Debt Negotiation Lawyer Greensboro, NC
Are you feeling consumed by debt? Is your debt so bad that you are worried you may have to file bankruptcy? Take some of the weight off your shoulders by consolidating your debts. A debt settlement can be a great alternative to bankruptcy. Just like filing for bankruptcy, debt negotiation is not a process you want to go through alone. At Ivey McClellan, we have skilled negotiators (with over 70 combined years of success in Greensboro, North Carolina) ready to work with creditors on your behalf. We will use our knowledge and expertise to pursue a permanent payment reduction or negotiate a debt consolidation agreement. With us working on your side, you are much more likely to strike a deal with the collection agencies.
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How Does Debt Negotiation Work?
During the debt settlement process, your debt negotiation attorney will contact any creditors you have outstanding balances with to negotiate either a lump sum pay-off or a repayment plan to settle the bad debts without penalties. On average, we will request a pay-off of 40%-60% of the original amount owed along with the cancellation of interest rates and late fees. Using tactics and strategies that have worked for our clients time and time again, we have successfully negotiated debt solutions for the majority of debtors. Some debt collectors are harder to negotiate with than others; however, we have the aptitude and patience it takes to get you one step closer to an excellent credit score by providing superior debt resolution services.
The types of debt that can typically be negotiated down into a debt consolidation loan or into a debt relief program include:
- Unsecured debts (collateral not required)
- Credit card bills
- Student loan debt
- Unpaid medical bills
How To Negotiate Debt Settlement With A Lawyer
You do not have to have a debt settlement attorney in order to negotiate with creditors and collection agencies; however, it is strongly advised that you at least seek the advice of someone who is experienced in debt negotiations. The professional, highly experienced lawyers here at Ivey McClellan possess expert negotiation skills, and know-how to minimize your legal risks while negotiating the best solution for you to begin your debt-free life.
There are credit counseling and debt settlement companies, such as National Debt Relief, you can work with. Unfortunately, these options usually end up costing you more than working with an experienced debt relief attorney. You may be in need of debt resolution help if you:
- Have a substantial amount of debt
- Are at risk of having your wages garnished
- Have received threats from creditors to seize your property
- Are being sued by a creditor or debt collection company
- May need to file for bankruptcy
- Financially unable to make your monthly payments
Once you have found the right lawyer to work with, the first step will be calculating how much debt you can afford to pay before starting negotiations with the creditors.
NOTE: Negotiations can take anywhere from 3-36 months. If your debt settlement takes an extended amount of time, that gives you an opportunity to save enough money to pay your debts in large lump sums. You and your attorney will work together to come up with a debt management plan, typically starting from the lowest balance to the largest.
With a plan in place, your debt negotiation lawyer will begin the negotiation process with the creditors. By law, once they know you are being represented by an attorney, the credit company can no longer contact you directly. All further communications will be done between the collection agency and your lawyer. This will relieve you of stress and end the possibility of creditor harassment.
If bankruptcy is declared, your attorney will remind the debt collectors that it is in their best interest to negotiate the debt down. When bankruptcy occurs, the unsecured debt is typically discharged, meaning the creditors will not get any of the balance owed. By choosing to negotiate a lower settlement, the credit company will at least receive a percentage of the outstanding balance.
Whether you are working with an attorney or not, you should always have the final settlement agreement evaluated by a legal professional to make sure you are getting the best result possible. We would be more than happy to schedule a consultation with you to look over any agreements for you and give you the advice you need to get the results you deserve.
The Help You Need To Get Out of Debt Is Here
Our attorneys have successfully negotiated large debt reductions all throughout North Carolina. You can be our next success story. All you have to do is contact us or schedule a consultation online to get started right away.