Debt Negotiation Could Be An Effective Bankruptcy Alternative

Bankruptcy is a powerful legal tool, but it is not desirable of appropriate for everyone struggling with debt. There are times when problems could be resolved by negotiating with creditors with the help of an experienced attorney.

If you are facing debt problems in Pennsylvania but are reluctant to consider bankruptcy, contact The Law Offices of Everett Cook, P.C., to discuss debt relief alternatives such as debt settlement or negotiation. Firm founder Everett Cook is a veteran attorney with more than 20 years of experience advocating for clients facing financial hardship. He has earned a reputation for his honesty and transparency, as well as his effectiveness both in and out of the courtroom.

How Does Debt Negotiation Work, And Who Could Benefit From It?

Instead of initiating bankruptcy proceedings, Mr. Cook can help you contact creditors and negotiate ways to resolve your debt issues on a case-by-case basis. Sometimes this means negotiating a much lower balance and paying the new balance in full. Other times, it could mean negotiating a manageable repayment plan with better terms than you could likely achieve on your own.

An ideal candidate for debt settlement is someone facing short-term financial difficulties and who is having problems with just a few creditors (as opposed to all of them). You may consider debt settlement as an option if you believe you could repay debts with either smaller balances or with better repayment terms. Debt settlement may also be your only option if you cannot file for bankruptcy because you have already filed Chapter 7 within the past eight years.

Will Creditors Be Willing To Negotiate?

You might have already tried contacting creditors on your own only to be told that they weren’t willing to make any concessions. Why would they be willing to negotiate now? While creditors aren’t legally obligated to accept a debt settlement proposal, there are three primary reasons why many of them will.

First, you have hired a lawyer, which shows that you are serious about resolving your debt. Second, if your lawyer is Everett Cooper, he has strong negotiation skills based on more than two decades of experience in bankruptcy and debt relief law. Finally, when creditors learn that bankruptcy may be in your future, they are typically willing to make a deal rather than risk not getting paid at all.

Caution: Debt Settlement Companies Can Be A Scam

There are many companies advertising online or calling consumers directly and offering to help them settle their debts with creditors. Unfortunately, many of these companies are run by scammers. Some are legitimate and helpful, but others take your money while failing to solve your problem (or actually making it worse). Additionally, many of the services offered are things you could easily do yourself.

No attorney can guarantee success, but working with a reputable lawyer like Mr. Cook is much safer than hiring an unknown company that makes big promises.

Discuss Your Options For Achieving Freedom From Debt

If you’re looking to resolve your debt, avoid bankruptcy and prevent or otherwise address adverse legal actions by creditors, contact The Law Offices of Everett Cook to learn how attorney Cook may be able to assist you. The firm is based in Allentown and serves surrounding Pennsylvania communities like Bethlehem, Easton and Philadelphia. To get started, call 610-673-0907 or reach out online.

Everett Cook is a debt relief agent. He helps people file for bankruptcy relief under the Bankruptcy Code.