Negotiation is something a lot of people don’t enjoy. In most cases, people will gladly pay a premium to avoid negotiating and haggling over anything. But when you’re faced with costly (or downright annoying) legal issues, sometimes bargaining is best.
Here are our top four common instances of legal issues that you can absolutely (and should absolutely) negotiate.
1. Credit card payments and terms
Credit-cards companies make a killing from the millions of people who don’t ask for better rates and terms. Calling the company and explaining that you’re going to have problems paying the next payment is the best way to get their attention. If your credit score isn’t a concern for you, you could even intentionally miss a payment, and that would certainly start the loss mitigation processes in most financial institutions.
2. Medical bills
Medical bills are outrageous in many countries, and in America, they’re the leading cause of bankruptcy. Before you hit that stage, negotiate your bills immediately, the day you receive them. The margins for this are typically built in to most overly inflated medical billings.
3. Student loans
In order to afford another ridiculously expensive necessity in America, higher education, students have racked up an astounding $1 trillion in student loan debt. If you’re one of those people (and if you earned a degree recently, you likely are), then call your student loan companies and plead for better rates, deferments, and forbearance. If there are any other ways to reduce your payments, they’ll let you know at that time.
Given that the default rate on student loans has been skyrocketing, the student loan companies are ready and willing to give you better terms, in many instances. Again, the fastest way to get that process started might be to miss a single payment, then call to express your willingness to make reduced or deferred payments.
4. Traffic tickets
Traffic tickets are commonly negotiated, especially when you have a good attorney who deals with auto-related cases. It’s not uncommon to get tickets completely dismissed, under a variety of circumstances, if you’re privy to the information that advanced negotiators have.
And there’s even more reason to negotiate the typical tickets that are issued by law enforcement: it might help you win other cases that you have later, regarding auto injuries and other legally challenging events. Always play it safe with traffic tickets and negotiate them when possible.