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    Bankruptcy Debt Negotiation

    What Is Debt Negotiation?

    In many situations, a bankruptcy may not be the right or only answer to handling financial debt. Some people may make too much money, have too much in assets, or have a prior bankruptcy within the last eight years. There are many more reasons why a person may choose not to file bankruptcy. For these individuals, SM Law Group, APC offers debt negotiations or settlements, where we can reduce the amount owed on each individual debt.

    Call our Los Angeles debt negotiation lawyers to discuss your individual debts today at, or contact us online for a free consultation.

    When Should I Choose Debt Negotiation Over Bankruptcy?

    There are several ways an individual can get themselves out of debt. Bankruptcy is just one option. There is also debt consolidation, debt settlement, debt negotiation, and always the option of just paying everyone in full. In non-bankruptcy debt relief options, a person can choose to negotiate and settle their debt for less.

    Debt negotiation may be an effective option in the following situations:

    • In many cases, a person may not qualify for bankruptcy or may not have much of debt for a bankruptcy to be effective.
    • They may have enough funds to pay just some of the debt but don’t want to see late fees and interest accruing every month on the remaining balance of their accounts.

    Consult an attorney to discuss the most effective way to tackle your debts, whether it be through bankruptcy or debt negotiation.

    How Our Debt Negotiation Lawyers Can Help You

    Dealing with creditors can be challenging, especially if you are not familiar with the laws and ways to protect your interests. Our attorneys can guide you through the entire process to safeguard your rights and guide you towards the most effective outcome possible.

    Our team can help you:

    • Contact creditors: Our firm can contact your creditors and begin making offers that are affordable to you. We have experience in reducing balances and settling them so that creditors close out the accounts and debtors no longer owe them any more money.
    • Handle account logistics: Our attorneys can establish a trust account for you to deposit funds, which will be used to pay the creditors we reach settlements with.
    • Negotiate with creditors: Once we start negotiating with your creditors, we start at the lowest possible amount. As we negotiate, your funds will be ready should a settlement be reached. We don’t make a settlement for you above what’s been deposited in the trust account. As we continue negotiating, you may deposit funds into the account for a better likelihood of success. When we tell your creditors that funds are immediately available for a settlement, they are more likely to accept our settlement offers. Once you no longer owe them money, you can rest easy and begin rebuilding your credit.
    • Educate you on the risks: Our team also values honest communication and transparency, which is why we’re also able to inform you on the risks involved with debt settlement. For instance, one major risk is that your credit may take a hit, as debt charged off by lenders will stay on your credit reports for seven years. Additionally, the IRS considers forgiven debt to be taxable income, which means you may need to pay tax costs. We can help you look at your situation from various angles so you understand what is at stake.


    Consult Debt Relief Attorney

    Consult a Trusted Debt Relief Attorney

    Though it may be tempting to negotiate a settlement yourself, the legal system is complicated and requires a thorough understanding of bankruptcy laws. Our attorneys are able to educate you on your unique situation and walk you through each step of the debt negotiation process so nothing is missed and you’re not taken advantage of.

    For knowledgeable, client-focused service, call our Los Angeles debt negotiation attorneys at . We take same-day appointments for client convenience.

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