Overview of Debt Negotiation
Financial obligations are hard to keep when you’re struggling in this economy. Payments for loans, credit card bills, and medical bills can quickly stack up, and if you’ve lost your job, had your pay reduced or experienced another setback, it becomes impossible to pay your bills. Financial strain can be lessened with debt negotiation, which is a viable alternative bankruptcy proceedings.
Put simply, debt negotiation is meeting with your creditors and asking that they modify their terms. Once this has been completed, you can negotiate a lower interest rate, a reduction of the principal amount, or a lump sump that is less than the original debt.
The goal is to reduce what you owe, and then pay back that amount. Creditors aren’t easy to deal with, but if you have an experienced Engel Law Firm attorney representing you, the process becomes much smoother and is more likely to succeed.
Are You Considering Debt Negotiation?
We’re ready to work with individuals who are struggling to afford their monthly debt payments. Our method is to provide you the right services in terms of debt relief, which can also include collections defense, debt settlement or debt litigation.
If you are in possession of overwhelming debt, contact Engel Law Firm today.