Debt Negotiation - Why Credit Card Debt is Negotiable in This Market

Have you ever faced a situation where you have opted for debt negotiation? Many people do not know what debt negotiation can do for the defaulters.

We all know that the economy is facing a tough time because of the recession. During this period, majority of the people face problems with increased or unsecured liabilities. The price of the commodities has also gone up and there is a drastic change in the money spending habits of the people. The recession period is like a barrier to the flow of capital in and out of the economy. The people are drowned in huge liabilities and it seems quite impossible to pay off or clear the liabilities.

Negotiation

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Debt negotiation is nothing but a way of bargaining with the financial companies to reduce the burden of unpaid balances. The market situation has been greatly affected by the downfall of the economy and the banks or the financial organisations are well aware of the shortage of money that they are facing. The banks and the financial firms are also facing problems because the circulation of finance has been stopped. This is because the people are concentrating on saving money or wants to eliminate their liabilities through debt negotiation. There are many firms who accept the request of the people when they approach for the settlement of liabilities.

Debt Negotiation - Why Credit Card Debt is Negotiable in This Market

Many people ask, what is the benefit of debt negotiation? The answer to this question is that, it is a solution to overcome the financial breakdown and get help from the relief firms. When a person gets a good firm and asks for financial help, there are certain processes to be fulfilled. The applicant has to provide few details and proof to show that he is financially unstable and he will not be able to pay back the total amount to the creditor. The financial firms will bargain with the card issuing company on behalf of the applicant to reduce the liabilities.

Firstly, the applicant should complete the process of documentation and paperwork before approaching the company. Secondly, the applicant should ask for the consolidation of liabilities. This is helpful because all the liabilities will be merged and then the relief firm will calculate how much has to be deducted. The market conditions have become poor because of the shortage or no circulation of finance. Therefore, the liabilities can be bargained while claiming for settlement.

Debt Negotiation - Why Credit Card Debt is Negotiable in This Market

If you have over k in unsecured debt it would be wise to consider debt settlement. Creditors of unsecured debt are very concerned about collecting on their delinquent accounts and you can take advantage of this. Consumers and small business have never had a better opportunity to eliminate debt through a settlement process. To locate legitimate debt settlement companies in your state check out the following link: Free Debt Help [http://www.freedebtreductionhelp.com]

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The Key To Unlocking A Successful Negotiation - Best Practice Preparation

PREPARATION: FUNDAMENTAL TO NEGOTIATIONS?

Most negotiators greatly underestimate the amount of time required to effectively prepare for and research the background to any business negotiation. The old cliché says 'failing to prepare means preparing to fail'. We should spend at least twice as much time preparing for business negotiations as we expect to be engaging in actual negotiations. E.g. if we estimate that we are going to spend 1 hour negotiating with our counterparty, we should then consider spending approximately 2 hours preparing for the engagement. The better our preparation, the greater the chances of achieving superior outcomes in our business negotiations.

Negotiation

Negotiation preparation is the most important part of business negotiation best practice and is specifically critical for complex, multi issue, multi party negotiations. Let's then analyse what is important to be considered in support of our efforts and decision making processes in business negotiations.

The Key To Unlocking A Successful Negotiation - Best Practice Preparation

1. Understanding the context.

The context of negotiation can be understood by an analysis of the environment in which businesses operate. Some of the key elements to consider in understanding the context of a business negotiation include:

What is the nature of the sale/purchase you are making in terms of risks involved, the level of expenditure and the complexity of the deal? Competitive analysis - what is the nature of the market and what alternatives do our counterparties have available. E.g. in a purchasing role it is critical to understand the supply market in order to prepare our negotiation strategy effectively. We will approach negotiations with a sole supplier differently than with a potential vendor in a fully competitive market. Identifying market characteristics for specific services and goods will allow us to understand how the market works, its competitiveness and key suppliers. Is it a one-off deal or should we consider maintaining a long-term positive relationship that creates opportunities for future business. For example, in a situation where we sell a car or a house we are normally only interested in the best price and not really interested in an ongoing relationship. A ompetitive approach with no consideration for the relationship will most likely assist us to achieve our goals and objectives if no ongoing relationship is concerned. On the contrary, most business negotiations are more complex and although price is usually an important factor, there are many other criteria that have to be satisfied on both sides as a foundation for mutually rewarding deals and relationships. Have we had any dealings with the other side in the past and what is their most likely approach to doing business? What does the power balance look like? (Legitimate power, Reward power, Coercive power, Expert power, Referent power) How skilled are the negotiators on both sides of the table? What cultures will be represented at this negotiation? (Ethnic, Corporate & Professional Cultures should be considered). Do you need to do any homework regarding the local customs? Who are all the parties & individuals involved in the negotiation and the decision making process? When selling it is critical to identify not only final decision makers, but also final users of our product or service in order to develop internal groups of support within our counterparty's organisation. A diversified approach is required as different buying roles look for different benefits and advantages when purchasing a product or service. Final decision makers (read people who release the money e.g. CEO, FD etc.) will most likely be interested in Return on Investment and increased revenues & margins as the ultimate result of purchasing your product, service or solution. The final user who looks for improved productivity and efficiency will find the financial elements almost completely irrelevant.

