Ever noticed a hike in your monthly Internet bill?
We did too. Initially, it was $50/month, then $60, and now it’s nearly $80/month. While canceling isn’t an option, negotiating with the provider seems to be the next best step.
But what if you’re pressed for time or simply don’t want to haggle on your own?
Enter bill negotiation services. These entities have sprung up in recent times, offering to negotiate bills on your behalf. When they clinch a deal (which they often do), you’ll owe them a share of the monthly savings they garner for you.
Considering using one? This article offers a deep dive into some of the top players in this space, ensuring you get the most value for your money. Let’s dive in!
Why Not Simply Request a Discount on Your Bills?
Granted, bill negotiation might not sound like rocket science. If you’re persistent, you could probably handle negotiations yourself and avoid service fees. However, many lack the time, patience, or inside knowledge to secure the best discounts. This is where these services shine.
What Can Bill Negotiation Services Do for You?
These services can haggle over nearly any recurring payment, including:
- Internet, cable TV, and phone services
- Wireless contracts
- Gym memberships
- Landscaping, pest control, and waste disposal
- Satellite radio and security services
Common culprits of inflated bills include cable, Internet, and cell phone providers.
The “No Savings, No Fee” Promise
A majority of these services operate on a straightforward principle: If they can’t secure savings for you, they don’t charge you. When they do, they’ll typically take a cut from the savings they’ve achieved.
Here’s a closer look at some prominent bill negotiation services:
- Bill Shark: Gaining visibility on “Shark Tank”, this service claims an 85% success rate in bill negotiation. Though they managed to save us $336.40 in total, a 40% fee ($134.56) applied, leaving net savings of $201.84.
- Cost: 40% of annual savings (for up to 2 years).
- BillCutterz: Operating since 2009, their specialists strive to cut down your bills. Their process, typically completed within 48 hours, involves a 50% fee on the first year’s savings.
- Cost: 50% of a year’s savings.
- Rocket Money: More than just a negotiation service, Rocket Money offers comprehensive financial tracking. With an 85% success rate, they charge a 40% fee on the savings they generate.
- Cost: 40% of savings.
- Experian BillFixer™: Originated by two brothers and now under Experian, this service scouts for discounts and deals. It’s part of Experian’s premium suite.
- Cost: $24.99/month after a 7-day free trial.
- Trim: A holistic financial management tool, Trim can potentially reduce your bills by up to 30%. However, some users have reported system glitches.
- Cost: 33% of annual savings.
- Bill Advisor: An all-encompassing service, Bill Advisor not only negotiates but also continuously monitors your bills. Their exact cost structure can vary.
- Cost: Depends on membership level.
Navigating Medical Bill Negotiation
While the above mainly tackle regular household bills, some services specialize in medical bills. Here are two worth noting:
- Medical Cost Advocate: Aimed at deciphering convoluted health care costs, they only charge if they save you money.
- Cost: 35% of savings.
- CoPatient: This service scans medical bills for errors, claiming that up to 80% of bills may have them. Once identified, they negotiate on your behalf.
- Cost: 35% of savings.
In Conclusion
Many of us inadvertently overpay on monthly bills. These bill negotiation services offer a way to potentially recoup some of those losses. Choose wisely and save smartly!
