Kristy Hernandez Office Phone Number

Debt Settlement Can Be A Great Alternative to Bankruptcy!

If you’re drowning in unpaid bills and desperately looking for a way out that does not involve bankruptcy, debt settlement may be right for you It’s a little-known fact that when you fall further and further behind on your payments, creditors would much rather agree to settle your debts than have you file bankruptcy and not get paid at all.

In exchange for an agreed-upon one-time payment — typically, between 20% and 75% of what you owe — the creditor forgives the rest of your debt and starts reporting it to the credit bureaus as settled. Meanwhile, you’ll need to put money aside toward the settlement and stop making payments to your creditors. On your credit reports, the balances of settled debts will show $0. However, any previous history of delinquent payments or charge-offs will remain on your report.

Not surprisingly, creditors don’t like to advertise debt settlement. They also make it an extremely difficult solution to pursue. As a rule, creditors won’t negotiate with consumers who are current on their bills, often refusing to discuss settlements unless you’re at least three to six months behind.

Our office provides a free consultation for all clients thinking about doing debt settlement. At the appointment, we can estimate what are likely settlement amounts based on your debt situation, and advise you of the costs for those services. To learn more about debt settlement, contact our office to set up an appointment to speak with the attorney.


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