Do you feeling like you’re gasping for air, each month as the bills come due? Are you seeking assistance with debt settlement? Do you want to repay your debt, as best you can, and avoid bankruptcy? Don’t know where to start or how to go about the debt settlement process? Then call the DCDM Law Group, where our debt settlement attorneys will work with you – and your creditors – to create debt settlement agreements, which will have you breathing easier once again.
What is Debt Settlement?
The process of debt settlement – which is also called credit settlement, debt arbitration, or debt negotiation – is one method of debt relief that involves negotiating with your creditors to pay off your debt, at a reduced balance, and have that pay-off be regarded as payment in full. In other words, you agree to pay just part of your unsecured debt, such as money owed to a credit card company or for medical bills and your creditors consider your debt to be completely absolved.
Key to the debt settlement process is aggressive negotiation with your creditors. While some people opt to attempt to negotiate on their own, they usually do not have the skills and knowledge to get the largest debt reduction. That’s why it’s important to have a debt settlement lawyer working for you, conducting the settlement negotiations, and striving to get the balance reduced to an amount that you really can afford to pay off. You’ll save money – potentially lots of money – by having a debt settlement lawyer conducting the negotiations with your creditors.
Why Would a Debtor Want to Negotiate?
Many debtors – those companies you owe money to – understand that if you were to file for Chapter 7 bankruptcy, they wouldn’t receive any money – or possibly very little – on their outstanding debt. Therefore, it is in their best financial interest to accept a debt settlement agreement, where they’ll receive more of the amount that they are owed. And for you, the debt settlement agreements mean you don’t have a bankruptcy filing on your credit report and you’re able to pay off your debts at a reduced rate.
Lump Sum Payment
In most cases, debt settlement involves making a lump sum payment to each of the affected creditors. This means you will need to have set-aside money to make these lump payments, which can be a challenge. Therefore, you’re either going to do some serious budgeting, sell some of your possessions, or take out a loan. This is one of the challenges of debt settlement.
Working with a Debt Settlement Attorney in Pasadena
A skilled, aggressive debt settlement attorney is your strongest advocate. Not only will many creditors not negotiate directly with a debtor, your lawyer will fight for you and protect your rights as a consumer. You need a lawyer who will skillfully negotiate on your behalf, getting your debt reduced to a manageable amount that you are able to pay off.
In Pasadena, CA you need the debt settlement services offered by the attorneys at DCDM Law Group. We’re in your corner and will fight for you, pushing your creditors to agree to a significantly lower pay-off than the amount you currently owe. Call us, today, for more information on our debt settlement services. You’ve been stressing over your finances for long enough: now’s the time to explore your options and work with the pros to get back into financial stability. Call our offices, now.