Debt Settlement Programs – Arizona Bankruptcy Lawyer

Debt Settlement is a procedure of negotiating with your creditor to settle the principle balance and interest rate on unsecured debt accounts. This type of debt relief is often much different than Debt Consolidation and Credit Counseling, which don’t deal with the debt balance at all. These types of debt relief options are used by consumers all over the country to reduce their debt and get out of debt for good.

The debt settlement company in Arizona realize that many people simply do not have the funds to pay their creditors in full. The creditor’s goal is to recoup as much money as possible from a borrower, so they often settle the debt for less than the outstanding amount. You will be asked to make one large payment to the debt settlement company, which they then distribute to your creditors. They will typically charge you a retainer fee for handling your case, but this is generally minimal. In many cases, you will receive a check in the mail for a smaller check that will be used to pay your creditors one by one.

Debt Consolidation is a debt relief option that is similar to a debt settlement, except for the fact that you are required to make one larger payment. This payment is typically lower than the amount you would pay if you settled, because the consolidation company pays your creditors directly, and the companies they owe money to are more likely to settle than they are to file bankruptcy. However, if you owe several thousand dollars in debt, and you are trying to get debt relief in Arizona, you should seriously consider consolidation.

If you decide to settle your debts, there are several types of debt relief you may qualify for. There are two types of debt settlement – debt negotiation and debt consolidation. A debt negotiation company can help you settle your debts by negotiating with your creditors. With debt negotiation, your creditors agree to accept less than what you actually owe, in order to settle your debt quickly and get it over with. Your credit counselor will negotiate on your behalf, using the information they have about your financial situation to reach an agreeable settlement. You will have to pay the agreed upon amount, but it is usually less than you would have owed, and you will not have to file bankruptcy.

If you choose debt consolidation, your credit counselor will contact all of your creditors and request that they accept a debt consolidation loan for paying your unsecured debt. The debt relief agency will then use the funds you pay to pay off your creditors. Each month, your approved lender will distribute a specified amount of money to your creditors. The process of debt consolidation is similar to settlement, and you will need to hire an authorized partner to help you through the legal proceedings.

There are many debt relief options available in Arizona. Legitimate companies are available to help you settle your debts, and there are also Arizona bankruptcy lawyers that specialize in this field. Before hiring an attorney, be sure to check his or her experience, reputation, and certifications. Hiring an experienced debt relief expert from will help you achieve the results you need, and keep you out of bankruptcy.