Bankruptcy AlternativesDon't want to file for bankruptcy? Find out possible alternatives to bankruptcy.
When an individual suffering under the weight of extreme debt, whether it’s from credit cards, medical bills, mortgage loans, payday loans, or any other sort of debt, the most frequent legal advice they received from the attorneys is to file bankruptcy. But the Said side of that is that many people can get out of debt by paying much less then what they all, without having to resort to bankruptcy.
Bankruptcy is not right for everyone, and many people don’t even qualify. And even some people who qualify simply refuse to file bankruptcy. That is understandable considering the fact that bankruptcy is public information for the rest of one’s life. In the age of the Internet, any of your neighbors can’t pull up your bankruptcy filing and see all of your assets, all of your debts, how much money you make every month, and how much you spend on your bills and personal expenses, and much more information. And this information stays public forever, not just for 10 years. As a law firm that files thousands of bankruptcy’s for our clients, and continues to file thousands of bankruptcies, we ought to know.
But our firm has a unique program that is tailored for those who would like to avoid bankruptcy. This program is not right for everyone, but one of our attorneys can give you a free evaluation of your options and whether you qualify.
Essentially, our program operates much like a debt settlement program, but much better and stronger. The difference between our program and a traditional debt settlement program is that we are an actual law firm, and we defend you in court should your creditors ever decide to sue you, and our credentials work to your advantage in the settlement process. And we do all of that for no extra charge.
The fact that we defend you in court, and that we have many years of credentials and have built a reputation with the law firms that represent creditors, we bring a lot more credibility and power to the table than any debt settlement company could ever provide. When creditors know your representative is willing to fight in court (as they know when you hire us), they are much more favorable to you in the settlement process. Debt settlement companies run away and stop representing you the very moment that your creditor hires an attorney. But we thrive in those situations.
The way the typical debt settlement program works in our firm is that we open an escrow account for you so you can start saving money every month towards settling your debts. In the meantime, we send cease and desist letters to your creditors ordering them to never call you or send you any letters again. If they violate these rules, we can sue them under the relevant laws. From there, we begin negotiating with your creditors and holding them at bay until you can gather up enough funds to make lump sum settlements with them.
We also send them validation requests under the FDCPA to your creditors, ordering them to validate the debts and to substantiate the charges. If they are unable to validate that that’s, then they are prohibited from reported them to the credit bureaus until such time as they actually sue you and get a judgment, or validate the debt.
Furthermore, since our firm is a full-service debt and credit firm, and has attorneys that practice and all sides of the Debt/Credit equation, while you were in this program we can always monitor if something else works better for you, or if one of your creditors violates another law that we can use to your advantage. This is another element that is missing in traditional debt settlement programs.
And by sending cease and desist orders to your creditors, they have to respect it and stop contacting you so long as we represent you. This is another aspect of our service that debt settlement companies simply cannot provide.
We are familiar with the courts and laws of our great state, and prep can bring that leverage and power to you when you retain us.
And since most people qualify for bankruptcy when they reach this level anyway, we also use the threat of filing a bankruptcy for you as a negotiation tactic in settling your debts. The fact that we are a law firm makes us much more threatening to your creditors then a debt settlement company would be.
Debt settlement companies merely call your creditors, and begged them to take a reduced settlement. We call your creditors and contact them and writing, and demand settlements or they will have to fight us in court. That is an awesome power to have on your side when you are trying to avoid bankruptcy. And it is a power that no debt settlement company in the nation could ever provide you. Yet our fees are either the same as theirs or even less.
For more information on Bankruptcy Alternatives visit our affiliated law firm, Fairmax Law.