2. Understanding the deal objectives.

In any negotiation it is critical to understand the tangibles that all parties are trying to gain or achieve. If we fail to prepare and prioritize our deal objectives we put ourselves at risk of being exploited and/or ending with a sub-optimal agreement. Whether you are engaged in negotiation on the sales or purchasing side consider the following elements when preparing for negotiation

- Price and payment
- Key Obligations
- Delivery
- Warranties
- Intellectual property
- Risks etc.

Price and Payments: the notion that price is the only issue in negotiation is not entirely logical. The competition and the complexity of most business deals requires finding ways to create additional value and to move negotiation from positional bargaining to synergistic and creative joint problem solving. Professional buyers are not charged with buying the cheapest solution available but rather with providing their organisations with the cheapest total cost of ownership. It means that besides our company, product and salespeople attributes we can differentiate ourselves from our competition buy using the TCO - Total Cost of Ownership approach that is composed of amongst others:

Acquisition costs: includes price, freight, legal fees, warehousing costs, initial training costs etc. Maintenance costs - repair labour, loss of productivity or revenue during maintenance - The cost of use - fuel or energy costs, safety costs, performance monitoring costs. Support costs - insurance, taxes, management fees etc. Supplier performance metrics - financial stability, cost improvement ideas - Delivery costs can be imposed either on the buyer or the supplier and may include: custom taxes, fuel, loading goods etc. Quality - testing, defect management, cost of and losses associated with potential external failure. Customer Support - how many people involved, for what period of time etc. Bear in mind that happy customers will tell others of their positive experience.

It costs much more to attract a new customer than to keep an existing one.

If we are able to minimize the other side's costs involved in the whole life cycle of our product, solution or service and at the same time offer value for money we are in a better position to find common ground with our counterparties and ultimately increase our market share. Additionally it is necessary to clearly define the payment terms and conditions. If you buy make sure you know what is included in the price, when you have to pay, and what happens if you don't pay on time.

Key Obligations: what work the supplier will do and what the buyer will do in return. Make sure your product and services are clearly defined and reflect your priorities. Include all the relevant quantities and specifications. As a supplier make sure you can live with all the specifications stated by the buyer.

Delivery: when and where are the goods or services to be supplied? Is there any extra charge for delivery? How important are the delivery timelines and what happens if the delivery doesn't take place on time.

Warranties: a promise that the products or services will meet a required standard. As a supplier don't expect signing a deal with no warranties at all and make sure you know the limits on what you are offering. In order to maintain trust and credibility make sure that you can live with any promises you are making.

Intellectual property: difficulties in negotiating IP ownership can lead to delays in implementing an agreement.

Carefully negotiate IP ownership rights and consider the following factors:

What party is paying for the R&D? Could the development be used by the competitors to your loss if you don't own the IP? - How can you prevent competitors to use the same IP?

Intellectual Property can become a key differentiator in a highly competitive market place.

Risks: the best way to manage risks in negotiation is to include the elements that carry any risk in a written contract. Cultural consideration is critical. In Asian countries like China the goal of negotiation is not a signed contract. In China - unexpected circumstances, whenever they arise, are resolved through the relationship and therefore all the risk involved needs to be managed through the relationship as well. Explore the risk aversion of the other side as the value in negotiation can be created by shifting risk to the party that is more able to bear it, in exchange for greater potential returns.

Analysing the above elements are crucial in planning Concession Strategies that will assist you to leverage maximum value from trades and in planning meetings optimally. Always map out all your negotiation goals as fully as you can and for each Goal, capture your own and your counterparty's view of the Goal with the best information you have.

The Key To Unlocking A Successful Negotiation - Best Practice Preparation

Michael Zieba is the Founder of The Strategic Negotiation Institute
http://www.strategicneg.com

Gain unparalleled negotiation skills at The Strategic Negotiation Institute.

