Debt Settlement

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Why Choose Us?
  • Successful Reduction of Your Debt
  • Experienced Negotiation Tactics
  • Stop Creditor Harassment
  • Affordable and Effective
  • FREE Virtual Consultation

What is Debt Settlement?

Many Arizonans struggle under the burden of debt, so just know, you are not alone.  Often times, the debt racks up due to the pandemic, unemployment or medical bills from unforeseen circumstances.  It can place your well laid plans into a state of disaster, and make your goals of purchasing a home or car feel out of reach.

Debt Settlement is an option which allows you to reduce your debt and help lessen the overall amount you owe to your creditors.  Debt settlement is a process in which a creditor agrees to accept a reduced amount for the existing debt.  Depending on the creditors, they are willing to work with consumers to negotiate either lump sum options or lump sum and payment plan options.  The final outcome, is most often a definite “win” for both the consumer and for the creditors.

The negotiation process can be difficult to navigate on your own and the more creditors you have to deal with the more difficult it can become.  Oftentimes, creditors can be stubborn and take a very hard line approach.   An experienced attorney can help navigate these murky waters and has the tools necessary to deal with the creditors’ tactics.  In hiring a skilled attorney, with a proven track record, can help make the process easier and offer a favorable outcome that fits your budget.

What is the difference between debt settlement and debt consolidation?

Debt Settlement is the process of negotiating a reduction in the amount of debt you owe.  Agreements are reached with each creditor and payment plans are made to allow you to pay off the reduced balance.

Debt consolidation is taking out one loan to pay off your other existing loans.  If you are currently struggling with the amount of debt you have, debt consolidation is more than likely not going to be a useful tool.  In order to get the loan you must first qualify and many Arizonans don’t have the credit score to meet the requirements.  If you have the means to continue making payments at a reduced amount, debt settlement is a better option.