If you always pay the asking price for everything you buy, you’ll be amazed at how often you can negotiate some of those prices down to a more acceptable level. And even when you don’t succeed, you’ve lost nothing by trying.

 

There’s an art to successful negotiating, though, so keep these tips in mind before you get started:

 

Don’t Be Afraid to Ask

 

Have you ever seen a store sign that says, “We’ll be happy to negotiate a lower price with you”? Of course not. Stores will be happy to have you to pay full price, so they’re not about to advertise any willingness to bargain. That means you have to ask. Ask the salesperson about reducing the price on a specific item you’re interested in. If he or she doesn’t have that authority, ask to speak to the manager. Be persistent, but …

 

Be Polite and Diplomatic

 

The surest way to doom your chances of success is to make arrogant, my-way-or-the-highway demands. Merchants being human, they’ll resent your attitude – and there goes any chance of getting a deal. Instead, bring a polite, diplomatic manner to the counter. The folks behind that counter will be far more likely to consider your offer.

 

Don’t Start by Low-balling

 

Perhaps you’re not sure of the true value of an item but still would like to bargain. Fair enough, but try to avoid the trap of low-balling; making an offer that’s ridiculously low. Instead, do some online research, check newspaper ads, or call some other stores that carry the items. That way, you can be sure your initial offer is at least realistic.

 

Compare vs. the Competition

 

Is the store’s competition advertising a better price? Bring along the proof – a newspaper ad or a printout from an online offer – and ask the salesperson or manager if they’re willing to meet or beat that price. This approach often works because the merchant gets a chance to kill two birds with one stone: He gets your business – and the competitor doesn’t.

 

Make the Transaction Easy

 

Once the merchant has agreed to a deal, show your appreciation by doing whatever you can to streamline the process. Pay in cash so that the merchant can avoid having to pay check or credit card processing fees. If you’ve purchased a large item, pick it up without delay; bring friends to help if necessary. The merchant will remember you favorably – and might be even more willing to negotiate next time.

 

You want to buy; the store wants to sell. Particularly in these difficult economic times, negotiating for a better deal is hardly a sin. On the contrary, it’s just smart shopping – so go for it!

 

More than 40% of a bank’s revenue comes from fees. Taking advantage of the services a bank offers while avoiding the fees is a win-win for the consumer.

 

Opening an Account

 

The checking account is still the most basic bank service available. There are free accounts with no minimum balance, NOW accounts that pay interest by maintaining a minimum balance and money-market accounts that offer higher interest, but require a larger balance and limit the number of checks you can write. Ask for detailed information about each, including all monthly fees and penalties before deciding which is best.

 

Once you’ve opened your account, avoid overdrafts. The fee for non-sufficient fund (NSF) checks has risen to an average of $30 and usually the largest check is honored first, leaving less money to cover smaller checks. As a result, you could end up paying an NSF fee for every smaller check you’ve written, as well as the fee charged by each business that was shorted! Also, be aware that certain deposits, such as deposits made at a remote ATM, may take up to 10 business days to become available.

 

Many institutions offer a Bounced-check Protection Service, which covers you up to a certain amount. But until you pay what is owed, you’ll end up paying the bank’s NSF fee PLUS daily fees until you’ve made amends. Another option is Standard Overdraft Protection where the bank will draw on your savings account, credit card, or line of credit for a small fee to cover bad checks.

 

Debit or Credit

 

You’ll receive a debit card with your new account allowing you to access cash at ATMs or to make purchases. However, if you use your card at an ATM owned by another bank, you’ll pay a fee as high as $3, and your bank will also charge a fee. Being charged $6 to withdraw $20 doesn’t make sense. Avoid this trap.

Many institutions also charge a fee when you make a purchase with your debit card. When the cashier asks “Debit or credit?” choose the credit option and avoid the fee. Additionally, if you use your debit card at a gas station that does not require a PIN, your bank will regularly “block out” an amount greater than your actual purchase for up to 72 hours. Be aware of this practice to avoid overdrawing your account.

