Hiring a debt settlement lawyer can certainly be in your best interest if you are swimming in debts that you cannot pay. If the idea of opening another bill gives you stress, it could be time to bite the bullet and call our office. As a law firm, we can represent you through the debt settlement negotiations, and if for some reason, they are not as successful as you would like, we can represent you during a bankruptcy filing. Before you visit our office, there are a few things you should consider, including:
What you want to spend.
When you go to settle your debts, you need to pay a certain dollar amount toward them. Clearly, there is no requirement to pay the full amount because you are settling for less than you owe. However, you need to have a budget in mind for what you can afford to pay. Whether this is allocating your tax return or using some money you recently received from an inheritance, you will need to have something to work with.
Your priorities.
If you are unable to settle all your debts, you need to have a priority list in regards to which ones are the most important for you to get rid of. It may be that you are looking to eliminate the high-balance ones, debts with the highest payments, or simply debts with negative collection practices that lead you to be more stressed out than others. Bring your list of priorities with you so we understand what your objectives are. That way, if only a portion of your debts is able to be settled, we can focus on what matters most to you.
What you can afford.
In some cases, you may be unable to settle all of your debts, but you can settle a portion of them and then make payment arrangements to resolve the rest. If that is the case, we will need to know what your monthly budget is and what you can afford to allocate toward monthly debt payments. This way, if some of your creditors agree to enter payment arrangements, we can begin to drop the agreement for your review and signature.
Facts About Working With a Debt Settlement Lawyer
We cannot guarantee what creditors will settle for. However, we understand the nuances of working and negotiating with various lending institutions. We understand what their standards are and how far we can push. As a result, many of our clients have been able to settle their debts for anywhere from 30 to 50 percent of what they owe after utilizing our services.
Call to Speak With a Debt Settlement Lawyer Today
Get the help you need to resolve your financial issues into a better situation. Our law firm can assist you and provide you with the legal guidance you require to make educated and empowered financial decisions, and then represent you to reach the best possible settlement with any of your creditors. To start the process, call our office and schedule a consultation.