Can Negotiating With Creditors Get You Debt Relief?

For many people, bankruptcy is not the best solution for solving their financial problems. Debt negotiation often is a better option.

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 accept a lower payment instead of being paid nothing. This may be the ideal situation for some people as it usually involves a payment plan that they can fit into their budgets.

Important Facts About Debt Negotiation

Here are three facts 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 from your credit report.

Plus, it is important to know there are debt consolidation scams that should be avoided.

Debt Negotiation vs. Bankruptcy

If debt negotiation is the best option for you, our attorneys at Levitt & Slafkes, P.C., 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.

Our attorneys are 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.

Our Attorneys Focus On Debt Relief

Located in Maplewood, Levitt & Slafkes, P.C., was formed specifically to help people who need debt relief. Attorneys Bruce Levitt and Shelley Slafkes each have more than 30 years of experience in solving debt problems. We have helped thousands of people in Essex County and throughout New Jersey get out from under debt.

How To Contact Us

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

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.