What is Debt Negotiation?

Being in debt can take a serious toll on your ability to enjoy life. You spend your time worrying about money rather than enjoying yourself, you are limited in your ability to afford the things you want and find a large percentage of your income going to loan payments. At the Law Offices of Marshall D. Schultz, we understand what a negative impact your debts may be having on your life, and we believe that you deserve a fresh start.

We have filed over 10,000 consumer bankruptcy cases, and with more than 50 years of combined experience we know what a major difference it can make for an individual or a family to get out of debt. If you want to avoid declaring bankruptcy, we can still help you resolve the situation.

When you borrow money, you sign an agreement that you will pay it back under certain terms, and you are legally bound to abide by the agreement. Fortunately, the terms of the debt are not set in stone, and it is often possible to negotiate a new arrangement. With the recent economic upheavals in our country, creditors are anxious about losing money to default or bankruptcy, and many are willing to accept a smaller amount from the debtor rather than be forced to write off the entire loan.

Understanding Your Options

Simply calling the credit card company and asking for a lower monthly payment usually will not work, as the creditor is accustomed to receiving numerous similar calls every day. By having a qualified lawyer from our firm contact them on your behalf, you will be making it clear that you are ready to fight and that you are serious about negotiating a new agreement. This type of action usually results in a lower interest rate or a reduced balance, with the result that you have a smaller monthly payment. You will be able to pay the debt off sooner and with less stress in the meantime.

Contact us today for a free consultation or schedule a visit to come meet us at one of our convenient office locations in Detroit or Southfield.