Debt Settlement Steps

I have worked with many clients who choose to avoid bankruptcy by attempting to settle with each of their creditors. When this road is attempted for unsecured debts it is best to have a plan of which creditors will be approached first and what is the total amount of available capital that can be used to settle with the creditors. I suggest dealing with them in stages depending on the size and importance of each creditor. I have been able to settle debts for clients from just a few thousand dollars all the way up to clients who have had 500k in unsecured debts. Typically we have used this to avoid bankruptcy and many times it works very well if the client has assets that they do not want to expose to a bankruptcy filing. In many cases I have settled unsecured or credit card debt for between 20-40 cents on the dollar owed. So do a good assessment of what is your situation and then consider if you have resources to attempt to do settlements and if so either attempt to contact the creditors yourself or hire an attorney to do the negotiating for you. If you use a attorney its best to get a referral and to find out the cost of such service up front if possible. 810-245-0813