Debt Settlement or Bankruptcy

In the current economy, thousands of people are facing insurmountable debt and are in dire need of debt relief.  Sadly, over 1.2 million people file a chapter 7, chapter 11 or chapter 13 bankruptcy each year.  Many of these people might have avoided bankruptcy if they had only retained the services of a qualified lawyer and gone through the debt settlement process to attain some form of debt relief.

Debt settlement rather than bankruptcy is a choice made when you are properly informded  of both debt settlement and bankruptcy law so you can rationally weigh your options.  If you are facing deep debt and don’t know what your options are, contact our lawyers who are well-versed in debt settlement and bankruptcy.  A lawyer with debt settlement bankruptcy expertise can review your financial and legal situation and advise you what your options are.

The most appropriate debt relief option for you will depend on your specific circumstances.  For example, if you have over $10,000 in unsecured debt, and don’t possess any valuable assets, debt settlement might be the correct form of debt relief for you. For those whose debts are so high in respect to their income that filing bankruptcy is the only way out, your debt settlement bankruptcy lawyer can inform you of what each process entails.  Furthermore, once you know which debt relief option is right for you, you can make an educated decision on what option is best.

Hiring a Lawyer

Debt settlement consists of an in-depth process that requires serious review of your finances and a willingness to commit to a repayment plan. Attorneys with debt settlement and bankruptcy expertise are expected to act with their clients’ best interest in mind.  When you retain the services of a debt settlement lawyer, the process will go much more smoothly because you have someone on your side who can settle your debts by means of a less invasive form of debt relief.  All communication with creditors--including negotiations--will be conducted by your debt settlement  lawyer. 

Lawyers protect your consumer rights throughout the process, as well as assist you in all the steps necessary to reach an agreement with your creditors.  If you can’t avoid bankruptcy, due to the fact that you do not make enough to pay off a percentage of your debt in a timely manner, then bankruptcy may be your best option. Whatever your situation is, you can rest assured that once you fonsult with our debt settlement lawyers, you will be fully aware of your best possible debt relief options, whether it be bankruptcy or debt settlement.