debit-picWhat is an Attorney Negotiated Debt Settlement?

Debt settlement is the process of negotiating for a significant reduction in your debts, helping you to settle the debts without bankruptcy. For some of our clients, this may be the most appropriate way to deal with their debt problems. In a debt settlement approach, we can defend you if you have been sued by a creditor. And if you have valid defenses to the debt, we will assert your defenses in court to protect your rights.

An attorney negotiated debt settlement works best for those with a source of income or access to funds that could be used to settle the debt. We have settled numerous debts for clients at a fraction of the balance claimed by the creditor.

Debt Settlement Process

We develop a custom debt settlement plan for each client. Only after conducting a free consultation and full debt analysis can we start to put together the custom plan for a client.  The debt analysis we perform is quite thorough and involves analysis of several factors.  Once the analysis is complete, a custom plan is developed for the client that fits within their budget and provides a realistic path to eliminating their debt.

How Long Does the Debt Settlement Process Take?

In general, the entire process can take a few weeks to a year or more to settle and eliminate a client’s debt.  Factors that impact the length of time include client’s income situation as well as the number of creditors and amounts of debt. Our goal is to get the client out of debt as quickly as possible and we always strive to come up with a plan that reflects that.  It is important to keep in mind that most of the alternatives out there take much longer.

How Involved Will You Have to Be?

You can be as involved as you want to be, but we do all the work.  Our job is to provide relief to our clients.  That means taking on the burdens of dealing with creditors’ phone calls and letters, as well as handling all of the debt negotiations and other tasks necessary to reach a debt settlement.

One of the reasons clients hire our firm is because we immediately send out a letter to all their creditors requiring them to direct all communications to our firm and stop calling the client.  This can be a source of immediate relief to the client.

After the debt analysis is complete and the plan is put in place, we will keep you informed of any and all developments, settlement offers and negotiations.  We want you to be informed and aware of all of the efforts we are undertaking to eliminate your debt.  But we understand you have a life to live and you don’t want to be bothered with this all the time.  So we try to strike the right balance between keeping you informed, but not overwhelming you with too much information.

And if you’ve been sued, we can represent you in court.

How Does the Debt Settlement Process End?

The debt settlement process ends when all of your debts have been settled or otherwise eliminated.  This usually involves signing a settlement agreement or other release documents that provide you a full, legally binding release from the debt.  For this reason, it is really important to have legal counsel all the way through the process.

While we cannot guarantee a particular outcome to a particular debt, we will provide an estimated range of what we believe is a reasonably obtainable settlement amount.  We are confident in our legal skills and are happy to explain this in more detail during the free consultation.