 

Savings

 

Banks offer basic, low-interest savings accounts and higher-interest money-market accounts. Money-market funds, available through mutual fund companies, generally pay a higher yield and don’t have an early-withdrawal provision. Certificates of deposit (CD) mature and pay interest in 30 days, although the longer the term, the higher the interest rate. A penalty is charged for early withdrawal, so make sure you won’t need the money. And again, shop around for the best deals.

 

Convenience

 

Today, you can have your paycheck direct deposited, use online banking to review your records, or choose automatic payment for bills that don’t vary from month to month such as a mortgage or car loan. In the end, it only makes sense to take advantage of your bank’s service offerings—especially if it simplifies your banking needs.

I found this excellent debt settlement guide this morning. Most of these are thinly veiled marketing articles, ghost written to look like an independent study, but I took a look at the links and site wrapped around this article and it looks like the real deal.

Overall, it gives some very solid advice about how to evaluate debt settlement companies and pick one that’s the best fit for you. It’s also a very honest appraisal of the pros and cons of debt settlement. Take a read:

The Ultimate Debt Relief Guide

Debt Damage Control – The Truth About Debt Reduction Programs

I am constantly hearing horror stories about how people looking for debt relief are being misled and given bad advice about their debt relief options. It is ridiculous that the people who need the most help get treated the worst. Some people would rather suffer in their debt than seek the help they need.  This is largely due to companies that are unethical and only interested in taking your money or that they have bought into false information about these programs.  We’re going to clear the air and debunk the myths about debt as well as arm you with the information you need become debt free…

Read more here: http://debtskinny.com/2009/06/05/ultimate-debt-relief-guide/comment-page-1/#comment-661

With no fees for transactions, no debt added to high-interest credit cards, “zero liability” fraud protection and new rewards programs, the debit card (a.k.a. the check card) is proving to be a grand slam for consumers.

 

Convenience and Security

 

According to the Federal Reserve, debit cards, which draw money directly from your checking account, have been used to make more purchases than credit cards since 2003.

 

The popularity is attributable to improved money management, convenience and security. With the high interest rates and late fees charged by the credit card companies, consumers see debit cards as a way to budget their money more effectively. For example, one doesn’t have to carry cash or have exact change any longer, and because all transactions are on your bank statement, it simplifies your record keeping.

 

Rewards Still Count

 

Though not as robust as credit card rewards, debit card reward programs are still good enough for those who use debit as an alternative to credit cards, cash or checks. With most debit cards, however, points are earned only on signature purchases and aren’t earned on all transactions, including ATM withdrawals, balance transfers or payments made to prepaid or reloadable cards.

 

The rewards and point systems vary from bank to bank. So as always, do your homework and compare one bank’s card to another – choosing the best solution to meet your personal needs.

 

Equal Protection

 

Another feature that has been added to debit cards is fraud and loss protection. Most debit cards now have the same fraud and loss protections as credit cards. The Fair Credit Billing Act and the Electronic Funds Transfer Act (both acts can be found under DMB’s Helpful Links page on the web) provide procedures for consumers to follow if a credit or debit card is lost or stolen.

 

The Electronic Funds act, which covers debit cards, states that your liability is dependent upon how quickly you report the loss or theft. For example, if you report the theft within two business days, you are liable for only $50 in unauthorized use. If you don’t report the loss in two business days, according to the Federal Trade Commission, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing the unauthorized use is mailed to you. Moreover, take note that it may take time to restore the funds in question into your account.

 

The Future of Debt Cards

 

While debit cards offer much in the way of convenience and protection against fraud and loss, they don’t appeal to everyone. Consumers who always pay their credit card balances in full will find that a rebate credit card is far more attractive than a debit card due to the higher rewards and additional float time on their money.

