At our firm, we understand that bankruptcy may not be the most suitable option for all clients facing financial challenges. For those who do not qualify for bankruptcy or simply prefer not to pursue that route, we offer a highly effective alternative: attorney-assisted debt settlement.
Attorney-assisted debt settlement is a process through which we assume responsibility for direct communication with your creditors. This alleviates the burden of constant creditor calls and allows us to negotiate on your behalf. The success of the settlement process largely depends on the stage of collections your debts are currently in.
To initiate the debt settlement process, it is essential to have some funds available to make lump-sum payments towards your debts. This approach allows us to leverage the available funds to negotiate substantial reductions in your outstanding balances.
We prioritize addressing the most aggressive debt collectors first. This includes creditors who have filed lawsuits or possess additional leverage due to cosigners or liens against business assets, among other factors.
Typically, once a debt becomes seriously delinquent (usually around 90-days), we present a lump-sum offer to the creditor. Through skillful negotiation, we aim to settle these accounts for a significant percentage of the total balance owed, typically ranging between 30-60%. This level of savings can be substantial, offering our clients the potential to reduce their total debt by as much as 50%, even when accounting for the potential tax consequences.
Again, attorney-assisted debt settlement is not a suitable option for everyone. While it provides a viable alternative to bankruptcy, it does require the availability of funds, whether from the clients themselves or through the support of family, friends, or other means. Our service is particularly beneficial for clients who possess a lump sum and have a manageable amount of debt to address.