If you are considering negotiating debt settlements with your creditors, it is important to seek the assistance of a knowledgeable attorney. Each creditor approaches debt negotiations differently, so having an experienced lawyer who is familiar with your creditors can help ensure a positive outcome.
There are a variety of factors that creditors consider in whether to work with you, including:
- Total amount owed
- Type of debt
- Who is owed the money (original creditor versus debt collector)
- Amount of interest accrued
- Amount of your total income
- Any previously filed bankruptcy cases
- Any pending foreclosures or repossessions
A benefit of using an attorney who handles personal bankruptcy filings to handle your debt negotiations is that your creditors may be easier to convince that if they want to be paid any money from you, they must be willing to negotiate a lower amount. In other words, if a creditor understands that if you are forced to file a Chapter 7 or Chapter 13 case, it is likely they will wind up getting significantly less (if anything) than if they agree to a settlement with you.
At DeLadurantey Law Office, LLC, we help you understand all of your debt relief options. We are aggressive advocates in protecting your best interests and we are dedicated to obtaining a positive result for you. Contact us today to schedule your initial consultation and learn how we can help you!
At DeLadurantey Law Office, LLC, we help businesses and families find their way out of highly difficult financial situations. We provide the advice and guidance you need in obtaining debt relief through bankruptcy and debt negotiations. We can also assist you in defending a foreclosure action. Contact us at 414-377-0518 to discuss how our Milwaukee bankruptcy attorneys can assist you. Like us on Facebook.