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Debt Settlement

If Bankruptcy doesn’t fit your financial goals, you still have other options to eliminate your debts. Debt settlement could be a way to solve your debt problem without Bankruptcy. 

What is the difference between Debt Settlement and Debt Consolidation? Debt settlement occurs if a creditor agrees to accept less than the total balance to consider a debt “paid in full.” In theory, Debt consolidation combines your debts into a single payment every month. However, consolidation usually involves getting a loan to settle these debts at a discount.

But this is the catch – companies that offer “debt consolidation” aren’t Loan companies. Your state government licenses Loan companies, and this business is highly regulated. However, debt consolidation companies do not want the government to look at them too closely. So instead, they offer debt settlement which they disguise as debt consolidation. This sleight of hand has several devious purposes – to make them more money, to hide from being responsible to their customers, and to make repaying your debts impossible. You are led to believe your monthly payments go to pay your bills. But instead, your payments pay the “debt consolidation company’s” fees. Debt consolidation companies don’t begin negotiations to repay your debts until you fully pay their fees. They only put your payments aside to save enough for a settlement. As a result, people often make payments for years, but nothing is paid to their creditors. So, your credit report shows that you have defaulted on your debts, so your credit score tanks. While this is happening, these debt consolidation companies are doing nothing to earn their fees, which are often many times higher than the fees a licensed attorney would charge.

How Can Debt Settlement work?

Debt settlement works because collecting is difficult and expensive if someone doesn’t voluntarily pay. As a result, a skilled negotiator can negotiate terms to eliminate debts at a discount. Depending on the circumstances, your savings might be modest or substantial. Debt settlement is a good option for someone who can pay part of their debts but struggles to get on top of all of them. In addition, this settlement offers the advantage of letting you overcome debt struggles without having to disclose your financial circumstances publicly.

Each method of debt relief has advantages and disadvantages. So at A Fresh Start, we recommend you keep an open mind and consult a debt settlement lawyer who thoroughly understands bankruptcy law. At A Fresh Start Law, Attorney Dorothy Bunce can answer your questions so that you understand your options before you make this decision.

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Can All Debts Be Taken Care Of With Debt Settlement?

No, Debt Settlement only works if a creditor agrees to settle. No one, not even a Judge, can force a creditor into settling. So, of course, debt settlement involves some risk. At Vegas Debt Solutions, our debt settlement attorney, Dorothy Bunce, in Las Vegas, NV, believes you should understand your risks and limit them whenever possible. But we know the most common creditors and debt collectors and have worked with them in the past. And we have a modest retainer fee. We don’t earn our fee until we obtain the results you want. Also, we don’t require you to give us your settlement funds until we have a settlement agreement. Although some clients ask us to do this, it isn’t required.

Is Debt Settlement a Good Idea?

Before deciding whether to settle your debts, you have several issues to consider. Are your goals realistic? While Debt Settlement works for many people, it isn’t appropriate for others. This settlement will only be successful if there has been a careful evaluation of your financial circumstance. Reach out to an experienced this settlement lawyer, such as Dorothy Bunce of Vegas Debt Solutions in Las Vegas, to receive an objective analysis of your debt settlement options.


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Advantages of Debt Settlement.

  • Stops creditors and collectors from harassing you.

  • Avoids Bankruptcy.

  • Could reduce your debt.

  • Keeps your financial information private.

Disadvantages of Debt Settlement.

  • Creditors may refuse to negotiate.

  • Because of interest and late payment fees, you may have more debt.

  • Your credit may see a negative impact.

Speak with a skilled debt settlement lawyer at A Fresh Start Law today.

We negotiate with your creditors and find the solution that works best for you.

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Is Debt Settlement Right For Me?

Your chance of success will increase if you hire an attorney who knows the ropes and knows those working for your creditors. Is debt settlement the ideal option to get your debt under control? Before answering, at A Fresh Start Law, we will first analyze your circumstances. If you are not likely to be able to afford to settle your debts, we will tell you this. If you expect unrealistic results, we will also explain why. Choosing this settlement is an important decision. Because one size does not fit all, the team at A Fresh Start Law suggests considering many factors before making a final decision.

Types of Debts All debts are not equal, Some debts are more urgent than others. At Vegas Debt Solutions, we solve debts such as:
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  • Credit Cards
  • Medical Repossessions
  • Court Judgments
  • Student Loans Solutions
  • Foreclosures
  • HOA- Home Owner Association
  • IRS & other Taxes
  • Business Debts
  • Accidents & Insurance Problems
  • Landlord/Tenant Problems
  • Solar & Water Treatment Liens