Five Key Strategies to Effectively Managing Debt

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February 28, 2017 | By RGR Marketing Blog

How to Assist Your Clients in Managing Their Debt

If you’re in the debt settlement business, then you’re probably all too familiar with clients who may be struggling with debt – in many cases, they may find themselves in a situation where they’re desperate for solutions. You are there to provide those solutions to them, and to educate them in the process so they don’t end up right where they started.

With that in mind, here are five key strategies to effectively managing debt that your clients can start using today.

Know the Facts About Settling Debt

It’s amazing how often people who are deeply in debt don’t know exactly how much they owe or how they got there. They often feel like they are “drowning” in debt, and the amount is too great to even fathom, so they don’t want to put themselves through the trauma of looking at it.

But those who are in debt have to understand that the first step to conquering your debt is facing it head-on – and that means knowing exactly how much you owe, and how much your debt is building up each month that it’s being neglected.

Get on a Budget to Conquer Debt

One of the ways that people get into debt in the first place is through failure to live within their means. If these people do not get on a budget, they’re going to end up right back in the same place, even after resolving their debt. An important first step in the process of getting back is getting on a realistic budget, and learning not only what that means, but how to stick with it.

Stop the Bleeding

Now that you’re on a budget, you’ve got to make sure your debt doesn’t get any worse by immediately stopping spending on anything that doesn’t fit within that budget. Your next step will be to attack the debt that has the largest interest rate attached, to slow the snowballing of debt as much as possible.

Managing existing debt is a critical part of getting free of debt entirely – this is something you likely preach to your clients all the time. If debt continues to grow as your client is trying to resolve it, things will quickly start to seem hopeless. That’s why it’s so important to stop the bleeding as soon as possible.

Negotiate Your Current Debt

Here’s where you as the debt solution come in. Once the table is set for a debt-free future, it’s time to knock off that existing debt, and the first step in that process is getting your client’s debt down as far as possible. Your clients need to know that you have the experience to negotiate the best deals for them, that you won’t be intimidated or scared by any tactics that creditors may try, and that you will emerge with a much lower debt figure than your clients likely could have negotiated for themselves.

Consolidate Any Outstanding Debts

The final step is to get all those debts under one umbrella, ideally with a lower monthly payment than some of those high rates that your clients may have been paying up until now. It’s important to impress upon your clients how much easier it is to deal with one payment a month for all their debts, rather than trying to contend with multiple payments.

It’s also important to make clear how much less they will be paying in the long hall to knock off all of their debt once some of those high interest debt payments are taken care of.

Leading Others to a Debt-Free Life

Once your clients have gone through all these steps and integrated new systems into their budgets, they are ready to lead a debt-free life. You can move on to your next client with the confidence that you have done everything you can to help your existing client get out from under the oppression of debt.

Of course, some of these clients may slip on one of these steps and end up back in debt again, but hopefully, they will have learned enough to come to you before things get as bad as they got the first time. And naturally, you will always be there to help them out of whatever debt jam they have gotten themselves into.

If you’re ready to pursue more clients but are having trouble generating leads, don’t worry – RGR Marketing is here to help. We now offer the highest quality debt settlement leads for sale anywhere, and we’re ready to become your partners in success.

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How to Assist Your Clients in Managing Their Debt

Know the Facts About Settling Debt

Get on a Budget to Conquer Debt

Stop the Bleeding

Negotiate Your Current Debt

Consolidate Any Outstanding Debts

Leading Others to a Debt-Free Life

Start making more
money today!

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How to Assist Your Clients in Managing Their Debt

Know the Facts About Settling Debt

Get on a Budget to Conquer Debt

Stop the Bleeding

Negotiate Your Current Debt

Consolidate Any Outstanding Debts

Leading Others to a Debt-Free Life

Start making more money today!

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