Debt Relief Negotiation Can Reduce Your Balance by 50-70%
Many people who need debt relief don’t know they can negotiate over the amount they owe.
While almost anyone who’s in debt can haggle with a creditor to lower the balance they owe, it’s more beneficial to have a bankruptcy lawyer do it because it yields a better debt negotiation outcome & takes the stress off you.
Having Credit Solutions handle your debt negotiation can take hundreds to thousands of dollars off what you owe.
How Does it Work?
Creditors and collection agencies are in the business of collecting debts as quickly as possible. Many creditors will make an offer and settle for a reduced balance if the debt is paid in full immediately, as opposed to making minimal payments that span several months or years.
If you’re on the verge of filing Chapter 7 bankruptcy, creditors will often settle for less in order to receive some payment as opposed to receiving nothing.
Before a reduced offer is made, the creditor will want a financial statement from you to assess your financial situation with information about how much you make a month, how much you spend on monthly necessities like food and fuel, and how much of your income is being applied towards other debt.
Individuals who are over $10,000 in debt, who’ve held the debt for over a year, or who are on the verge of bankruptcy are most likely to get a reduced balance.
Since eligibility is not rigidly defined, our bankruptcy lawyers can facilitate your unique financial situation in order to make you eligible for debt negotiation.
How We Help
Credit Solutions’ bankruptcy lawyers have an in-depth knowledge of the financial details creditors assess. We help you draft a financial statement that’s beneficial to negotiating a better payment plan or a reduced balanced.
People who consult Credit Solutions about debt negotiation often reduce their debt by a large percentage. In fact, the average debtor receives a 50-70% reduction on the balance owed!