When someone has an overwhelming amount of debt, bankruptcy is not always the answer. In some cases, it may be possible to negotiate with credit card companies, banks and even your mortgage company to work out successful options for repayment. When you are wary about considering bankruptcy but feel you could benefit from a more structured repayment plan, contact a southwest Florida debt negotiation attorney for assistance.
Why a debt negotiation attorney?
There are a number of companies that offer debt consolidation plans for those consumers who are struggling to make their monthly payments. However, these companies often charge onerous fees and in the fine print, consumers often find there are particular payment plans in place that could ultimately jeopardize their credit. However, if you elect to work with a southwest Florida debt negotiation attorney, it may be possible to lower your overall debt without risking setting up a payment plan that will harm you in the long run.
What types of debt can be negotiated?
There are a number of negotiable debts including your credit card balances, payments to the IRS for past-due taxes and your mortgage payments. In some cases, we can help you work out an agreement with your mortgage company to restructure your mortgage and modify the current conditions of your loan. Credit card companies are often willing to negotiate your outstanding debt if they feel you might file bankruptcy if you are unable to reach an agreement. Oftentimes, working with a southwest Florida debt negotiation attorney is one way to show your creditors that you are serious about resolving your problems unlike attempting to negotiate the debt on your own.
What if my accounts are in collection?
Keep in mind, creditors have the right to sue debtors in order to collect debts. This means if you are unable to pay the debt, the company will file a lawsuit to obtain a judgment to force payment. This is true of all types of debt and especially applies to accounts in collection that might be nearing the Florida statutes of limitations on debt. Before you are notified you are being sued for your debts, it is better to try to work them out. If you have been notified a creditor has filed a suit, it is still not too late, call the Champeau Law office right away and let us get involved before time runs out.
At Champeau Law, we know that bankruptcy is not always the best answer. Sometimes the best answer is trying to reach an agreement with your creditors to settle your debt. Each case is slightly different and we will work with you to make sure we structure a settlement that is in your best interest. Call Champeau Law today and talk with one of our debt negotiation attorneys.