The Art Of Negotiation

Collectors use intimidation to win. They will cite legal ek-ek,
pretend to be somebody they are not,even tell you "Ang Utang
Ay Dapat Bayaran"(same stuff often justified by those pseudo
moralist in our midst) - no matter if you die or where you get
the money to pay them.
The goal is to overpower and instill fear to debtors.
This seems to work most of the time until you somehow reaches
this blog, and viewpoints change.

The collector calls.
You negotiate to pay P 500.00 per month ( weak position )
The collector says NO. "We will sue you" ( strong position)

A better way to negotiate is to:

FIND OUT WHAT THE COLLECTOR NEEDS
TRY TO MEET THAT NEED
BUT WITHOUT LOSING YOURS.

The collector calls.
You negotiate to pay in full but with 50% discount of the P100,000.00
NEXT MONTH ( strong position )
The collector says yes due to commission.( weak position)

He calls after one month.
You inform him you only got P40,000.00. Can he wait until
you can come up with P 50,000.00? ( strong position )
Collector agrees to accept the P40,000.00 payment anyway
( Take it or leave it. he needs his commission NOW)

Moral of the Story:

Negotiate from your strong points;
never on your weaknesses.


p.s.
your account may no longer be existing with the bank.

Bankard '08 income soars to P276.1M
..mainly due to one-time boosts from the sale of its shares
in Visa, Inc. Also, its collection from fully provisioned and previously
written off credit card receivables rose by 13.2% to P98.6 million from P87.1 million

http://www.bworldonline.com/BW041609/breakingnews.php#832