When you face a large amount of personal debt and cannot get ahead on your payments, you have multiple options. An excellent solution for many individuals is to work with an experienced negotiator to pursue a settlement that could reduce the amount of money owed. That would allow you to avoid going into Bankruptcy or fighting your creditors in court.
This process can be daunting and is best handled by an experienced lawyer with the backing of a firm dedicated to achieving debt relief for their clients. Creditors will know you are serious and be unable to take advantage of you when Greenstone Legal Group represents you in direct debt negotiation.
Common Solutions to Debt Negotiation
There are many types of agreement and settlement options on the table when negotiating your debt. These could include a lump sum payment of a reduced amount from what was originally owed and / or consolidation of debts with a restructuring of terms such as interest and payments.
Your creditors may be interested in accepting alternative debt settlement arrangements because it allows them to receive a guaranteed amount of the debt now instead of possibly none of the debt later. If you were to file for Bankruptcy or the debt is unsecured, they may not receive any repayments in the future, so negotiations could turn a potentially uncollectable debt into a payment.
Examples of Debt that can be negotiated include unsecured debt such as:
Medical Bills
Credit and Store Cards
Personal Loans
Cash Advances
The Debt Negotiation Process
Debt settlement in this way involves negotiating with creditors by Greenstone Legal Group to reduce and restructure the amount of debt owed. Once we have reached an agreement with your creditors and you accept the terms, then make the payment(s) as required by this new settlement, no further collections will be made. You will be free from debt.
Once the debt is cleared, you may also find that debt settlement may have less of an impact on your credit score than Bankruptcy because it demonstrates to your creditors that you tried your best to pay what you could.
Assistance from Greenstone Legal Group
When Attorneys represent debtors during debt negotiations, they are often more successful in starting the conversation and securing the best terms possible. The involvement of a lawyer signals to your creditors that you are taking the situation seriously, and they need to as well. Our firm is well known for our skill with all forms of debt relief, so your creditors will know that if negotiations fall through, other options like Bankruptcy will be possible and result in a worse outcome for them.
The first step in dealing with your debt crisis through negotiations or other means is to have a free case evaluation with our advisors, and we will work with you to determine the best way forward.