Debt Negotiation and Settlement

Debt Negotiation and Settlement

Debt negotiation and settlement can reduce the total level of debt in addition to reducing the interest rate. As your designated representative, we will reach out to your individual creditors to negotiate debt settlements.  These settlements typically take the form of lump sum payments or monthly payments for a reduced amount.

It is important to note that debt settlement is a debt relief method that can factor negatively on your credit report.  It is important to negotiate the terms of the credit reporting with a creditor, in addition to the financial settlement to limit the negative impact on your credit score.

Debt settlement should not be confused with debt consolidation.  Debt consolidation typically involves consolidating all of your debt into one existing loan.  There is typically no reduction in the debt owed, as there is with debt negotiation and settlement.

We can help you determine if debt negotiation and settlement makes sense for you and the next steps to relieve your financial difficulties.  Our attorneys have many years of experience assisting clients in debt negotiation, debt settlement and business financial resolution.  Contact us today to schedule a free consultation. If your company is experiencing financial distress, seek the advice of an attorney who is skilled in bankruptcy law to help you review your individual situation and review the options that are available to you for relief.

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