Our core competency is to help organisations save money, increase profits and maximise the value of their negotiations. Specialists in sales, procurement and executive negotiations, we design and deliver customised business negotiation solutions that go far beyond conventional negotiation wisdom and unlock unconventional value.

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Letter of Credit - Negotiation

Negotiation means the standard procedures that bank performs which includes checking of the documents and giving value to the seller. The issuing bank may issue the LC available by negotiation with a nominated bank or it may allow the LC to be freely negotiated with any bank. In the first case, the beneficiary, that is the seller, has to present the documents only to that bank, which is the nominated bank. Nevertheless, the nominated bank is not bound to negotiate if it has not undertaken a separate payment obligation to the seller.

The nominated bank may simply refuse to negotiate the documents drawn under the LC. This is because, by having been nominated by the issuing bank, it does not constitute and undertaking to negotiate. If, however, the nominated bank has added its confirmation to the LC at the request of the issuing bank, thereby undertaking a separate payment obligation to the seller, then it has to honour its undertaking and pay for the documents drawn under the LC if they are in order.

Negotiation

LC which does not nominate any bank is normally available for negotiation with any bank in the country of the seller which is willing to negotiate the documents. There are 4 types of negotiation practiced by banks around the world. They are:

Letter of Credit - Negotiation

1. Negotiation without recourse
2. Negotiation with recourse
3. Negotiation against indemnity
4. Negotiation under reserve

A seller may present his documents drawn under LC directly to either:

a) The issuing Bank (bank that issues the LC) or
b) The confirming bank (bank that adds its confirmation at the request of the issuing bank) or
c) To his own bank.

If the seller chooses to present the documents directly either to the ISSUING BANK or to the CONFIRMING BANK, these banks make payment WITHOUT RECOURSE to him. Meaning, the payment that has been paid to the seller shall not in any way become claimable by these banks in the event the documents are found not in order after making such payment.

These banks cannot have recourse to the seller because by issuing or confirming the LC, they have taken upon themselves the risk that the party from whom reimbursement is to be obtained may become insolvent.

Letter of Credit - Negotiation

Wan Nawawi Hassan is a former lecturer/facilitator with a number of commercial banks in Malaysia. You can visit his blog at http://infodagang2u.blogspot.com

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What Exactly is President Obama's Credit Card Debt Relief Program? Get Your Debts Erased Now

This article has been written to inform you of President Obama's credit card debt relief plan. There has been a lot of misconception about this plan and we hope to dissolve and clear up any questions that those in extreme debt have. In the beginnings of 2009, when our President was elected. Obama put forth what has been called "President Obama's credit card debt relief plan". Now, this plan is not a safe haven for all debtors, but it does give debtors the ability to erase 50-60% of their credit debt and even more. Sometimes this can be up to 70% the Obama credit card debt relief program.

Why is this possible? The answer is two fold: First, billions of dollars of funding has been put into the American Economy to help with our situation. Our President promised a major change to the US and this bill was one of the first things he did to help those who are trapped in debt. Secondly, with President Obama's credit card debt relief program, many creditors have been so called "bailed out" because of stimulus money.

Negotiation

What does this mean and how does President Obama's credit card debt program benefit you as a consumer?

What Exactly is President Obama's Credit Card Debt Relief Program? Get Your Debts Erased Now

1. If you have over ,000 in unsecured debt, it can be erased by up to 60% and sometimes more.
2. You credit score will not be negatively affected by having to file bankruptcy
3. It gives you a chance to breath financially as you are able to work with companies that work within President Obama's credit card debt relief program.

Now, saying all of this, many times companies will help you once, so this means that after you debts are erased, it is important to get into a system where you only charge in emergency situations. Also, almost every company will talk with you for free to see exactly how much you can get erased.

What Exactly is President Obama's Credit Card Debt Relief Program? Get Your Debts Erased Now

Did you know you can legally erase your debts? It is now perfectly legal to Erase Credit Debt according to the new stimulus package if you have over ,000 in debt. They give out free information to help you erase your credit card debt once according to the new stimulus package.

Click Here. It takes less than 10 seconds.

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Negotiation - Understanding Your Sources Of Power

One of the main differences between negotiators is how confident they feel when
negotiating. Typically, the more confident we feel, and the better we are prepared,
the more successful will be the outcome of our negotiations.

Personal power comes from many sources. To build up and increase our confidence
as negotiators we need to step back and analyse the sources of our personal power
and compare them with those of the people with whom we are negotiating.

