What is debt settlement?
You have probably seen the television ads and heard the radio commercials in Atlanta advertising various companies ready to take your money to reduce your debt. Many times these debt relief companies are scams and run by con artists or, at the very least, disreputable credit agencies promising more than they can deliver, in an effort to lure desperate families. Some companies advertise debt consolidation, others debt settlement, but a majority of them make claims they can get you out of debt without any effort and in very little time. None of them are led by attorneys who focus on debt. These companies do everything through websites and over the telephone, and you don’t ever get a chance to meet with someone in person.
For a law firm that has real answers and offers real solutions to people with financial problems, these outrageous claims are frustrating. Our staff is compassionate, empathetic, and never judgmental, and McCarthy Law helps people every day in Atlanta that are in the same situation as you and burdened by overwhelming debt. Reducing your debt with debt settlement (also known as debt negotiation, debt relief or debt reduction) is an often overlooked solution in getting real debt help because so many don’t know it is an option. Many are under the assumption bankruptcy is their only real way out. When you enter into a debt settlement program, your debt attorney negotiates your debt with a creditor so that you pay off significantly less than what you previous owed. In addition, we negotiate payment terms that can work with your current financial situation.
With our debt settlement program, you make one monthly payment into a savings account, and an attorney handles everything else, including all phone calls and communications with your creditors and debt collectors. Once a debt is settled, the attorney will receive written confirmation, then arrange for payment to be sent to the creditor from the client’s trust account. We would love to help you understand all of your options so you can make the best decision possible for you and your family.
The Personal Touch
McCarthy Law does business the old fashioned way, by inviting you to meet with an attorney face-to-face to talk about your situation prior to engaging the firm. We want to make sure we can help save you a significant amount of money. We are paid from a portion of the savings we obtain for you, rather than requiring you to pay all fees up front, like many other programs and law firms do. And, we charge a flat fee, not by the hour or by the account. We understand your finances are tight and you probably can’t afford to pay an attorney up front. A majority of debt settlement companies work the entire process through websites and phone calls, rather than in person, and you never have the opportunity to meet with someone face-to-face. Meeting in person gives us a chance to address all of your concerns and questions in a confidential environment and let you see how much we are committed to helping you. We believe you should feel comfortable with those handling your financial future, and it is nearly impossible to build a relationship with people over the internet.
What Types of Debt Can Be Settled?
Unsecured debt makes up the majority of what we negotiate.
- Credit Card Debt
- Private Student Loan Debt
- Personal Loans
- SBA Loan Debt
- IRS Tax Debt
When is the Right Time?
If you are having a difficult time making your minimum payments, having trouble sleeping, or have basically the same balances today as you did a year ago, the time is definitely now. Our Atlanta attorney’s understand the struggles facing the good people of Atlanta and will take a personal interest in your situation. Whether you are struggling with credit card debt, or student loan debt we can represent you and negotiate in your behalf to decrease your debt. Our attorneys will take the time to meet with you and discuss your options and create an individual plan that will work best for you and your family. You are not alone and we want to make sure you understand all of your options before making a decision.
How a Debt Attorney Can Help You:
- Avoid Chapter 7 and 13 bankruptcy
• Reduce your interest rates
• Avoid foreclosure
• Stop the harassing collection calls and letters from creditors and collectors
• Negotiate your unsecured debt
• Minimize your monthly payments
Can I Afford It?
A non-lawyer can’t help you if you are sued, and a good, experienced debt attorney will cost less, and offer real legal protection against lawsuits and creditor attorneys. If you compare our fees to non-attorney companies who claim to offer similar services, you will find that an experienced attorney will save you far more money than he will cost you and get much better results. Debt challenges can quickly become legal challenges and non-lawyers simply aren’t capable of legally representing you, so you have to withdraw from their program and find an attorney. Signing with McCarthy Law means no more minimum payments to each creditor and no more interest and finance charges. If you get sued in the process, we will handle your case from beginning to end, and it will not affect the program you are already in, so there is not a break in your progress. In fact, a debt settlement attorney often costs less to completely get rid of your debt than the interest you currently pay in one year.
What if I do Nothing? Or the ‘Denial Plan’ or the ‘No Plan, Plan’
Denial is your biggest enemy, and choosing to ignore your increasing problems generally leads to bigger issues. The longer you wait, the fewer options you will have, and the more options your creditors will have. We have seen clients who are so overwhelmed they have completely stopped opening their mail because being reminded of their debt each month is just too much to handle and the stress and anxiety of their circumstances is more than they can deal with. Ironically, hope for a brighter future often works against those who believe things will get better even though their circumstances have not changed in a very long time. Many people continue to wait for brighter days like waiting for the raise or the bonus that never comes or is needed elsewhere when it finally does come. Not having a plan year after year is in fact a plan in itself. It’s just not a good one.
How Long Will it Take?
Clients on the McCarthy Law program are typically out of debt in 6 – 36 months, which is only possible when the outrageous interest is turned off and the balance is drastically reduced. Credit card companies are now required by law to show how long it will take to pay off your balance. The number of years shown on your monthly statement is based on making the minimum payments on your current balance at your current interest rate. It is not uncommon for us to see statements that have 15 years or more, which is incredibly depressing and nearly impossible to actually achieve. And, it doesn’t take into account any future purchases, or an increase in interest rates if you miss a payment, or make a late payment. For those who have been buried for years in debt and have been paying their minimums without seeing much progress, 6 – 36 months is exciting and you will make real headway on your debt quickly, which is very motivating.
Let McCarthy Law provide you with your options and is ready to help and put you on the path toward debt relief. You can contact us by phone, chat with us, or fill out the form above to get started. We’d love the opportunity to work for you and help you become truly debt free. Whether you need help with credit card debt help or have other types of debt we can reduce and negotiate on your behalf. Call us today!