Debt Settlement
The Law Office of Simon Goldenberg proudly offers qualified clients debt settlement services performed with original creditors or debt collectors where principal debt can be reduced, sometimes substantially.*
Essentially, debt settlement is the process of negotiating with creditors to reduce overall debts in exchange for a lump sum payment. A successful settlement occurs when the creditor agrees to forgive a percentage of total account balance. Only unsecured debts not secured by real assets like homes or autos can be settled. Unsecured debts include medical bills and credit card debts - not student loans, auto financing or mortgages. For the debtor, this makes obvious sense, they avoid the stigma and intrusive court-mandated controls of bankruptcy while still lowering, sometimes by more than 40%, their debt balances. Whereas, for the creditor, they regain trust that the borrower intends to pay back what he can of the loans and not file bankruptcy (in which case, the creditor risks losing all monies owed).
CALL TODAY FOR A FREE CASE EVALUATION
347-640-HELP (4357)
*Prior results do not guarantee future performance. Settlements can vary based on a variety of factors including the type of debt, the creditor, rate of delinquency, debt amount, etc.