At Debt and Lender Resolution, we provide advice and counsel to clients that have excessive debt which has become unmanageable. We provide individual debt relief by obtaining affordable settlements, while allowing the debtor to avoid liquidation or loss of property. Drawing upon our dispute resolution strengths, we also represent businesses that are facing Chapter 11 Reorganization. We achieve out-of-court settlements which will allow the debtor to keep possession and control of its assets, without the appointment or election of a case trustee.
Service to Debtors
Debt and Lender Resolution has a team of highly skilled professionals which have obtained favorable settlements for a broad range of clients. Our capabilities include: :
- Intermediary between an individual and a debt collector for the purpose of obtaining concessions through more favorable terms, reduction in finance charges or interest; waiver of late payments, and reduction in the principal amount of the debt.Arrange settlements over terms that are systematically paid according to our plan.
- Resolve debt for 40-70% less than the contractual minimum
- Achieve full payment of debt plus the avoidance of bankruptcy.
- Attain relief from creditors/third party collection agencies that operate dishonestly and/or illegally.
- Low fees imposed in connection with a lender's consent to accept less than the principal amount of the debt.
Benefit to Lenders
Although we are a consumer firm, our practice provides assistance to financial institutions as well. Financial institutions benefit in the following ways:
- Increase returns in a non-adversarial manner.
- Handle a higher volume of accounts with a reduced workforce to minimize the great costs associated with collection activity, collection calls, and legal action.
- Avoid disreputable FDCPA violations and formal complaints with the FTC (Federal Trade Commission, Attorney General, and or the ACA (American Collector's Association) or local State Bar Association.
- Improve liquidation rates.
- Reduce caseloads of overloaded bankruptcy courts and small claims court by resolving claims.
Other Debt Solutions
Although bankruptcy is a necessary option for some, it is considered as a last resort. Bankruptcy is a drastic solution and it is necessary for a professional to review all other options before moving forward with bankruptcy. If bankruptcy is the right alternative, we can assist in the bankruptcy process. If you would like additional information, please e-mail us or call to set a confidential appointment with a chapter 7 or 13 specialist.
Bankruptcy has some advantages:
- Your creditors will no longer be able to pursue you or take action against you to recover what you owe
- You will not have to make further payments to your creditors, but will have to pay any surplus income over to your Trustee
- All of your debt will be written off providing you with a fresh start
- Income from benefits or pensions will be yours to keep
- You can expect to be discharged after 1 year and will then be free of debt
There are also disadvantages:
- If you own any valuable assets, including endowment policies, these will usuallyhave to be sold
- It restricts your ability to obtain credit in the future without permission from the lender and your credit rating can be affected for many years after the annulment
- You are not allowed to be involved in the day-to-day management of a limited
company plus some additional restrictions
- It will be difficult for you to obtain a business license after filing.
- There may be a clause in any hire purchase agreements that you have which may
terminate automatically if you become bankrupt.
- A bankruptcy is a legal document that is recorded with your state and a Chapter 7
bankruptcy will remain on your credit report for 10 years.
In the case of weighing bankruptcy and debt arbitration, consider the following: Debt arbitration means that each party in a matter has representation and that a neutral figure presides and provides a decision to which both parties abide. Arbitration and negotiation never become part of the public record, while a bankruptcy does. Debt arbitration results in settlements with your creditors and although your credit may look blemished for a short while, it will rebound more quickly than with a bankruptcy.
How you pay your debts is a part of your credit report and your credit score:"Paid as Agreed" on your credit report indicates that you fulfilled your contract to your
creditors."Paid" on your credit report indicates that the debt was paid through settlement or some other means."Defaulted" indicated a bankruptcy or complete loan delinquency.
Debt And Lender has also successfully defended various criminal antitrust prosecutions. Our attorneys who handle these types of cases can also call upon colleagues in the firm who have deep experience representing those in the particular clients'
The strength of our counsel on antitrust matters is directly related to the depth of our lawyers' knowledge. Our attorneys tackle these issues not only with a firm grasp of antitrust law but with an understanding of the many types of laws affecting the industries in which our clients operate, and a thorough appreciation and comprehension of our clients' businesses and objectives.