Debt Negotiation & Settlement

Debt negotiation is the process by which a debtor, or party representing the debtor, and the creditor come together in an effort to find an amicable solution that effectively decreases the amount owed and resolves the debt. Debt negotiation is one of several alternatives to bankruptcy, or may be a last attempt before making the decision to file. It can be very difficult for debtors themselves to negotiate debt with their creditors, because it is generally in the best interest of the creditor to keep loan amounts and interest rates high. In some situations, individuals have been able to negotiate lower debts due to creditor harassment or unethical collection methods.

No matter what happens, You should never subject yourself to creditor harassment, threats, etc. You have rights under the Fair Debt Collection Practices Act, and we use this Act to effectively negotiate your debts to a affordable amount.

Debt settlement is a difficult process for those who are not professionally familiar with the process, and sometimes it is possible for a creditor to take advantage of the debtor. Creditors goal is to get the maximum from you by preying on your fears and morals. Our job is to pay them as little as possible so that you can keep the rest for the betterment of your family

Not everybody is qualified to file a Bankruptcy. Especially for those people working in the Financial or Insurance Industry. There are alternatives to settling your Debts: Negotiating and Settlement.

There is already a dark mark on your credit report because you did not pay your debts on time. Negotiating, Settling and ultimately paying some or all of your debts is not going to improve your Credit Score. Credit Score only improve with time. Our Office does Credit Restoration for a small fee.

There are various methods of settling your debts:

1. Negotiate and pay a one-time lump sum lower payment. The creditor will report the debt as “settled for less than full amount” on your credit report.
2. Negotiate a monthly payment with or without interest. A small down payment may be necessary.
3. Combine all debts, negotiate with the creditors, and once we have an agreement with a creditor, settle the debt for a lump sum. This may require you to make monthly payment to the attorney’s trust account. The attorney will settle the debt [with your permission and consent] for the amount negotiated for and agreed by you. We will never settle without your consent.

The older the debt, the lower the amount it can be settled for. Our office has settled debts for as little as 10% of the original amount. However this percentage is not guaranteed or a reflection that your debt will be settled for 10%.

Creditors retain the right to sue you even if negotiations are ongoing. Our office can assist you in defending these lawsuits, and many times resolve the debt while in litigation.

A Fort Lauderdale Debt Settlement lawyer can help you.