Negotiation

Power is not absolute. In most negotiating relationships the power balance moves
with time as the negotiation progresses.

Negotiation - Understanding Your Sources Of Power

Here are just a few examples of sources of power:

Information Power:

Information power comes from having knowledge that will influence the outcome of
the negotiation. Planning and research can increase our information power, as can
asking the right questions before we reach the bargaining phase of the negotiation.

Reward Power:

Reward power comes from having the ability to reward the other party in the
negotiation. It could be the power a buyer has to place an order for goods and
services or the power a salesperson has to give good service and solve problems

Coercive Power:

Coercive power is the power to punish. This is seen most commonly in the buyer-
seller relationship, but can be a feature of other types of negotiation.

Situation Power:

Situation power is the power that comes from being in the right place at the right
time. A customer is desperate to place an order and you are the only source of
supply in the short term. Having an effective network and keeping in touch with
what is happening can increase your situation power.

Expertise Power:

Expertise power comes from having a particular skill which you can apply and which
can influence the outcome of the negotiation. Improving negotiation skills helps you
win better deals. Other areas of expertise could also help the outcome of the
negotiation.

And Finally - Referent Power:

Referent power comes from being consistent over time. If people see you as having a clear, consistent strategy as a negotiator, you will increase your referent power.
Having standards that you stick to and being consistent will help to increase your
referent power. In the eighties, Margaret Thatcher wasn't universally popular, but
was respected by many for being consistent in her views and behaviour. In the end
she failed because her approach was too rigid and she was unable to adapt to
changing circumstances.

Copyright © 2007 Jonathan Farrington. All rights reserved

Negotiation - Understanding Your Sources Of Power

Jonathan Farrington is the Managing Partner of The jfa Group. To find out more about the author, subscribe to his newsletter for dedicated business professionals or to read his weekly blog, visit: http://www.jonathanfarrington.com

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Apartment Lease Negotiation Tips for Lower Rent and Cheaper Renewals!

Imagine this typical scenario:

You return to your apartment after a long day and find in your mailbox or under your door an official letter from your landlord. It says that your current lease will be ending in a few months and that you have two alternatives: (1) receive a "one time special" if you quickly renew your lease for another year, or (2) pay a higher rate if you instead go month-to-month. To your dismay, the new rent amount for both alternatives is significantly higher than what you are currently paying to this landlord. What will you do?

Negotiation

Step 1 is to stay calm. Your landlord's strategy is to play on natural fears of further rent increases as it gets closer to renewal time. They know this, and you should too. They are writing this way because landlords have learned that most people will rush to judgment and thus quickly agree to their initial terms and rent increases. However, understand that much of what's in this initial letter are just dream amounts and dream terms for your landlord. Especially, if there are currently any "for lease" signs or similar promotional materials on the grounds of your complex. So remember, stay calm. You can usually ignore this initial letter and wait to respond after receiving their follow-up note a few weeks later, which will often include better terms and conditions. In the meantime...

Apartment Lease Negotiation Tips for Lower Rent and Cheaper Renewals!

Step 2 is to understand. If you can think like your landlord, you will be able to write a simple, but effective, letter to your landlord that has proven to get results. What to include? Keep reading and you will learn how some creativity, a little research, and reasonable confidence can help you to reduce their asking amount even further. And, from this base you will understand how to ask for the lease duration that best meets your needs, and how (depending on market conditions) you can even have a new lease where you pay less rent than your current lease.

First, an example of what NOT to do: Many people mistakenly think that they should tell their landlord they are prepared to move, but that they would really like to stay so they can save on paying moving expenses. In this case, you are not negotiating from a power perspective. Your landlord knows that moving costs (e.g., truck, supplies, labor, etc.) represent money from your pocket, so they will almost always say, "no, do what you have to do, and move." They know from experience that most people want to avoid moving hassles so they figure in this example that tenants will eventually take any "found money" that would have been spent on moving expenses and instead "give it" to their landlord via compliance with their initial rent increase letter.

Alternatively, by using the techniques that follow, we are going to turn this above situation around and show you how to convince your landlord to willingly take money that they would have otherwise spent on re-rental activities and instead "give it" to you in the form of a direct rent reduction or indirect rent concession to the original terms. To better see why this works, understand that your apartment's leasing manager (the person who can approve rent discounts) most likely reports to someone at a larger corporation. And, that someone wants a signed lease -- no matter the term -- to limit their uncertainty and risk exposure, and to help with corporate planning. You must use this to your advantage. Thus...

