We help clients facing creditors who have valid judgments to determine if reasonable solutions can be attained in which your debt could be settled for less than the amount owed in a way that keeps you out of bankruptcy, but removes the threat of garnishment, collection letters, collection calls, court notices and process servers at your door.
Many creditors would prefer to settle a debt for less rather than spend countless funds chasing a debt through the maze of the litigation process, which could ultimately be discharged in a potential bankruptcy.
Some of these settlements can be for literally pennies on the dollar. We are a law firm that helps our clients navigate these difficult and often confusing waters toward solutions that work.
We have settled hundreds of thousands of dollars in debt and have the experience to help you.
Settlements do have tax consequences — you must report any settlement as income — and not all creditors will consider settlements, but they are a great way to resolve the issue for a lot less than what the creditor was originally seeking — and avoid bankruptcy.
Some of our clients prefer to resolve a debt issue by having time to pay off their debts in a fair and reasonable monthly payment that often can avoid interest. We have experience dealing with billion-dollar corporations as well as the U.S. Department of Justice in our creditor negotiations to help achieve that goal.
While paying the full amount back is not as good for one client as settling the debt for less, for another client, what matters most may be restoring your credit rating and credit score. A debt settlement or a bankruptcy would likely not help that much in the near term, but a negotiated payoff might.
Depending on your goals, a negotiated settlement for the full amount may better suit your needs than a settlement.
Understand this: Big banks, the U.S. government and large creditors are very sophisticated entities and hold a far better hand in a negotiation that a typical debtor, on their own would ever be able to match. With our experience, which involves helping clients from all over Maryland, we help even the playing field and give you much better odds of getting a result that works.
While we can never guarantee a specific result, we guarantee to you that we will work hard and diligently to give you the best representation we can, putting your needs and your goals number one in how we proceed.
Contact Us For Our Legal Advice And Services
To learn more, schedule a free initial consultation with our bankruptcy attorneys. Email us or call 410-244-5068. We will not collect fees until we obtain compensation for you. We are prepared to help anyone living in Maryland. Our main offices are in Baltimore and Ocean City, and we have satellite offices in Bel Air.