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Debt Settlement
Dealing with debt can be incredibly challenging. Whether it's due to job loss, illness, or other hardships, being burdened by overwhelming debt is never easy. However, there is a solution that can help alleviate your financial struggles - debt settlement.
At Orr Legal, we specialize in providing exceptional debt settlement services. While there may be others offering similar services, it's important to be cautious as there are many scam artists out there who will take your money without fulfilling their promises. When you choose to work with us, you can rest assured knowing that you are working with a reputable consumer protection and credit defense attorney.
As a law firm, we are held to a higher standard compared to other providers. Our team has years of combined experience in negotiating debt settlements, making us well-equipped to handle your case. If you find yourself receiving constant calls from creditors or facing the risk of defaulting on your debt, it's crucial not to delay. Reach out to us for a complimentary consultation. Once you become our client, you can have peace of mind knowing that relief from your debt is on its way.
What is Debt Settlement?
Debt settlement involves paying your creditor an amount lower than your total debt, resulting in the remaining balance being eliminated. Having sufficient funds available for a lump sum payment can help secure favorable terms, but some creditors may also provide discounts through structured payment arrangements. The possibility of settling your debt ultimately hinges on your individual situation.
The process of debt settlement involves negotiating with creditors to repay less than the total amount owed. Eligible debts for settlement include credit cards, medical bills, personal loans, retail cards, payday loans, cash advance loans, auto loans post-repossession, and private student loans.
Secured debts cannot be settled as the creditor can seize assets. For instance, defaulting on a mortgage can lead to foreclosure and asset auction. However, in some cases, you may still owe money even after asset seizure, which could also qualify for settlement.
While unsecured debts like credit cards are open to settlement, creditors may refuse and opt for legal action. Nonetheless, many creditors agree to settlements as receiving partial payment is preferable to nothing if the debtor faces bankruptcy.