Step 3 is to do your research. Check online websites for any rent specials. This includes mass-market sites such as Apartments.com and Rent.com, plus the website of your apartment complex and management firm. What specials are they offering to new renters? Print these out. Also, check the web for similar complexes that are near your current apartment and those that are known competition to your current landlord. Especially interesting are those places that are brand new and those that are charging comparable amounts to your older rental unit. You will use these numbers to determine a reasonable counteroffer for your proposed new lease.

Step 4 is to write. You will send to your leasing manager (i.e., landlord representative) a polite, but direct, one-page letter that initially:

(A) "Thanks them for their letter of ____ (fill-in date) regarding their desire to have you continue as a high quality resident of ____ (fill-in name of apartment complex) after your current lease concludes on ____ (fill-in date)."

(B) Asserts that "You are unable to sign a new twelve-month lease agreement with their firm and that the terms and conditions provided by their firm for month-to-month leasing are unacceptable."

(C) Mentions that "However, understanding your desire to maintain positive cash flow and occupancy of my unit via multi-month commitments in these economic times, I respectfully offer the following modified terms:"

It is here that your research can pay big dividends. You must now state that "I am willing to sign, immediately, a ____ (fill-in desired rental duration) months lease for my current unit with the following modified provisions: ____ (state how much you are willing to pay and specifically what discounts and/or other benefits such as free parking, storage, and competitor or management-advertised rebates for which you are asking as per your research)." If appropriate, attach a copy or short summary of any relevant pricing or specific promotional printout.

To strengthen your claim, state that "This arrangement is a 'win-win' and provides a solid basis by which both you, ____ (fill-in the name of your apartment's management company), and myself can mutually meet our individual, corporate, and personal needs." Next, if there are any special circumstances that help your case (see below), you would include them here. For example, "The above is consistent with comparable properties in the area and is asking for nothing more than what is currently being offered to your new ____ (fill-in name of apartment complex) tenants." Or, if you were a mid-year renter in a college town and wanted to stay shorter than an additional full lease term you would write, "The proposed arrangement enables you to put my unit back on cycle so that you can receive premium student rents next year since this proposal makes my unit available in August / September of next year rather than after the prime student rush."

Conclude this letter with a paragraph that further reinforces your position by communicating the following facts to your leasing manager / landlord representative:

"Immediately, this proposal enables you to have my unit generating income -- not vacant -- for an additional ____ (fill-in duration) months from today. Not only is this positive considering the current rental market, but you eliminate cleaning fees, searching/agency fees, and income loss; and are ensured by having a quality tenant who has consistently paid on time, is not a 'hell raiser' with neighbors, and who keeps the unit in as high a clean and quality condition that is possible as per normal living conditions." Your last sentence should always be a call to action. For example, "Please call me upon receipt of this letter so that we can setup a time to sign all forms that will complete this proposed renewal. I look forward to our mutual agreement. This is a 'win-win' for all involved!"

Step 5 is to enjoy. Congratulate yourself for a job well done. You've earned your discount and can now celebrate the fruits of your labor for the rest of your new lease. And, remember, you can do this all over again next year! You have shown loyalty by staying, and they will still make more money by giving you the discount rather than getting a new person because the unit will not be vacant for an unknown length of time. Nor, will they have exceptional cleaning fees or new painting expenses between tenants.

Finally, keep in mind that your lease benefits might be written in the form of a rent concession instead of as a rent reduction. What this means is that if you break your lease and leave early, you might be responsible for paying back to your landlord the difference between the negotiated concession and their original offer. If it's a straight reduction, this might not be an issue. Though, standard liquidated damages clauses in your lease might still be there and require you to pay a "break the lease" penalty. Either way, current market conditions, the quality of your tenancy, and how long you intend to stay will influence the amount that you will eventually pay for rent. Good luck, and happy living!

© Copyright 2007, James G. Kavalaris. Licensed under the Creative Commons Attribution License. Reprints must include all text and links; including those from the resource section, below.

Apartment Lease Negotiation Tips for Lower Rent and Cheaper Renewals!

--- ABOUT THE AUTHOR ---

Jim Kavalaris is the Senior Contributing Advisor to www.Grad-Schools.Info [http://grad-schools.info] and www.Discount-Broker.Info [http://discount-broker.info], a website dedicated to real estate answers. Whether you're a first time home buyer or trying to save your home and prevent foreclosure, spending 4 minutes on this site can empower you with the helpful information you've been looking for to better take the next steps towards solutions to your home mortgage and credit refinancing [http://www.discount-broker.info/site-map.cfm] challenges.

