When debt starts to spiral out of control the stress of the situation is often increased by creditors and debt collectors who may seem to go out of their way to add to your problems. Communicating as the debtor who is unable to make payment with a creditor demanding settlement, it may seem like the gap between you is too large to be bridged. Ultimately, both sides need to find a solution and an experienced lawyer from Guidestone Law Group can represent your interests in a direct debt negotiation.
Guidestone Law Group – Debt Negotiation
Debt Negotiation Solutions
When you are unable to meet your current debt obligations things cannot continue as they are, and something needs to happen. Struggling under the daily pressure of debt collectors to make partial payments with no hope of ever getting ahead or the drawbacks of bankruptcy may both feel like the wrong solution but what else can you do?
For creditors collecting on overdue debts it is an expensive and uncertain process which they would often be interested in avoiding through negotiation and coming to an alternative agreement. This does not mean that debt negotiation is a simple process, and it can be very emotional and contentious at times so it is best handled by a debt negotiation attorney who is working to get the most favorable outcome for you.
The Debt Negotiation Process
The process of debt negotiations can be complicated, and the time frames are difficult to estimate as they depend on many factors like the responsiveness of your creditor. When you decide to move forward the first step will be working together in order to determine what you can afford as well as creating a plan to budget and save for the payment of the settlement. During the negotiations you will follow the plan and upon reaching an agreement with your creditors the payment(s) will be made to settle your debt.
Debt negotiations could be handled by you directly with your creditors but unless you are an experienced negotiator, able to take a step back and approach the discussions without emotional attachment and with knowledge and authority, you should have an attorney act on your behalf to achieve the best possible outcome. This will ensure all terms of the agreement are legally binding and do not infringe upon your rights as well as help stop any harassment during the process because all communication will need to be with your attorney.
About Guidestone Law Group
Guidestone Law Group has experience with all types of debt negotiation. Although secured debts are typically not able to be negotiated almost all other types of unsecured debts are eligible. Examples include medical debts, credit cards, store cards, personal loans, cash advances and some kinds of utility bills. Schedule a no-obligation case evaluation with Guidestone Law Group today.