Debt settlement is an alternative to Bankruptcy and is a service that is offered by the Law Offices of Brent D. George. For those who either cannot file a Bankruptcy, or do not wish to file a Bankruptcy, debt settlement can provide relief from debt. Debt settlement requires negotiation with the creditors to attempt to settle the debt for an amount that is less than is owed. As a licensed attorney who has filed hundreds of Bankruptcy petitions, Brent D. George uses the bankruptcy code, and the threat of a potential bankruptcy, as leverage to force the creditor to accept less than it is owed. Without that leverage a creditor has no motivation to agree to compromise on what it thinks is owed. Creditors are typically interested in compromising on a debt when it fears that the entire debt could be wiped out in a Bankruptcy.
Debt settlement can involve an agreement where the creditor accepts a one-time lump sum payment to resolve a debt. In other instances a monthly payment plan agreement can be worked. It depends on what the client is capable of doing and what is in the best interest of the client. Either way it is essential that a written agreement is prepared and signed by the creditor prior to any payment being made to the creditor. That way the client is fully protected at all times.
At the Law Offices of Brent D. George we are always looking out for our clients and strive to protect them at all times. Feel free to reach out to us if you would like to discuss debt settlement as a possible option by calling 805-494-8400 or you can email Brent D, George at Brent@BrentGeorgeLaw.Com.