Debt Negotiation

Sometimes, debtors do not wish to go through the process of bankruptcy in order to resolve their financial troubles. Many times, this is because they are afraid of the ramifications associated with having the red mark of bankruptcy on their credit reports.

Fortunately, if you are wishing to avoid filing for Chapter 7 or Chapter 13 bankruptcy, there is an alternative option available to you: debt negotiation. During the debt negotiation process, a third party speaks and negotiates with your creditors in an effort to make your payback plan more achievable. Both debt negotiation and bankruptcy lawyers can help you with this process.

Watching Out for Scams

While debt negotiation may seem like a reasonable – or even great – alternative to filing for bankruptcy, you need to remember to be very careful when selecting this course of action. There are a number of debt negotiation companies that offer to help debtors, but, regrettably, many of them may actually do more harm than good. Many of these companies offer fraudulent services. As a result, you pay them your money, but none or only some of it goes to your creditors, leaving you in a worse standing than before.

If you decide to use debt negotiation to help you resolve your finances, then you should enlist the help of an experienced and trustworthy debt negotiation attorney. This way, you know the exact standing of your debts and exactly where your money goes when you pay it.
 

Contact Us

If you are in debt and would like to explore the option of debt negotiation as a method of resolving your financial situation, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC today at (205) 324-4000. We can assess your situation and help you decide if debt negotiation is the right option for you.

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