Chicago Debt Settlement

Don't Let Debt Get You Down

Owing large amounts of money can make life difficult, to say the least. Not only do you have to cope with the financial hardship of devoting large portions of your paycheck to meeting your loan payments, but you may also have to put up with incessant phone calls and letters from your creditors when you are late or miss a payment. To make matters worse, when you do miss a due date you will usually end up being hit with harsh late penalties and finance charges, which only add an additional burden to your already strained finances. As long as you continue to pay only the minimum monthly amount, a large share of your payment will be going to interest rather than the principal. It may seem like there is no way out. Fortunately, you may have an option for putting an end to your problems with debt, so that you can get your personal finances back under control and begin enjoying your life more.

Understanding Debt Settlement in Cook County

Whiteman Borden, LLC can represent you in debt collection litigation and help you negotiate a settlement. You will no longer have to take the calls from the credit card company or other lenders, but will instead be able to refer any requests for contact to our office. We will be on your side, advocating on your behalf and working to negotiate a favorable settlement that allows you to get out of debt quickly. The basic strategy involved in debt settlement is to cease paying on the debt instead saving your money to make a single lump sum payment. While you work on putting together your payoff fund, we engage in negotiations with the creditor to persuade them to accept a payoff for less than you currently owe. Discover the do's and don'ts of debt settlement before you begin the legal process and contact our Chicago debt settlement attorney right away to receive the assistance you need.

Retain a Chicago Debt Settlement Lawyer to Negotiate for You

After months or years of struggling to faithfully pay on your debts, you may find it shocking to learn that the lender might be willing to let you off the hook for a reduced amount. Make no mistake: most lenders will not agree to a proposed debt settlement gladly. It usually takes aggressive and skilled negotiation and an exhaustive understanding of applicable laws. For example, we can investigate the case to find evidence that may make it possible for you to dispute the debt. In cases where the debt has been sold to a collection agency or a debt buyer, the debt collector may not have enough documentation to prove that you actually owe them anything at all, which opens the door to relieving you of the burden to pay entirely.

If the original creditor still holds the debt, it is often possible to compel them to accept a settlement by making it clear that they stand to lose the entire amount if you are prepared to declare bankruptcy. Even debt collectors who have sufficient documentation to prove their case in court can frequently be persuaded to accept a settlement offer on the grounds that it would allow them to receive some amount of payment without the necessity of engaging in expensive pursuit and litigation to get you to pay. This approach is not right for everyone, but you can contact our firm now for a free case evaluation to discuss your individual situation and to learn more about your options.