Every year, Julia Zhu’s husband would gather data on home values in their area, including their own appraisals and receipts, and then he would take a day off work to plead with local officials for a reduction in their property tax.

However, everything changed when she received a letter from Ownwell, which explained how the company could manage that task for her husband. All she had to do was register online, provide some basic details, and Ownwell would handle the rest. They only charged a fee if they successfully saved money for the Zhus. Otherwise, they would not charge anything, which meant there was no risk.

“Last year, we saved about $160 on property tax,” after Ownwell took its share, shared Zhu, 64, from Houston. She was pleased enough to rehire Ownwell this year, resulting in a savings of $260.

Property tax is just one area where Ownwell assists clients in saving money. The company has expanded to include everyday bills, competing with services like Rocket Money and Experian, which also provide bill negotiation assistance. Although the types of bills they can help with might differ slightly, the goal remains consistent: helping Americans save money, particularly during a time when many are grappling with rising costs.

According to a LendingTree survey conducted from September 3-5 with over 2,040 adults, more than 75% of Americans indicated that inflation and economic factors make it harder to manage their bills, with 40% stating they are less capable of covering expenses now than a year ago.

“Many individuals may not be aware that they can negotiate their bills, or they simply lack the time or skill to do so,” stated Yahya Mokhtarzada, co-founder and chief revenue officer of Rocket Money. “In this time of heightened inflation and rising costs, such a service can provide important financial relief and ultimately enhance the user’s overall financial health.”

How do these companies assist in lowering everyday expenses?

After registration and bill uploads, these companies begin negotiating with service providers or agencies to secure lower rates. The types of bills they negotiate include cable, internet, cellphone, and home security services.

Rocket Money even offers to negotiate gym memberships and assists customers in securing refunds for late and overdraft fees.

Ownwell also provides mortgage monitoring and, in specific areas, property tax assistance, which was its initial focus.

“There was an imbalance where a billionaire could lower his property taxes while others couldn’t because the process typically requires hiring a lawyer, which can be expensive,” said Joseph Noor, co-founder and chief technology officer of Ownwell. “We set out to create a solution that employs software to assist everyone, whether they live in a mobile home or a mansion.”

Both Rocket and Ownwell monitor insurance rates and will notify customers if there are possible savings. They also track the bills they’ve negotiated on your behalf, managing renewals and new offers as they arise.

“With the client’s consent, we will renegotiate for them as the contract renewal date approaches,” Mokhtarzada noted.

Since services differ slightly based on the company and location, customers should check what each provider offers in their area.

What about your IRS bill?: Is it possible to negotiate your tax liability? Possibly. Here’s what to consider first.

What are the costs involved?

Rocket Money and Experian include bill negotiation in their premium subscription plans, so there are no additional upfront fees beyond the monthly subscription cost. Rocket Money’s premium plans range from $6 to $12 per month, while Experian charges $24.99.

Ownwell requires no subscription fees to access its services.

If they achieve savings, Ownwell and Rocket Money take a portion of the savings. Ownwell typically charges between 25% and 35%, while Rocket Money’s share ranges from 30% to 60%, according to the companies. Experian, on the other hand, states that customers retain 100% of any savings secured through their negotiations.

How effective are these companies in negotiating lower rates?

Rocket Money reports average savings of 10% to 20% on each bill, though they did not disclose an overall success rate, but claimed to have helped millions of Americans save.

Ownwell predicts that it helps consumers save an average of $250 annually, boasting an 86% success rate in its negotiations.

Experian reports that 81% of its negotiation efforts result in savings.

Can Americans negotiate their bills on their own?

While it is possible for Americans to track and negotiate their bills independently, it can be a tedious and complicated process. Even the former U.S. Surgeon General Jerome Adams found it challenging to negotiate his medical bills by himself.

“As a Realtor, I often had clients request market data to assist them in reducing their property taxes,” she explained. “I had to prepare all the reports for them to make comparisons. Now, with Ownwell, I find it very straightforward.”

To achieve a tax reduction, I often recommend it to many of my clients now.

Zhu, who relocated to the United States from China in 1993, mentioned that these services are especially advantageous for individuals who are not proficient in English, like herself.

“Many people may struggle with English,” she stated. “These services are user-friendly and help them secure savings quickly.”