Orlando Debt Settlement & Relief Attorney

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If you are struggling to pay your bills each month, you may want to consider pursuing an out-of-court settlement agreement with your creditors rather than filing for bankruptcy or taking other action. Out-of-court settlement agreements are legally binding contracts between you and your creditor. Debt settlement agreements in Florida can reduce the amount of money you owe, extend the time you have to repay, and lower your interest rate.

Are you interested in finding out more about debt settlement and relief – and whether it could be a good option for building a better financial future? The experienced Orlando debt settlement attorneys at Florida Law Advisers, P.A., are ready to listen to you, analyze your situation, and map out the best path forward for you.

Contact us now for a free and confidential consultation that comes with no further obligations on your part. Our mission is to provide stress-free, cost-effective results for you. Start now to build a better tomorrow – one without unmanageable debts and worries about creditors.

What Is Debt Settlement?

Debt settlement happens when a creditor agrees to accept less than what is owed on an account to fully satisfy the debt and make it go away. It could involve waiving late fees and interest, as well as reducing the principal amount owed. Creditors are generally not required to offer nor accept a settlement proposal. However, many lenders will accept settlement offers and even encourage borrowers to settle past-due accounts.

Debt settlement negotiations can be a very helpful tool for financially struggling families in Orlando and throughout Florida. However, it is important to have legal representation when negotiating with your creditors to prevent any unwanted consequences. Your creditors will likely have a team of attorneys working to protect them. You should have a skilled attorney on your side protecting your rights.

In most cases, you will be required to sign a settlement agreement. These agreements can be difficult to understand and have hidden penalties that only an experienced attorney can identify. By working with Florida Law Advisers, P.A., to negotiate out-of-court debt settlements, you can be confident your rights are protected and you are getting a fair settlement.

How Does Debt Settlement Work?

Most people who consider debt negotiation have fallen significantly behind in payments on one or more debts. In some cases, the debts may have already gone into collections, and the creditors or their debt collectors may be harassing you for payment. Someone who is thinking about debt settlement options probably has no reasonable way to manage the debt and pay it off based on their current income and overall financial situation.

Because creditors are concerned that you will not pay anything on an unsecured debt – like credit card bills, personal loans, and hospital bills, among others – they may be willing to work out an arrangement where you agree to pay something back, but not the full amount owed. Debt settlement typically isn’t an option for secured debts like car loans and home mortgages, though mortgage loan modifications and other alternatives to foreclosure could be available. Although they are not secured debts, federal student loans are another special situation.