DEBT NEGOTIATION

Debt negotiation is an often excellent pre-bankruptcy option that will help you get out of debt for substantially less than what you owe.  Creditors are often willing to negotiate a reduced balance for your debt if they are reasonably sure they will actually be paid on this reduced balance.  If you are in over your head with debt but aren’t quite sure you want to file for bankruptcy, contact the Law Offices of Simon P. Kennedy, PLLC, to schedule a free initial consultation.

SEE ALSO INFORMATION ON:

CHAPTER 7 BANKRUPTCY

CHAPTER 13 BANKRUPTCY

Debt negotiation is often a good idea for certain people, but does not work for everyone.  It is a realistic strategy for those individuals who, by the nature of their work, are judgment proof, and because of that can continue to negotiate with creditors to reduce the overall amount of their debt.  These types of people are generally self employed or live on a fixed income or earn their living in a way that makes it difficult, if not impossible, for the creditor to garnish the wages of the debtor.

Also, debt negotiation is great for people who don’t need to file for bankruptcy and just need some relief from generally the high interest/high balances of credit card debt or other types of unsecured credit (store credit accounts for example).  These people usually have some asset against which they can borrow or family members who can lend them money to pay off a negotiated balance in full.  For these people debt negotiation is an excellent way to reduce their overall debt, get a fresh start, and find relief from the stress of having bills that can’t get paid off of their minds.

Sometimes, however, creditors will file a lawsuit to secure a judgment against you for the unpaid balance of your debt (including interest and attorneys’ fees) and either seek to garnish your wages or protect their judgment against you in some other way.  For people who are truly judgment proof, this is not usually a problem, but for other individuals, Bankruptcy may be your only option to avoid wage garnishments and or liens against your property.

While we cannot guarantee the outcome of any particular debt negotiation, we generally find that this option produces excellent results for people who, otherwise, would not have to file for bankruptcy.  Contact the Law Offices of Simon P. Kennedy, PLLC, to set up a free consultation to discuss whether debt negotiation is the best option for you.  As always, are flat fees are reasonable and payment plans are accepted.

The Law Offices of Simon P. Kennedy, PLLC is a debt relief law firm providing clients debt relief services and/or bankruptcy to clients in the greater Phoenix area, including, Phoenix, Tempe, Scottsdale, Chandler, Queen Creek, Glendale, Mesa, Gilbert, Peoria, Sun City, Avondale, and Tolleson.  We also provide bankruptcy and debt relief services in Pinal County, Coconino County, Yavapai County, Prescott, Flagstaff, and Yuma.

The Law Offices of Simon P. Kennedy, PLLC, is a debt relief agency and helps clients reduce and liquidate client debt through debt negotiation and bankruptcy