• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
ZipDebt Debt Relief

ZipDebt Debt Relief

Fast Affordable Debt Relief

  • ZipDebt Website
  • Full Service Program
    • Tailored Debt Settlement
  • Debt Relief Tools
    • Free Credit Card Relief Guide
    • Creditor & Debt Purchaser Info Series
      • Midland Funding LLC
      • SoFi Technologies, Inc.
      • LVNV Funding LLC
  • Chapter 13 Bankruptcy Dismissal Info
    • Chapter 13 Bankruptcy Dismissed! — Now What?
    • Debt Collection & Debt Settlement After Chapter 13 Bankruptcy Dismissal
    • Debt Settlement After Dismissal of Chapter 13 — A Case History
    • Help After Chapter 13 Bankruptcy Dismissed for Nonpayment
  • About Us
    • About ZipDebt
    • Program Disclaimers
    • Privacy Policy
  • ZipDebt Blog

negotiation

DIY Debt Settlement Myth #2: I Don’t Have Time to Handle the Project Myself

May 30, 2012 by Charles Phelan Leave a Comment

This is the second in a series of posts discussing the most common myths about do-it-yourself debt settlement. One of the most frequent objections I’ve heard to the idea of handling your own negotiations is that the client is “too busy to handle all the phone calls” involved in obtaining settlements. “I really don’t have time to do this myself,” is a refrain that I’ve heard over and over again. Of course, the companies out there trying to sell people on using their traditional settlement program play up this concern and make it sound like an impossibly complicated project that demands an almost full-time effort. Nothing could be further from the truth!

There are at least three reasons why “I don’t have time” is not a valid objection to ZipDebt’s DIY-with-Coach method.

1. Whether or not you hire a debt company, you’re going to get collection calls, period. There is really nothing that a debt settlement company can do to get your phone to stop ringing, unless they send out a cease communication notice to your creditors. Yet the cease communication letter (or cease & desist notice) is a tactic that I stopped using more than 10 years ago. Why? Because it gets people sued sooner rather than later. If your debt company send out cease communication letters as a routine business practice, they are employing a method that has long since been obsolete and has become very dangerous. So unless you want to greatly increase your risk of litigation, you’re going to have to put up with some collection calls no matter what.

2. If you properly implement a call screening system the way I teach it in my training course, you’ll greatly reduce the number of calls you actually need to be involved with. The time commitment is very manageable if you have a system in place for dealing with the collection barrage. With my system, you make 1-2 callbacks per month per creditor while the accounts are aging to the point where settlements become feasible, and then a few extra calls at the end to finalize the agreement, obtain a proper settlement letter, and make payment. The time commitment involved is nowhere near as burdensome as most people think, provided you learn the right techniques for managing and controlling the process.

3. Calculate how much money you’ll save per hour of negotiation phone time, and you’ll realize it’s the best paycheck you’ll ever see in your entire life! Here’s an example: Let’s say you settle a $10,000 credit card debt for 30%, or $3,000. It requires a total of 15 phone calls spread over 6 months, with average duration of 20 minutes per call. That’s 300 minutes, or 5 hours total, to save $7,000. Where else are you going to make $1,400 per hour? 🙂

Myth busted. You can’t dodge the calls without making things worse, collection activity can be managed with a good call screening system, and ZipDebt’s DIY-with-Coach approach can yield savings of $500-$1,000 or more per HOUR of negotiation time.

Filed Under: Debt & Credit Tagged With: debt settlement, DIY debt settlement, DIY-with-Coach, do-it-yourself, negotiation, third-party settlement companies, zipdebt

Primary Sidebar

Search ZipDebt

ZipDebt Resources

Free Consumer Debt Relief eBook

Latest Blog Posts

  • Debt Settlement in 2025 and Beyond!
  • ZipDebt Debt Relief — MAJOR ANNOUNCEMENT FOR 2020 and COVID-19: Full Service TAILORED DEBT SETTLEMENT Available for Select Clients, Do-It-Yourself Coaching & Services No Longer Offered
  • Making the Tough Financial Decision, Part 3 — Paying Off $63,000 Credit Card Debt & Lessons Learned

Past Blog Posts

Footer

ZipDebt = Fast Relief

Debt settlement is just as much about managing risk as negotiating savings. The 36-48 month programs offered by most debt companies have high risk for collection lawsuits. It’s far more effective to “fast track” debt settlement in 12-18 months.

ZipDebt = Affordable Help

Instead of paying fees as high as 20-30% of your TOTAL DEBT, it’s far more affordable to work with a professional consultant who only charges 20% of the SAVINGS achieved via the negotiations. This approach saves you money and creates a win-win scenario.

Contact Us

Copyright © 2025 · Manchester Publishing Company, Inc. All Rights Reserved

ZipDebt.com (Manchester Publishing Company, Inc.) is registered (#2686785) as a debt settlement provider with the California DFPI under the CCFPL.