Can Negotiating With Creditors Get You Debt Relief?

For many people, bankruptcy is not the best option. You may not qualify for bankruptcy or it may not give you the best outcome for your financial future. In these situations, our Essex County lawyers look at all of your options, including debt negotiation. We know your main goal is to get out from under the overwhelming debt you've been buried under. We want to help you wipe the slate clean so you can start over. Call 973-323-2953.

Providing Debt Relief For People All Over New Jersey

Located in Maplewood, our law firm was formed specifically to help people who need debt relief. Levitt & Slafkes, P.C., works with clients interested in filing for bankruptcy or who want to negotiate a better arrangement for their debt. Bruce Levitt and Shelley Slafkes have more than 30 years of experience finding the right solution for each person's debt problems. We have helped thousands of people get out from under their debt. We look forward to the opportunity to do the same for you.

What Is Debt Negotiation?

Debt negotiation involves a third party working as an intermediary between you and your creditors to reduce the amount of your debt. Often, a creditor will take a lower payment instead of being paid nothing because you cannot afford to pay the full amount. This may be the ideal situation for some people as it usually involves a payment plan that they can fit into their budgets.

A few things you should know about debt negotiation:

  • Creditors are not obligated to accept your offer of partial payment.
  • Creditors may still be able to sue you for nonpayment, depending on the situation.
  • Negotiating your debt will not remove negative information on your credit report.

There are many debt consolidation scams out there that should be avoided. Our attorneys will always be honest with you about your options and what will give you the best outcome.

Debt Negotiation vs. Bankruptcy

Depending on your situation, bankruptcy may be the better option. It can wipe out your debt entirely and give you the relief you're looking for. Our attorneys will review your situation and explain all of your options. If debt negotiation is more in your favor, we will work with your creditors to find a reasonable payment plan. If bankruptcy is the way to go, we will guide you through every step. One of us is always available to answer your questions and support you through this process. We find the right solution for your unique circumstances so you can get your finances back on track.

Get A Free Consultation About Negotiated Debt Relief

Contact us to schedule a free initial consultation with one of our attorneys. You can reach us by filling out our online form or by calling 973-323-2953.