Lehighton & Carbon County Debt Settlement Attorney
An alternative to bankruptcy to help you deal with overwhelming debt
The Law Office of Adam R. Weaver, Esq. is a Lehighton law practice serving the people of Lehigh, Carbon and Schuylkill counties in a variety of legal areas, most notably debt relief. While Chapter 7 or Chapter 13 bankruptcy can be an effective means for consumers to find real, lasting debt relief, it is not the only way. Debt settlement is another option that for many is a more attractive alternative than bankruptcy. Although we handle a number of bankruptcies at the Law Office of Adam R. Weaver, Esq., we are not solely a bankruptcy law firm. We won’t try to push you into filing for bankruptcy as the end-all, be-all solution to your financial troubles. Our Lehighton & Carbon County debt settlement attorneys look at the big picture, explain your options, and help you make the best decisions for your own unique situation. If bankruptcy is right for you, we’ll let you know. But if you’d fare better with debt settlement, we’ll tell you that too. Learn more about debt settlement below, and contact the Law Office of Adam R. Weaver, Esq. in Lehighton to discuss your financial circumstances and your best strategy for debt relief.
What is debt settlement, and how does it work?
Debt settlement means that you negotiate with the creditor and get them to accept a lesser amount of payment in satisfaction of the entire debt. Why would a creditor agree to accept less than the total amount owed? Getting something is better than getting nothing, and unsecured creditors know that if you file for bankruptcy as a way of dealing with debt, the entire amount owed could get wiped out in a bankruptcy discharge. Creditors also know that in order to collect the debt, they may have to go to court to secure a judgment and then take further steps to enforce that judgment. This procedure costs them time and money, and it may be preferable for them to accept a smaller amount rather than risk going to trial and spending the time and expense involved. Negotiating a debt settlement is not easy, but an experienced bankruptcy and debt settlement lawyer knows how to negotiate from the best position, offer the right amount and secure a release of the debt.
How do I know if debt settlement is right for me?
Debt settlement may not work for everyone. For one thing, a debt settlement will likely require you to pay off the debt in one lump sum or possibly a few large payments, and you may not have the funds available to accomplish that payoff. Also, the threat of bankruptcy may only work when dealing with unsecured creditors where your debt would be dischargeable in bankruptcy. Another possible downside is that you may owe large amounts to several creditors, and you’d have to negotiate separately with each one, with no guarantee that any or all attempts at debt settlement would be successful. In a Chapter 7 or Chapter 13 bankruptcy, you bring all your creditors together in one place and deal with them at one time, rather than individually, and the bankruptcy court has the ability to cancel or reduce all your debts in one proceeding.
Even if you have many creditors, it may still be worthwhile to negotiate a debt settlement on one or more of your largest debts. Getting rid of even a portion of your overall debt may allow you to meet your other obligations more comfortably while avoiding bankruptcy or further financial distress.
Talk to an Experienced Lehighton & Carbon County Debt Settlement Attorney
Your first step is to speak with a knowledgeable attorney who is skilled in both bankruptcy and debt settlement. This way, you’ll get the best advice regarding your particular situation and have a lawyer who can pursue the best course of action for you personally. In Lehigh and Carbon counties, the Law Office of Adam R. Weaver, Esq. has the right level of skill and experience to help you obtain debt relief in the most effective way. Call our office in Lehighton to discuss your options and get started on a plan to take control over your finances out of the hands of your creditors and back with you where they belong.