Seattle Debt Settlement Lawyers

    Debt settlement is an alternative to bankruptcy in which a debt settlement lawyer with Symmes Law Group, PLLC will negotiate with your creditors and settle your unsecured debts for between 20%-75% less than what you owe. There are several debt relief programs that ask for money up front that are scams, so it is best to consult with an attorney before deciding how best to manage your debt. When you settle your debt it will appear on your credit report as “settled” however any previous delinquent history will remain on your credit report. If you are being hounded by creditors and retain our services, you may refer any creditors to our Seattle debt settlement attorney, and from that point on they must deal only with us.

    Going the debt settlement route does not make sense for everybody. Generally a creditor will not negotiate with a debtor unless they are behind on payments or are attempting to get a judgment in court. Creditors are willing to negotiate with debtors for a fraction of the money owed because if a debtor files bankruptcy, the creditors will get nothing in return. A lot of the time creditors will not allow for a payment plan and will offer a lump sum payment settlement of up to 75% off the original debt. This makes sense for some clients, for instance if a debtor is not eligible for a chapter 7 bankruptcy, a debtor has non-exempt equity in personal property which they can sell or cash out to pay off the debt, or the debtor is being sued and they want to avoid getting a default judgment against them.

    Our debt settlement attorney has an established relationship with creditors which can lead to us settling your debts quicker and at a more favorable rate. Furthermore, some creditors have their own policies in which they will not negotiate directly with a debtor, only with their debt relief attorney or debt settlement company. Our fees are based on the total amount debt to be negotiated. The fee will be collected from you on a monthly basis along with payments that will be made into a new trust account that we will set up for settlement purposes. When you come in for a free consultation a debt settlement lawyer will advise you of your options and what the best way to proceed is. Call us today at 206-682-7975 for your free consultation.