Looking for Bankruptcy Alternatives? Consider Debt Settlement!
Our Denton, TX Attorneys Explain What to Know About Debt Settlement.
Some people who find themselves in over their heads with debt have many reasons to believe that neither Chapter 7 or Chapter 13 bankruptcy is best for them. Perhaps too many exemptions apply in your particular circumstances, or you are dealing with debts that cannot be discharged in bankruptcy.
In these cases, you may be able to seek debt relief in the form of debt settlement. With the help of an experienced lawyer, you can negotiate with your creditors, who may agree to lower the amount owed, reduce, or eliminate interest and/or lower payments over set periods of time.
To discuss bankruptcy alternatives, including debt settlement, schedule a free, initial consultation at the law offices of Shuster Law PLLC, in Denton, Texas.
Call (972) 315-6222 or fill out our free, confidential online debt review form. We will schedule a consultation and will advise which documents, if any, to have on hand.
How is Debt Settlement Different from Bankruptcy?
Both Chapter 7 and Chapter 13 bankruptcy offer debt relief by allowing you to pay your creditors some money and then discharging the rest of your debt through a court order. Debt settlement does not involve going to court, but instead is based on direct negotiations with your creditors.
With the help of a lawyer, you may be able to negotiate a more reasonable payment plan or even a lower payment overall. Debt consolidation agencies have been around for decades and do assist with debt, but they can cost more in the long run because of their high fees.
Chapter 11 is generally only used when a creditor sues a business and this will not really apply to debt settlement services, or to other personal and business bankruptcy filings such as Chapter 7 and Chapter 13. You can stop creditor harassment when you choose to pursue debt settlement. Our Denton lawyers can send each one of your creditors a letter notifying them of our representation, just as if you were filing bankruptcy.
According to the Texas Fair Debt Collection Practices Act (FDCPA), once you retain an attorney and the creditors are notified of that fact, they are not allowed to contact you directly. All communications must go through your lawyer, meaning you no longer must deal with the creditors on your own – they go through us, and we know HOW to deal with creditors.
Beware of commercial debt settlement companies that ask you to pay them for information and assistance while you stop paying your creditors.
Many debt settlement companies are scam operations looking to take your money and do nothing on your behalf. You may even end up in a more negative situation as a result! An attorney is bound by ethical rules and will help you legally pursue a favorable debt settlement agreement with your best interests and getting control of your debt in mind.
Shuster Law PLLC
David Shuster is a native Texan, born and raised in Arlington, studied Economics at UNT, then law in Fort Worth at Texas A & M University School of Law, and has been a member in good standing with State Bar of Texas since November of 2002.
Learn More About Debt Settlement in a Free Review with Our Attorneys in Denton, TX.
At Shuster Law PLLC, we are committed to helping Texas families reclaim their financial independence through debt settlement and bankruptcy. Owner and experienced Denton debt relief attorney David Shuster devotes most of his practice to bankruptcy and debt settlement law, and has the experience you need on your side when you go up against tough creditors.
Settle your debts legally and affordably through debt settlement negotiations. Our past clients include residents of Argyle, McKinney, and Corinth, but we handle cases from throughout the Dallas/Fort Worth/Arlington/Flower Mound/Denton and Dallas areas. In fact, all of Denton County is served either virtually or in person, depending upon the situation.
Do not make the number one mistake of paying a debt without consulting Shuster Law PLLC. You do need to speak with us first so we can review the amount of debt, seek the best solution, either settlement or bankruptcy. Do not take matters into your own hands as a bad situation can quickly escalate!
Call (972) 315-6222 to arrange a free initial consultation to discuss your financial circumstances. Let our crew of great attorneys assist in Denton, or one of our other locations if needed. But stop suffering the horrible phone calls and scathing letters from creditors today when Shuster Law PLLC is always on hand to assist you with debt settlement or bankruptcy!
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