We have many clients with serious debt issues, but some of them don't want to file bankruptcy, and some people don't need to file bankruptcy. For those people, we can do debt negotiation (which is also called debt settlement) to help reduce their debt burden.
What is Debt Negotiation?
Debt negotiation involves the preparation of correspondence to your creditors with an offer to settle the account in full and often leads to negotiation over the debt. The purpose of our correspondence and negotiation is to minimize as much as possible how much you have to pay back to the creditor. Our goal is to have a client pay back as little as possible. The whole purpose is to save you money! Hopefully a lot of money.
The initial settlement offer amount can vary, but often we will start with a low offer to open up the lines of communication.
How Long Does it Take?
As for the creditor's response, sometimes we hear back in a week or a few weeks, sometimes it may be a few months, sometimes a year, and sometimes we do not hear back at all. It has been our experience that the longer the process takes, we are often able to settle the account for a lower percentage of the overall balance. So time may be on our side, as we have seen with many clients.
We Can Negotiate Any Number of Accounts You Want
Our clients tell us how many accounts they want us to negotiate. Our clients sometimes want us to negotiate for all of their accounts (credit cards, medical bills, hospital bills, repo, loans, evictions, business debt, lines of credit, etc.), or sometimes they may just choose their largest accounts for us to contact.
How Much Will You Have to Pay Back?
The total settlement amount will be determined by a several factors, including who is managing the file (original creditor vs. collection agency; law firm) and their protocol for settling accounts. Obviously, you get the best settlement offers when you are represented by an attorney. We will do our best to get you the lowest settlement possible, but inevitably, it is at the discretion of the creditor.
If at any time a client is served with a lawsuit from a creditor, we can contact the attorney to attempt negotiations.
Need a top debt negotiation lawyer or bankruptcy lawyer? We're very proud that our clients tell us we're the best! When knowledge, experience and results matter, give us a call at (678) 712-8561. We can help.
Our experience really helps our clients and includes having served as a Magistrate Judge, an Assistant Attorney General and as a Senior Assistant County Attorney.
So when you need the services of a debt settlement lawyer, make attorneys William H. Sherman and Valerie W. Sherman your first choice!