DISCLAIMER: This article is for educational purposes only and does not purport to constitute any legal, medical, or financial advice. It contains general information only and should not be exclusively relied upon for reaching any conclusions regarding any specific circumstances. The author is not your attorney, physician, or financial advisor.

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Mortgage Loss Mitigation Information Can Help Consumers Stop Foreclosure

When home buyers are having a hard time making payments the fear of foreclosure looms over their heads. Despite what is heard about them most mortgage companies or banks do not want to go through the expense of foreclosure. They also do not want to look like the bad guys for taking anybody's home away. An option that many consumers turn to is mortgage loss mitigation. With mitigation the lien holder reviews adjustments that can be made to the current loan.

With the use of an interest only mortgage loan calculator the interest may only be owed during a set period of time. When the period has passed then the remaining mortgage payments will be higher. This gives the consumer some time to work on financial issues. There is also the possibility of mortgage loan modification. This could include a change in interest rates to a lower, more affordable amount. Another option for mortgage loss mitigation is that the length of the loan may be changed as long as it does not exceed 30 years.

Negotiation

To get started with negotiating a mortgage a visit with the lien holder may be the best place to start. They can review mortgage loss mitigation options that may be very workable. There may be a completely new mortgage drawn up, an interest only payment scale as mentioned or a short sale where a loan will be reduced in order to allow the borrower to sell the home. The lien holder may also prefer to accept the deed and resell the home. The mortgage would be written as satisfied and there will not be any credit reporting. There are other options up to bankruptcy. Most people want to avoid going that route if possible. The goal is to protect credit and come out of a situation with as little stress as possible.

Mortgage Loss Mitigation Information Can Help Consumers Stop Foreclosure

Before giving up hope it is very important to remember that most lien holders do not want to take a home away from their clients. With mortgage loss mitigation it is possible to stop any negative consequences. In a stressed economy there are not many people who are buying homes. Mortgage lenders are the first to be aware of this. They will likely be willing to negotiate a solution rather than spend the time and expense on foreclosure. Be wary of any lenders who proclaim that they can do more than sounds possible. Chances are if the options sound too good to be true they are not safe. Sticking with whom one is familiar with is the best rule to follow.

Mortgage Loss Mitigation Information Can Help Consumers Stop Foreclosure

To learn more about mortgage loss mitigation [http://www.mortgagesloanmodification.com/mortgage-loss-mitigation.php] as well as mortgage loan modification [http://www.mortgagesloanmodification.com/], visit mortgagesloanmodification.com.

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Negotiation Success is in the Planning

The drama and theatrics one sees during conflict and confrontations easily leads one to believe that negotiation success lies in persuasiveness, eloquence, and clever maneuvering. What good court room drama would be without these critical factors for entertainment? While these elements may be the enjoyable part for some negotiators, and certainly are the entertaining portions for observers, they are not the keys to negotiation success.

This next quote was so important in "Essentials of Negotiation" by Lewicki, Saunders, Barry, and Minton that the authors italicized it. I point this out because I want you to pay attention to this closely, "The foundation for success in negotiation is not in the game playing or the dramatics. The dominant force for success in negotiation is in the planning that takes place prior to the dialogue." Yes, the tactics used during negotiations are important, and success is also influenced by how you react to the other side and implement your own negotiation strategy. However, the foundation for success is preparation.

Negotiation

There are many ways one can prepare for negotiation, and no one way will be perfect for everyone. By sharing different strategies, I hope you can absorb what is useful for your negotiation style and decide what planning steps are needed for the negotiations you partake in.

Negotiation Success is in the Planning

In the "Essentials of Negotiation" the authors set forth ten areas to focus on during effective planning for both distributive and integrative negotiations. I want to briefly share and comment on the ten areas for you to consider:

1. Defining the Issues. Analyze the overall situation and define the issues to be discussed. The more detailed, the better.

2. Assembling the Issues and Defining the Bargaining Mix. Assemble the issues that have been defined into a comprehensive list. The combination of lists from each side of the negotiation determines the bargaining mix. Large bargaining mixes allow for many possible components and arrangements for settlement. However, large bargaining mixes can also lengthen negotiations because of the many possible combinations to consider. Therefore, the issues must be prioritized.

3. Defining Your Interests. After you have defined the issues, you should define the underlying interests and needs. Remember, positions are what a negotiator wants. Interests are why you want them. Asking "why" questions will help define interests.

