Helping Clients Find Debt Relief through Negotiation
Many people in the Tucson area know how overwhelming debt can be. Even the slightest change in circumstances can cause you to fall behind on your payments for a certain debt, and the collection phone calls will soon start – and they will persist. While bankruptcy is a solution for some debtors, it is not always the right debt-relief option. For example, your income may be too high, your debts may be too low, or the debt may not be dischargeable in bankruptcy. Settling for a lesser amount can help many people address their debts without filing for bankruptcy.
If you have unpaid debts, you should discuss your options with a Tucson debt settlement and negotiation lawyer. Contact Yusufov Law Firm to discuss how settlement negotiations with your creditors might be an effective debt-relief tool for you.
How Debt Settlement Works
When a debt is unpaid, creditors will often be willing to accept partial payment to close out the debt. This can be a better option for them than not getting paid at all or having the debt discharged in bankruptcy. Many types of debts can be settled for a reduced amount, including credit card balances, medical bills, and other unsecured debts.
Debt settlement refers to a creditor agreeing to accept less than the full amount you owe, and to report the debt as paid. Often, having your principal amount significantly reduced is all you need to pay off the account. This avoids a possible lawsuit filed by your creditor, which can lead to a legal judgment and possible wage garnishment or bank account garnishment.
There are numerous debt settlement and “debt consolidation” companies that advertise their services to consumers in Tucson. However, these companies cannot provide legal advice, which can be critical because many creditors escalate the matter to civil court.
In addition, an attorney can help you determine whether there are legal defenses to the debt, which can in turn affect the final settlement amount. Attorney German Yusufov has worked directly with many banks, lenders, and collection firms, and knows how each one works when settling debts, and which are likely to have difficulty providing adequate documentation for the debt. He can identify when accepting a settlement offer is not in your best interests and advise you on better alternatives for dealing with the debt. If you would like to learn about debt settlement and whether it is an option in your situation, call for your consultation today.
Contact a Skilled Tucson Debt Settlement and Negotiation Lawyer for Help Today
Having unpaid debts and collection actions hanging over your head can cause immense stress. You do not have to lose sleep at night, worrying how to deal with the constant calls and demands for payment. Instead, discuss your debt-relief options with a Tucson debt settlement and negotiation attorney.
Yusufov Law Firm has helped many people throughout the Tucson community take back control of their financial situation. You can contact us online, or call 480-788-0098 in Phoenix/Mesa or 520-745-4429 in the Tucson area. Do not hesitate to set up your free consultation today.