Debt Negotiation and Settlement

Debt negotiation involves making an offer to immediately pay off a debt with a reduced lump sum (for example, 50% of the total amount owed) rather than making continued payments over time. This can work if you have money available to pay the lump sum, especially if the creditor understands that your only other alternative is to file for bankruptcy, in which case they may receive far less.

This works best when you are dealing with only a few larger debts rather than multiple creditors, especially if the debts are old and being paid off slowly. However, using a “debt negotiator” can limit the benefit of this approach, since they often expect a hefty fee in return for negotiating such a settlement.
Discover if there are bankruptcy alternatives that best fit your situation.
Contact The Law Offices of Jacob Emrani today for a no-obligation consultation.

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