4. Knowing Your Limits and Alternatives. Limits are the point where you stop the negotiation rather than continue. Settlements beyond this point are not acceptable. You need to know your walkaway point. Alternatives are other deals you could achieve and still meet your needs. The better alternatives you have, the more power you have during negotiations.

5. Setting Targets and Openings. The target point is where you realistically expect to achieve a settlement. You can determine your target by asking what outcome you would be comfortable with, or at what point would you be satisfied. The opening bid or asking price usually represents the best deal you can hope to achieve. One must be cautious in inflating opening bids to the point where they become self-defeating because they are too unrealistic.

6. Assessing My Constituents. When negotiating in a professional context, there are most likely many constituents to the negotiation. Things to consider include the direct actors, the opposite actors, indirect actors, interested observers, and environmental factors.

7. Analyzing the Other Party. Meeting with the other side allows you to learn what issues are important to them. Things to consider include their current resources, interests, and needs. In addition, consider their objectives, alternatives, negotiation style, authority, and likely strategy and tactics.

8. What Strategy Do I want to Pursue? Most likely you are always determining your strategy, and have been all along the planning stages. However, remember not to confuse strategy with tactics. Determine if your engagement strategy will be Competition (Distributive Bargaining), Collaboration (Integrative Negotiation), or Accommodative Negotiation.

9. How Will I Present the Issues to the Other Party? You should present your case clearly and provide ample supporting facts and arguments. You will also want to refute the other party's arguments with your own counterarguments. There are many ways to do this, and during your preparation you should determine how best to present your issues.

10. What Protocol Needs to Be Followed in This Negotiation? The elements of protocol or process that should be considered include the agenda, the location of the negotiation, the time period of negotiation, other parties who may be involved in the negotiation, what might be done if the negotiation fails, and how will the parties keep track of what is agreed to? In most cases, it is best to discuss the procedural issues before the major substantive issues are raised.

There are many different planning templates. Each emphasizes different elements in different sequences. These ten areas represent what the authors of "Essentials of Negotiation" believe to be the most important steps in the planning process. There is more to each of these areas than I had space to describe in this column. However, if you consider each of these ten areas during your planning, you will be well prepared for the challenges you will face during negotiations.

Negotiation Success is in the Planning

Alain Burrese, J.D. is a mediator/attorney with Bennett Law Office P.C. and an author/speaker through his own company Burrese Enterprises Inc. He writes and speaks about a variety of topics focusing on the business areas of negotiation and success principles as well as self-defense and safety topics. He is the author of Hard-Won Wisdom From the School of Hard Knocks, several instructional dvds, and numerous articles. You can find out more about Alain Burrese at his websites http://www.burrese.com or http://www.bennettlawofficepc.com

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Managing Money Through Debt Negotiation

One of the best financial skills a person can possess is strong negotiation skills. Whether you are going to the used car lot, or talking with a future employer about what your salaried package will include, good negotiation has many rewards for those who master this skill.

If you find yourself struggling to handle your current debts, you might be interested to learn that debt negotiation is a key money management skill people are using to get out of debt and turn their financial situations around. Debt negotiation is an essential skill to have in rounding out a set of money management skills. While ideal money management practices would help you stay out of debt in the first place, it's never too late to start the right practices to get your debt under control.

Negotiation

Debt Negotiation

Managing Money Through Debt Negotiation

Many creditors and lenders are willing to work with their debt holders individually in order to get debt paid off, even if it means giving the debtor a break and not requiring the full sum. Good faith can take a debtor long way when it comes to dealing with debt collectors. Many debt collectors are not accustomed to getting paid in full. And, because they routinely deal with people who have poor money management skills, if a debtor shows good faith and comes up with a plan through reasonable debt negotiation skills, the creditor will often be willing to work with the debtor.

Debt negotiation happens on all debt playing fields. Whether the debt involves the IRS or a neighborhood community bank, most lenders and debt collectors are going to be happy to take something when they are used to getting nothing. Using good debt negotiation skills to determine how much you are going to pay as well as agreeing on a fixed timeline for repayment can take a debtor a long way. This money management skill is essential for a debtor to start practicing immediately.

How Can I Learn More?

There are many books, classes, and services willing to help debtors develop debt negotiation skills that they can use to get out of debt faster than they would have thought possible. Check the money management section of your library, or do a search online to find a reputable class near you!

Debt negotiation is an excellent money management skill to learn sooner rather than later. Not only will you find it helpful in handling your debt, but the skills you learn in this area of money management are transferable to other areas of life that require a little bargaining and deal-making!

