Debt Settlement

Debt Settlement: Negotiating for a Lower Principle

Debt settlement is an alternative to bankruptcy that allows you to pay less than you owe and have the remaining amount discharged. Creditors and lenders are often willing to accept less than full payment because they believe that receiving some payment is better than none. Not only will you experience a certain level of financial freedom, but communication from your creditor will also cease.

While it does not discharge all of your debt like bankruptcy, it is a viable alternative that produces excellent results if done correctly. If you are under a great deal of debt, consult with a qualified bankruptcy attorney to learn how a legal representative could help you negotiate with your lender for a lower principle.

It is common knowledge that we are facing hard economic times. Many people are finding it difficult to make their payments on their home, car, or consumer credit. This may be due to loss of income, an underwater loan or any other financial difficulty.

Lenders and creditors will do their best to collect payment from individuals who have defaulted on their payments, but they also understand that in some situations a person may not be able to repay their debt in full. For situations such as this, collecting some payment versus none at all is often the best decision a lender can make.

When Should You Seek Debt Settlement?

There are certain provisions and circumstances under which it would be advantageous for you to consider debt settlement. If you are experiencing any of the following situations, I strongly recommend that you get in touch with a knowledgeable lawyer straight away:

  • Bankruptcy is one of your considerations for debt relief
  • You are beginning to fall behind with various payments
  • You have outstanding unsecured debt
  • You are not in financially able to repay any of your bills
  • If your debt was reduced, you could feasibly repay your debts

In order to obtain a debt settlement, the first thing you must do is hire a skilled debt settlement lawyer. Only a legal representative with experience in this area can ensure that your principle is reduced to the lowest possible amount. At Cherney Law Firm LLC, I have handled over 2,000 cases and I know exactly how low a lender should be willing to go. By retaining me to assist you in achieving a settlement, you can rest assured knowing that your attorney will fight for you.

Hiring a Bankruptcy Lawyer

With the economy as tough as it is and with sudden expenses that can spring up from medical bills and other emergencies, I understand that obtaining debt can often be no fault of your own. Certain circumstances result in sudden costs that can take you from a place of financial security to an overwhelming place of debt.

If you are struggling to meet your monthly payments or have defaulted on your loan, contact Cherney Law Firm LLC today. Since 2006, I have assisted clients in settling their debt and finding the relief that they so desperately need. Call now or fill out the online evaluation so that I can learn exactly how I can provide you with the experienced legal representation you deserve.

Contact US

You may call us directly at 770-485-4141, or you can fill out the form and we will contact you. Feel free to ask us any questions that you might have. Make sure to indicate whether you would like an e-mail or a call back

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