Debt negotiation & settlement is a viable alternative if you want to find relief from your debts but would rather forgo the consequences of filing for bankruptcy. This process allows you to negotiate with your lenders and come up with a settlement that is typically less than you originally owed.
When to Hire an Attorney
If you want to go through the debt negotiation & settlement process, you may be tempted to do it on your own. However, working with our attorneys at Leonard & Moore, PLLC can help you minimize the legal risk of the process and also implement strategies to protect your best financial interests.
You should hire an attorney from our firm if you are feeling overwhelmed by the prospect of negotiating your debts on your own or want assistance ensuring that the process is successful. Although our attorneys cannot guarantee that they will be able to lower the amount of debt you owe, we are able to provide you with assistance with this complicated process.
When you’re in the midst of the debt negotiation & settlement process, stick to one story. For example, if you experienced a hardship that prohibited you from paying your bills, be truthful and don’t stray from this story. We can help you come up with viable reason and ensure you are able to maintain this story throughout negotiations.
Additionally, when speaking with lenders, it is best to ask questions to obtain details. For example, if a lender tells you that you will lose your property if you fail to pay your bill, you may want to ask when you will be notified of this lawsuit. We can help you determine which questions to ask to ensure you stay informed throughout the negotiation process.