If you're struggling to make your credit card minimum payments, you may have heard that credit card companies and debt collectors are often willing to negotiate what you owe. One common debt relief option - debt settlement - depends on these negotiations. 

But, working with debt relief companies comes with a cost. And, you may wonder why you wouldn't be able to negotiate your balance down on your own. After all, if debt relief providers can, why can't you?

The truth is that you may be able to. But, your negotiations may not be as fruitful as professional ones can be. And, there may be other perks to working with a debt relief provider rather than attempting to settle your debts on your own.

Get in touch with a debt relief expert to start settling your debts now. 

Why you shouldn't try to settle your debt on your own 

At first glance, you may think that settling your debts alone is your best option. After all, in doing so, you'll avoid any fees debt relief companies charge and take control of your negotiations. But this may prove to be a mistake. Here are some reasons why you shouldn't try to settle your debt without expert help: 

Debt relief companies may be able to achieve better settlements

While credit card companies and debt collectors may be willing to negotiate your balances with you, your negotiations may not be as fruitful as professional negotiations. That's because reputable debt relief companies "can have relationships and credibility to negotiate better terms than you can on your own," Noah Damsky, CFA, principal at Marina Wealth Advisors, recently told CBS News.

So, you should work with a reputable debt relief company rather than try your luck at do-it-yourself negotiations if you want the best settlement possible. 

Save more on your settlement with a debt relief expert today. 

You may not be as diligent about saving for a settlement on your own

Saving money is an important part of the debt settlement process. And, when you work with credit card companies and debt collectors directly, it will be up to you to set money aside for your settlement regularly. But, it can be easy to forgo savings when there's no third party involved. 

So, you may be more likely to save for your settlement when you work with a debt relief company. 

When you sign up for a debt settlement service, you'll agree to a monthly payment you'll send to the company you work with. The company will save that money on your behalf until you've saved enough to start settling your debt. And, since you're working with a debt relief provider, you'll receive regular notifications of when you should make your payments and how much those payments should be. These reminders and assistance from a third-party debt relief provider could make the difference between successfully saving for a settlement and failing to do so. 

Creditors may be less likely to take further action with a debt relief company involved

When you're saving for a settlement, you don't typically make any payments to your creditors. And that can lead them to take further action - like taking you to court for the balance you owe. But, getting a debt relief provider involved could help you avoid such actions. 

When you sign up for a debt settlement service, your provider will typically reach out to your creditors and let them know that you plan on settling the debt and are currently working with them to save and do so. Though there's no guarantee that working with a third party will halt collection activities, doing so may delay creditors until you have enough money saved to start settling your debts. 

The bottom line

If you're considering debt settlement, you should work with a debt relief provider instead of attempting to negotiate alone. While you may be able to reach settlements on your own, they may not be as good as the results professionals can achieve. And, acting on your own means you'll have to be organized and disciplined in saving for your settlement. Moreover, if you don't employ a debt relief company, your creditors may take further action to collect the debt before you can save enough to settle. Get in touch with a debt relief expert today to discuss your debt settlement options.