The Debt Settlement Process
For most Americans, debt is just a part of life. However, a person’s financial situation can change in the blink of an eye, and debt can quickly become overwhelming and unmanageable. Fortunately, there are a number of different options available for dealing with debt. Debt settlement, or the process of negotiating a more manageable payment plan with creditors, is one effective method for some debtors to return to financial freedom.
If you or someone you know is facing overwhelming debt obligations, you should consider the benefits of pursuing debt settlement. Contact the bankruptcy lawyers at the Russell Van Beustring P.C., today at 713-973-6650 to discuss your situation with a qualified member of our legal team and learn more about whether or not debt settlement is right for you.
How Debt Settlement Works
There are a number of different ways in which debtors can pursue debt settlement. However, it is advisable to have an experienced legal professional assist you in this process to ensure that the resulting settlement is legal, fair, and right for your situation. The debt settlement process typically involves:
- Compiling a list of all outstanding debts
- Granting power of attorney to another individual to negotiate debt issues for you
- Saving money for the settlements
- Negotiating the settlement amounts with all creditors
- Paying the settlement amount, effectively discharging debts
With the assistance of a qualified representative, debt settlement may be able to help those with considerable financial obligations return to solid financial standing.
If you or someone you know is struggling with unmanageable debt, a knowledgeable legal professional can help. Contact the Houston debt settlement lawyers at the Russell Van Beustring P.C., by calling 713-973-6650 today to speak with a qualified member of our legal team about your potential options.