Debt Settlement Lawyers in Jacksonville, FL
Debt settlement is a powerful and effective method to resolve your debts for less than you owe, in order to get your financial situation back into a manageable condition and move forward with your life. While it may seem like an easy decision to make at first glance, there are a lot of different factors that you will need to consider before you move forward with this possibility. One of the best ways to ensure that you have considered all options and are choosing the best one for your situation is to work with an attorney who can help you through this whole process. An attorney experienced in bankruptcy and debt settlement can help you determine which is best for you.
Take a look at some of these very important questions when it comes to deciding whether or not this is the appropriate solution for your own financial needs, and contact our firm as soon as possible in order to begin working with an experienced debt settlement attorney today.
Is Debt Settlement a Good Idea?
There are certain instances where debt settlement is a good option, but the specific answer to this question depends on a variety of different factors that we will need to discuss. In some cases, filing for bankruptcy may be the more prudent approach to your debt, or we may be able to identify a different solution entirely. Gahanian Law will ask you about your other debts and your ability to repay this debt to help you make the decision.
Debt Settlement and Negotiation
Whether you are attempting to negotiate some debts or all debts that you are currently struggling with, you will need to develop a strategy and goal for each of these negotiations that you will go through. Since you are opting to settle debts directly instead of filing for a bankruptcy, you will have to work with the creditors in order to find a solution that works well for both of you, and ultimately leaves you in the position that you are hoping for.
Debt Settlement Pros and Cons
Settling your debts can provide you with enormous relief for your financial circumstances, but it is important to recognize that there are a variety of drawbacks when you choose this path, too.
The Pros of Debt Settlement
- You may be able to avoid filing for bankruptcy
- You will be able to stop getting so many calls from debt collectors
- You will regain control over your financial situation
The Cons of Debt Settlement
- You need liquid cash to negotiate with
- There is nothing that compels a creditor to work with you
- Your credit can take a significant hit
- It can be overwhelming to deal with each creditor and collection agency individually.
Contact Us Today
If you are struggling with debts and trying to understand your best options to get out of this situation, contact the team at Gahanian Law as soon as possible. During your free initial consultation, you will be able to speak with an experienced bankruptcy attorney and get direct feedback and guidance on your situation while understanding how we can help you.
Jacksonville, FL 32257
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