you don’t have to reveal your current or expected salary to your interviewer.

Here’s the tips on how to escape the salary question during your interview session.

• The common question where the interviewer raise the eye brow and asked “What is your requested salary”. That’s the tricky part in the beginning of the interview, you should answer at such response “Before we negotiate on the salary, I would like to know that I am the right person to fits into this job description you are going to brief me”
• If the interviewer wants to know the exact figure that you are requesting or currently earn. You can answer honestly as such “I’m interested on the salary and compensation package that will keep me motivated hence productive and I believe salary will not be an issue for your company to attract talented people”

How To Negotiate Salary

Let say your interview goes well and the next call you receive will be from the Human Resources Recruitment team. That’s where the actual negotiation on the salary and compensation package starts and not with your interviewer.

• Do not say “No” if the salary on the table was below than what you expected. Say “I need to think it over again” and this answer will keep the negotiation game alive
• Research salaries in your field or the work you are doing to get the current market value
• Brief on your expected salary requirement and it will be good if you specify the range based on the market value

Without a good open channels a communication, negotiations cannot occur at the first place and that’s why the negotiation result depends on the negotiator.

What Does Good Negotiation Means?

The negotiation process can be divided into the following stages in order of preparation, information exchange, explicit bargaining and closure.

A good negotiator in anytime will try to improve the chances for a good result. But before that, negotiator will find a way to establish rapport with his or her opponent.

Once the trust and in sync foundation was build through a good communication, the negotiator will proceed further in the bargaining strategy piece and reach the final agreement on the deal.

If the deal doesn’t strike in the end, a good negotiator will know he doesn’t lose anything on the day nor the opponent since they have build a foundation of trust.

The foundation is very important and good negotiator will knew that is only the matter of time and understanding from both parties to strike any future possible deal.

Negotiation skills training can shape up the discussion technique which involve the sales and marketing person.

Once you have determined what services you are offering your clients or customers, sales and marketing person can build his/her skills to dramatically increase his/her chances of getting the deal signed and future deals closed.

Most of the sales and marketing person KPI (Key Performance Index) was measure by amount of deal & money closed in every month, thus they need to be sharp and quick in the process of negotiation.

If you are the employer, you would want to have a good deal closed by your Sales and Marketing department.

Sales & Marketing Negotiation Skills Training

So why not push for more budget on negotiation skills training for your Sales and Marketing department?

Most of the training objective was to ensure you can leave with a firm grasp of the governing principles to become a successful negotiators and with practical tools that help you in the future conduct of negotiations.

The Sales & Marketing Negotiation Skills Training consist of the learning process as below: -

• Learn how to start a negotiation
• Understand the research on fact & figure impact on negotiation
• Effective bargaining techniques and strategies
• Create win-win result between you and the other party
• Build better relationship and bond with other party
• Defend skills against aggressive negotiation tactic
• Emotional and behavior control in negotiation process
• Negotiation styles and focus in negotiation process

Remember, good negotiators was not strengthen by his position status and he can fight tooth and nail and sometimes lose if necessary.

Any soft skills you learn yesterday have the rule of thumb of do’s and don’t when using your soft skills.

Negotiation Skills Attitude

In any situation, attitude is vital in any core soft skills and you need to show positive attitude in your negotiation despite it might fails

Amateur negotiators tend to give up easily because they misunderstood that nothing is negotiable.

Do not walk out from your negotiation room without words, people will not understand that this is a tactic and they might interpret as end of negotiation.

Communication Skills

You need to speak it right to make things right, and you need to understand that negotiations cannot happen without communication.

First you have to establish a mutual trust between you and the person you are negotiating.

You won’t know that the mutual trust eventually will reduce the stress of negotiating process and increase the chance of successful deal.

Even after the deal strikes and close, the person you negotiate with will have a long term relationship with you.

Planning Before Negotiation Start

Before you get into the negotiation process, develop your own strategy in your mind on the opening-middle-end of the game.

You need to understand your opponent first, whether they will possibly come out with any new terms during the negotiation process.

They will do the same as you, plotting their own strategy as well.

No one wins or lose in the end of the negotiation deal, but planning will help to strike a deal in the end.

Evaluate Current Deal & Explore New Deal

If you have watch the movie “The Negotiator” by Samuel L. Jackson & Kevin Spacey, both of them develop strategy when negotiating on the hostage rescue or release.

Bothy skilled negotiators explore the offer and sometimes there’s counteroffer as well in the negotiation process.

Negotiators use psychological thinking to seek for opportunities when exploring new deals in the current situation.

Timing is often the factor for the current deal to happen and if not, the new deal will chips in just to end the negotiation process.

Closing Deal

If you can negotiate with your opponent, you need the skill to close the deal.

Do not rush in the closing or delay in the closing where it might possibly lead to bad result as time kills deals.

Get the right timing to close the deal and you could be the king of negotiator.

The ability to perform negotiation is one of the most valuable soft skills you can bring to any job.

If you are applying for any position that related to Sales Marketing, negotiation skills was one of the soft skills that your employer would like to see in you.

Negotiation Skills & Process

Recently we have read the news on the partnership deals between Microsoft and Yahoo in search engine world.

It was believe that negotiation was carry out before the deal, and it the ends the deal was form with a win-win situation.

So negotiation process is about both party reaching a good deal and involve compromise in the end of the day.

Sometimes negotiation may fails as people fail to negotiate due to imbalance deal in the give and take.

If both party was good in playing the negotiation game, the deal will be strike in month or sometimes year.

Bad Negotiation Skills

“Either you take it or you leave it!”

“This deal in non-negotiable”

What happens if these word strikes out during the negotiation process?

Remember that good negotiation skills isn’t about winning and it isn’t about someone else losing.

It is the soft skills to create the balance of interest between two party in the end of the deal.

Good Negotiation Skills

Negotiate is unavoidable when you steps into business world that fueled with deals.

What is the fundamental elements in negotiation process?

Negotiation can be consist of four steps or path: -

• Preparation
• Information exchange
• Explicit bargaining
• Commitment

Soft Skills will explain in details on the negotiation process in upcoming topic.