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Debt Settlement/Mediation

In this economy, many consumers find themselves up to their eyeballs in debt. This could have been caused by a job loss, a pay cut, a divorce, failing to live within one’s means, or other reasons.  Unfortunately, once you’re in debt, it can be hard to climb out of it. When the debt is at a high interest rate, and perhaps fees and penalties are added on, the debt can grow larger each month even if you’re making payments.

Many consumers consider filing bankruptcy. However, bankruptcy isn’t a viable option for everyone. Instead, increasingly debtors are turning to debt mediation to help. In debt mediation, debtors negotiate with creditors, so that creditors agree to accept less than 100 percent of the amount owed.

Some individuals attempt to do debt mediation on their own, but they will most likely have more luck hiring a debt mediation attorney. Debt mediation attorneys are trained to work with creditors, and know negotiation techniques that the average consumer may not be familiar with.

In some instances, professional debt mediators can obtain very positive results for debtors. They may reduce their original debt by a large percentage, and could get interest charges and penalties removed as well. Creditors are often willing to work with professional debt mediators because they know that if they refuse, the debtor may be forced into bankruptcy, and they may receive no payment on the debt at all.

Although debt mediation can be very effective, it’s not always fast. It can take longer than bankruptcy, depending on how many creditors are involved. However, during the process creditors may stop calling and sending letters to the debtors.

Are you currently wondering how you are going to pay your bills? Are you living from paycheck to paycheck with no relief in sight? If so, contact the debt mediation attorneys at National Consumer Law Group. They can help you work with credit card companies and other debtors to reduce the amount owed. Call them today!

The National Consumer Law Group, A Professional Corporation is a law firm with a nationwide network of attorneys providing a broad array of legal services to individuals and businesses nationwide in the areas of Tax Relief and Bankruptcy matters.

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| Phone: 888-988-NCLG

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