Is it Worth Getting a Bill Negotiation Service?

bill negotiation service

“I [have]… a very particular set of skills, skills I have acquired over a very long career, skills that make me a nightmare for people like you.” If your bill negotiation service representative was action star Liam Neeson, this is how he might sound when confronting your service providers. The real-life version might be less exciting, but that doesn’t mean hiring someone to slay your cell phone bill won’t be rewarding.

Life is expensive. Coming down off Covid-19 restrictions has only driven prices up. In April 2021, the consumer price index came in at a 4.2 percent annual rate – a much higher rate than predicted by Bloomberg’s passel of surveyed economists. Now, it’s more important than ever to do a deep dive into your finances and find those expendable expenses.

Bill Negotiation Service –The Pros

A budget is like a garden; it requires regular care and attention. If we aren’t diligent about tending the plants, we might be facing a snarl of weeds and rocks that overwhelms us. Sorting through that might mean sifting through endless bank transactions and spending hours on the phone.

High monthly costs are when a bill negotiation service might come in handy – some will ferret out long-lost subscriptions and cancel them for you. Others will help negotiate lower rates on bills like utilities, cable, phone, internet, gym memberships, and more.

One of the top-rated shops in the industry is Billshark. It’s the brainchild of Shark Tank veteran Mark Cuban and, in addition to bill negotiation, offers services like home insurance quotes, subscription tracking, and internet speed testing. You have the option of uploading a copy of your bills or providing your credentials.

The firm takes 40 percent of your bill savings as payment and $9 per canceled subscription. If you don’t save money – you aren’t charged. Word to the wise, do find out what total that 40 percent comes from, and how the company expects to be paid.  Billshark is rated well, but not all companies are created equal, so do your research, check with BBB and Trustpilot, and ensure you understand the pay structure.

Bill Negotiation Service – The Cons

While these businesses may save you time, you surrender a lot of control over your finances. These services imply that negotiating a lower rate with a provider is a specialized skill that only a select few have – much like Liam’s character Bryan Mills in Taken. And it’s not. It just takes a little bit of research and a willingness to navigate a phone tree or two. The better part is you don’t have to hand over half your savings to some other company.

Challenge yourself if you don’t feel confident brokering the best deal. Google ‘script for negotiating bills’, and you’ll find a wealth of information. Many suggest trawling your provider’s website for the lowest rate – even that promotion meant for new customers.

When you’re ready to talk with the company, some sites suggest that you clearly state your objective: “Hi, I notice that X service is getting pretty pricey. Can you suggest other plans/ways/etc. that cost less?” Don’t forget to be respectful; that can go a long way towards your goal.

Read More:

7 Ways to Save Money on Your Cell Phone Bills

Cutting Down on Your Energy Bills

Paying Emergency Medical Bills for Your Pet

Photo by Headway on Unsplash

Posted in: Debt, Money, Personal Finance, saving money

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