Debt settlement is fairly self explanatory — settling your debt for less than you owe. It is possible to settle unsecured debt, including credit card debt and medical bills, for a fraction of the amount owed. It is very important to note that unsecured lenders cannot directly foreclose your house or car to pay themselves back, so they are more likely to settle with you at a lower price.
In practice this means that it is often possible to settle debt for 10 cents on the dollar or less.
In order to undertake this kind of debt settlement, it is necessary to pay the agreed settlement amount in one payment or over a few months, and you have to be behind on payments as a lender will not be motivated to settle your account for less than you owe unless they are afraid you will stop making payments. In order to get this kind of deal, however, you need to know what you are doing when aggressively negotiating and navigating the inner workings of the collection process.
Orlando Debt Settlement Lawyer in Florida
At the Mascia Law Firm, we are able to settle nearly all cases for half (or less) of debt owed for our clients, inclusive of attorneys' fees. We are extremely adept at fending off creditor attacks for enough time to allow homeowners to save funds and settle debt in an agreeable manner. Consumers have often paid the full debt already because when you are paying 20 to 30 percent of the amount owed annually, it is pretty easy to pay it back. We approach settling debt as a negotiated outcome with creditors who are eager to settle with clients.
We are also able to work with debt consolidation, should clients decide to pursue a different route. Whatever your individual situation may be, we can work with you to come up with solutions that will allow you to get out of debt quickly so you can move on with your life.
To discuss any aspect of debt relief options in a free initial consultation, call 407-278-7779 or e-mail us.
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