Debt Settlement

Professional Debt Settlement Lawyer

Life is a series of partnerships formed to ease our way through challenges. Just as the right partnership can pave the way for personal or professional success, choosing a partner in your journey towards financial freedom can significantly lighten your load. This is where our debt settlement attorneys come into play, aiming to simplify the debt settlement process and lead you down a path toward the outcome that suits you. With debt negotiation support and a breakdown of all legal options, trust McCarthy Law to highlight your path forward. 

Debt Settlement — How the Debt Settlement Procedure Works 

Plenty of honest, upstanding people face difficult financial situations in the current economy. From personal loans to private student loans, there are many things that can leave you in financial turmoil. Bankruptcy is a solution that works for some, but it is not the right solution for everyone seeking a way out of overwhelming debt. Even without incurring new debt, paying off existing accounts can mean years or decades of paying the debt and the continuing high interest charged.

Learning how to eliminate credit card debt begins with a free consultation and an experienced debt settlement attorney reviewing your situation. At our law firm, we offer free consultations for people looking for workable solutions. There is no pressure at McCarthy Law. There is no blame assigned. Our lawyers and paralegals listen with respect and concern in all discussions about your debts and the solutions you have open to you. Sometimes, the answer may be debt settlement, but in others, you may need to look deeper into other options like bankruptcy.

When you experience debt settlement with McCarthy Law, you will experience the following:

  • An experienced debt settlement law firm will review your current financial situation, including your income, real estate, and other assets.
  • We will analyze your current budget needs and income to determine what you owe and what you can afford to pay.
  • If you have significant unsecured debt and the financial means to settle, you can choose to engage our debt settlement services
  • We will quote a reasonable flat fee based on the amount of your debt.
  • We will set up a payment plan through which you will put aside settlement money.
  • Our law firm will send letters to your creditors, telling them we will represent you and handle all further contact.
  • You will never again need to talk to your creditors; we will handle all communications.
  • Our team of attorneys and paralegals will establish a dialog with your creditors and negotiate a settlement.

The debt settlement process, from start to completion of the settlement, can take as little as six months to as long as four years.

The Difference Between Debt Settlement, Debt Consolidation and Bankruptcy

When faced with financial difficulties, it’s important to know your options.

Read More

Debt settlement involves negotiating with creditors to pay off a debt for less than what is owed. This route can relieve those with unmanageable, unsecured debts by reducing the overall debt owed.

Debt consolidation combines all debts into one new loan with, hopefully, a lower interest rate. This consolidates monthly payments and can help pay off debt faster. However, good credit is required to obtain favorable terms.

Bankruptcy should be considered a last resort. It can offer a fresh start but has significant consequences, including a lasting impact on your credit score. Each option has its place depending on individual circumstances, and legal representation can help you make an informed choice.

What Is a Reasonable Offer to Settle a Debt?

Negotiating debt settlements is more art than science. A reasonable offer typically ranges between 30% to 80% of the outstanding debt. Several factors influence this, such as the age of the debt, your financial situation, and the creditor’s policies, so you can’t know for certain what the right kind of offer is. But a reputable lawyer can cover all the bases for you. McCarthy Law will assess your specific circumstances to propose a fair offer that reflects your ability to pay while striving for the maximum reduction of your debt load.

Is Debt Settlement Worth it?

Deciding if debt settlement is worth it involves weighing the immediate relief of reduced debt against potential impacts, like temporary credit score dips and possible tax implications on forgiven debt amounts. For many, the chance to avoid bankruptcy and reduce unmanageable debt is worth these considerations. It’s about taking back control of your finances, with the attorney-client relationship providing guidance and support throughout this challenging process.

How Do I Know That I Need a Debt Settlement Attorney?

If you’re pondering over needing professional help with your debts, consider these questions:

  • Are you struggling to make minimum payments on unsecured debts?
  • Have you considered bankruptcy but want to explore other options?
  • Are you overwhelmed by dealing with multiple debt collection companies?
  • Do you lack the experience or knowledge to negotiate with creditors effectively?
  • Are medical bills part of your unsecured debts causing financial strain?

If you answered yes to any of these, seeking legal representation could provide the direction and assistance you need to manage and settle your debts.

We Help Settle Debts in Phoenix, Texas, and Florida

McCarthy Law is committed to assisting individuals nationwide, including those in Phoenix Metro, Texas, and Florida, in resolving their debt-related challenges through effective legal counsel. We focus on building a solid attorney-client relationship that positions you for a better financial future. We understand the laws and bring a proven track record of successfully negotiating debt settlements that align with our client’s needs. Speak with us today about all your debt-related needs, including debt consolidation, credit reporting errors, payday loan debt, and more.

How Do You Start with Debt Settlement?

For those across the country, including those in Phoenix Metro, Texas, and Florida, looking for compassionate, knowledgeable legal representation to assist with debt settlement, we invite you to consider making McCarthy Law your partner.

Call us now for a free debt consultation. There will never be any pressure or obligation to engage our services at McCarthy Law PLC, but you will leave the consultation with an understanding of your options for getting out of debt. If business debt or personal debt has grown unmanageable, talk to an experienced lawyer about negotiating a settlement. Give us a call today or contact us now for a free consultation.

Get More Information