Sometimes bankruptcy is not always the answer. Very often a person or family can pay the debt if the creditor would just agree to more favorable terms. Sometimes it’s a matter of a lump sum payment for a much reduced amount. Often times the offers already being made to a consumer can be reduced even further with proper representation.
BEWARE of debt reduction firms that have you pay THEM for several months before they attempt any negotiation or settlement. Many times we have seen people who have used such firms spend thousands of dollars and receive no reduction and then have a hassle trying to have the firm return the monies paid.
Often times we can negotiate a debt to 50% or less, but this varies on a case by case basis. You also must be aware that a creditor has the right to file a 1099 and the amount of debt forgiven can be considered income. (Note: this is NOT the case if one files a bankruptcy)
We will explore your options and see if debt reduction is an alternative to bankruptcy.
Debt Negotiation Services
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