Charlotte Debt Settlement Lawyer
Understanding Your Financial Options
Debt settlement is the process in which you can negotiate with your creditors to settle your debts for a reduced amount. Debt settlement involves continuing minimum monthly payments until the debt is satisfied under the new terms, or in a lump sum. If you stop making payments altogether, your creditor will likely take other steps to collect your debt, such as selling your debt to a debt collector. If your debt goes to "collection," this will have a negative impact on your credit score and you will have difficulties getting loans in the future. If you are struggling to find a way to pay off your debts, contact a qualified lawyer to discuss your debts and your different possible options.
When a person files a petition for bankruptcy, there is a chance that the creditor to whom they owe money will lose any chance of collecting on the debt that is owed them because that debt may be erased during the bankruptcy process and debt litigation. For this reason, creditors are likely to negotiate with debtors and their attorneys to lower the amount that they are owed, because they will at least recover some of the money, instead of losing out altogether if the debt is expunged through bankruptcy.
Looking to settle some of your debts? Contact our firm today.
If you are looking for a Charlotte bankruptcy attorney who can help you to settle your debts, we encourage you to contact our firm immediately. At Love & Dillenbeck, PLLC, we specialize in helping people get out from under the pressure of a crushing debt load. Whether through debt settlement, or bankruptcy with debt litigation, it is our chief aim to help every client get a fresh start financially. Handling your debts in a timely manner is important if you want to avoid negative entries on your credit score. If you are struggling with debt, contact our legal team today so that we can work out a course of action for you to be debt free as soon as possible. If you are in the process of negotiating a debt settlement with your creditors, we may be able to help.