 

Nevertheless, it is anticipated that the use of debit cards will continue to proliferate as consumers find them effective in managing their money while avoiding the pitfalls that credit cards present.

April 29, 2009 (FPRC) — Beverly, Massachusetts: DMB Financial has been selected by Goldline Research as one of the Leading Credit & Debt Professionals of the Eastern United States for 2009. The list of the Leading Credit & Debt Professionals of the Eastern United States is scheduled to be published in the April 27th issue of Forbes Magazine. DMB Financial received this prestigious designation after intense review by Goldline Research and is a validation of its strong customer service, its proven history of delivering value to the consumer, and its strong leadership role in the industry.

DMB Financial was selected from among 3,300 firms on the East Coast. ‘Those selected provide extensive client service that exceeds the industry standard,’ Dana Mahoney, Analyst, Goldline Research. ‘We believe that they are setting the benchmarks for the industry as a whole.’

‘We’re honored to be named a leading debt settlement company,’ notes Booway Balhaajav, the CEO of DMB Financial. ‘As one of very few ‘success fee’ based companies in this industry, we’ve tied our success directly to the client’s—really setting us apart from the rest. It’s great to be recognized for that commitment.’ DMB Financial is actively involved as a board member of The Association of Settlement Companies (TASC), the leading industry association, in pressing for higher standards for regulation, licensing, and ethical business practices across all 50 states. According to Balhaajav, ‘There’s a real need for debt settlement today, especially as credit card companies raise interest rates and lower credit limits. There aren’t too many companies out there who truly care about delivering tangible savings to the client.’

About DMB Financial

DMB Financial negotiates debt with credit card companies for significant savings to the consumer. They’ve saved 11,000 clients over $87 million in credit card debt and counting. DMB Financial is the industry champion of a ‘success fee’ based business model, where the company only gains when and if it delivers real savings to the consumer.

About Goldline Research

Goldline Research is a third-party, independent research firm specializing in evaluating professional services providers. Goldline Research undertakes an extensive, in-depth research process to review all qualified candidates in a respective area. Its proprietary research process includes individual provider interviews and quantitative analysis of key data, as well as customer reference checks to confirm high levels of customer service. Those providers that earn Goldline Research’s designation demonstrate a commitment to service unparalleled in their industry.

For more information contact Jeff Takle of DMB Financial LLC (http://www.dmbfinancial.com)
866-810-3210

Keywords: debt settlement, debt consolidation, bankruptcy alternative

You can read this press release online at: http://www.free-press-release-center.info/pr00000000000000040353.html

• Or download the whole report here: File Attachment: Success Fee Based DMB Financial Named a Leading Credit and Debt Professional.pdf (9 KB)

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DMB Financial, LLC discovered last week that letters have been mailed out to consumers across the country from DMB Financial Management regarding the consumers’ winnings in the “NBC International Sweepstake”.  These letters are not from DMB Financial, and are in fact fraudulent and a scam.

 

Here is how the scam works.  Included with the letter is a check for $3,115.00 in the name of the consumer.  The letter directs the consumer to contact a telephone number so that the company can educate the consumer on how to claim their winnings.  When the consumer contacts the company, a representative from the company asks the consumer to deposit the check into the consumer’s bank account to cover the processing fees.  The representative then asks the consumer to send the company $3,115.00 either through a wire or Western Union for the processing fees.  The check then bounces leaving the consumer out the $3,115.00.

 

If you have received a letter from “DMB Financial Management, LLC” with our address on it (“152 Conant Street, Beverly, MA 01915”), do not call the company or deposit the check and please contact us immediately with the details.  DMB has contacted the local and federal authorities to help us stop this scam immediately.

 

If you have any questions or suspect you have been a victim of this fraud, please contact Matthew Guthrie by e-mail (mguthrie@dmbfinance.com), or by phone at 866-810-3210.

 

We apologize for any inconvenience and appreciate everyone’s help in stopping this scam.

• Sample of Fraudulent Mail Piece: Click here

 

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