Managing Money Through Debt Negotiation

The Lee Law Firm aims to provide local residents with high quality legal representation at affordable rates. Their attorneys specialize in all aspects of credit negotiations. As Dallas debt lawyers, the Lee Law Firm attorneys understand the pressures their clients face as they battle a financial hardship.

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Negotiation: The Win Win Strategy

Negotiation takes two parties to carve some outcomes based on mutual interests. This mutual interest can be some dealing or even can be some dispute. But as in this topic I will only consider dealings not disputes. A good negotiator is one who produces a WIN-Win situation between both parties. Gerard I. Nierenberg, author of The Art of Negotiation, argued that "everybody wins" is better than "winner takes all" approach. This WIN-WIN philosophy assures that all parties benefit from the negotiation process.

With the global business, distances are shrinking and we have created a global village. Merger, dealing, employing and procurements are taking more and more time of management. Lack of better negotiation can lead to failure. So, firms throughout the world are concentrating on negotiation skill of their employees.
In past it was considered that negotiation skill is a personality trait and the person having such skills can only do good business. They also believed that anyone can't achieve it as it is god gifted. But in my opinion negotiation is not a personality trait at all; anyone who has zeal for it can achieve it. This article will try to give out the best negotiation strategy, which once followed will generated WIN-WIN situation.

Negotiation

The process of negotiation

Negotiation: The Win Win Strategy

Different literatures talk about different steps of negotiation. I will try to put up the optimal from them. We can classify negotiations in three chronological steps - before, during and after.

1. Preparing for the negation -

a. Know your goals. Negotiation can be of vivid shades like, you want to approve your conditions, you want to take agreement of someone or you have to win a better price tag. All these must be clearly stated in your mind. Also draw out flexibility in your goals.

b. Set floor and ceiling. Any agreement has some points to ponder, and each point has a range. First chart out all the points in the negotiating agreements and also the floor and ceiling of each point. Like, if you are a human resource manager and you have to negotiate for an employee, the salary and benefits ranges should be set, before going in negotiations.

c. Know your authority limits. If you are negotiating on behalf of someone else like for your company, you also know what exactly what are your capabilities and what are your limitations. See, when you are negotiating for your company always remember that you are not the company, but you are only the employee of that company, so, don't take anything personal.

d. Fix a meeting. This is obvious point, but it is worth mentioning. Make sure that your meeting time, place and person to meet should be well decided. The time and place chosen must be comfortable to both the parties. Also make sure that you are communicating directly to concerned authorities not to mediators.

2.Negotiating Process

a. Generating the best deal for you. Always make sure that you got the most from the negotiation. Even if you have some compromise, the over all outcomes are in your favor. This should be the first policy of your whole negotiation.

b.Communicate directly to concerned stakeholder. Whatever your communication media be (face to face, telephonic, mail or online), always talk directly to the concerned authorities. If you are communicating to middle man (like secretaries or receptionists) you can never final a deal.

c. Let them speak first. This is helpful in some cases when the other party is making more favorable deal than what you have thought of. If you speak first they will change their tone. This is also applicable in your side.

d. Setting wins conditions of the other party. See what points are WIN conditions for the other party. Sometimes other party is more concerned about some less useful part of agreement; you can take advantage of it by popping up that portion as core issue and make them feel that they have won the agreement.

e. Be trust worthy. Do not try to dodge your opponents in negotiation, try to make them understand you and trust you. And when I said "make them" I never mean "fake them", so, you must be trustworthy and this is one quality that will help you most in getting the 'YES'.

3. The aftermath of negotiation

a. Nothing should be considered as a full and final in any agreement. Verify that the outcomes are exactly according to the agreement of negotiation, if they are not, we can go for a further step in the negotiations.

b. Analyze the negotiation. We can learn from old experiences, this also works in negotiation. Try to analyze whole process, "what worked what not", "what went wrong" these should be analyzed, so that we can improve our skills for future negotiations.

New research in the field

Now some more topics are added and being researched in negotiation skill. One of such topic is "adding emotions to win negotiations." Anything that makes you win your goals must be considered in business dealings, so this can also be tried.

Conclusion

Negotiation is something that can only be won by will power and confidence. Your thinking of better alternatives and understanding the limits of your negotiation can help you most. Any negotiation is called successful only when both parties win, "Winner takes all" approach is not a better negotiating policy.

Negotiation: The Win Win Strategy

Manu Dutt Tripathi is a young energetic computer professional working as a consultant DBA in leading IT firm of Bangalore, India. He has a master degree in computer science. He is an active member of many technical forums and help users and computer professional through out the world.

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