Debt Negotiation
Debt negotiation may be an alternative to filing bankruptcy. Filing bankruptcy requires filing a case with the court under Chapter 7 or 13 of the bankruptcy code. The debt settlement process is not handled through the courts. Debt negotiation is a process in which our attorneys negotiate a reduced payoff of your debt(s) with your creditor(s). Credit card debt negotiation is quite common. However, second position mortgages, medical bills and personal loans can also be settled. Our attorneys will consult with you to review your personal financial situation and discuss all options available to you, including debt negotiation.
Beware of companies the claim to specialize in debt settlement: Debt settlement: A costly escape
Debt negotiation by the attorneys at Spaulding & Ghidotti, APLC, is handled in a more efficient and economic manner than the services of a professional debt settlement company you may have seen or heard advertised on television, radio, or the internet. Debt settlement companies advertise services which include lowering your monthly payments while settlements of your debts are negotiated. The agreements used in connection with these services include (1) Initial Registration Fees, (2) Monthly Administrative Fees and (3) Commissions or Bonuses to the company for a percentage of either the settlement amount or the reduction in debt.
At Spaulding & Ghidotti, APLC, you will never be charged any "hidden" fees. Our fee agreements are clear and based solely on the services we provide you.
Many of the companies advertising debt settlement services are not law firms. At Spaulding & Ghidotti, you will always be working directly with an attorney. Our attorneys have experience settling debts and obtaining positive results.
During the debt settlement process, creditors may decide to commence a lawsuit for the unpaid debt. This is especially true if the account was delinquent for many months prior to initiation of the debt settlement process. As indicated above, the representatives for debt settlement companies are typically not attorneys, and the debt settlement agreement they provide to clients specifically states that the company will not represent you in any manner if representation becomes necessary at any point during the settlement process. At Spaulding & Ghidotti, APLC, you will always be working one on one with an attorney who can handle the debt negotiation process, and any and all legal issues which may arise.
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