Debt Negotiation

In many situations, a bankruptcy may not be the right or only answer. Some people may make too much money, have too much in assets, or have a prior bankruptcy within the last 8 years. There are many more reasons why a person may choose not to file bankruptcy. For these individuals, SM Law Group offers Debt Negotiations or settlements, where we can reduce the amount owed on each individual debt.

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 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. This is where a person can choose to negotiate and settle their debt for less. Our firm will contact your creditors and begin making offers that are affordable to you. We have a very high success rate in reducing your remaining balances and settling them so that your creditors close out the accounts and you no longer owe them any more money.

How it works: We will establish a trust account for you to deposit funds which will be used to pay the creditors we reach settlements with. Once we start negotiating with your creditors, we will start at the lowest possible amount. As we negotiate, your funds will be ready should a settlement be reached. We will not 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.

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