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Debt Settlement

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 Indianapolis Debt Settlement Lawyers

Efficient Service in Emergencies | Member of Indiana State Bar Association | Over 30 Years of Experience

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Efficient Service in Emergencies
Member of Indiana State Bar Association
Over 30 Years of Experience

Debt Settlement Assistance

It is common for people to accumulate debt over the years through credit cards with high interest rates, personal loans during difficult financial times, and medical bills when health problems happen. Many people find that they are in a significant amount of debt for these reasons and they simply do not know how to pay it off in a reasonable amount of time. The traditional means of making payments may not work for some people in this situation due to their current financial problems.
Indianapolis debt settlement attorneys can help people who meet certain criteria. In many cases, a person who is seeking help with their debt has had reduced income or a job loss which makes it very difficult to pay off debts on a schedule that was established when they had higher income. This financial strain can show the company holding the debt that it is unlikely they will be paid without some kind of settlement or intervention. Those who have steady income, and no recent financial strains can have more difficulty persuading the company holding the debt that they are unable to make their payments under the prior agreement.

The type of debt that a person has can also make a significant difference regarding whether debt settlement is available. Debts tied to mortgages, car loans, and other types of secured debt generally cannot be settled, as the holder of the debt has the right to repossess property if they are not paid. However, things like credit cards, medical debt, and personal loans are generally eligible for debt settlement services. If you are interested in speaking with a debt settlement attorney in Indianapolis, be prepared to explain all of the types of debt that you have.

If the person who needs debt relief has not reached adulthood, they will need a parent or legal guardian to act on their behalf during the debt relief process.

The person holding the debt will also need to be ready and willing to work with their Indianapolis debt relief lawyer and any others involved in the process to reach a favorable settlement and best possible result. This can include providing all of the relevant information and updates while seeking help. Constant and regular communication with debt relief lawyers in Indianapolis at Mike Norris Law Offices is always recommended.

Debt Settlement Can be Done For:

In several cases, the debt is often settled at half of the original amount or less. Some examples of debt that can be negotiated and settled are:

 

•   Loans on equipment

•   Credit card loans and debts

•   Medical bills

•   Judgments

•   State and federal taxes

•   Second mortgages

•   SBA Loans


Count On Us For Your Debt Settlement

Settling debts is an alternative to bankruptcy for many small businesses and individuals. In a debt settlement, an agreement will be made, so that you can pay off the debt at a lower amount than what is owed. In most cases, these agreements include the waiving of interest, late fees, and penalties. Sometimes, creditors will also take less on the principal balance.


Negotiations By Debt Settlement Attorneys In Indianapolis

In order for debt to be settled at a lesser amount than what the person initially owed, skilled negotiation by a lawyer is generally required. Legal professionals who are experienced in these matters can often negotiate a deal that works well for their client and is acceptable to the company holding the debt as well. Once a successful settlement is reached, the debt is paid based on the terms of the settlement, which normally includes a much lower total amount.

 

Like other legal cases, debt settlement lawyers in Indianapolis are prepared to represent their clients in court when necessary. This is done to defend their interests and seek favorable outcomes, especially when out of court negotiations and settlement talks have not resolved the situation. If the company has sued you to collect a debt already, the lawyer may represent you in court as well.


Additional Advice About Debt Relief Is Available

Call 317-266-8888 to set up a consultation. The Indianapolis debt settlement attorneys at Mike Norris Law Offices can handle your creditors and negotiate with them for a debt settlement. Call us today!


Note: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Let Us Help Settle Your Debts

Call us today.

(317) 266-8888

(317) 266-8888
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