Debt Settlement vs. Bankruptcy
People in debt will often incorrectly assume that filing for bankruptcy is their only option. Rarely is bankruptcy the only option. The attorneys at Fields Law can work with your creditors to formulate a plan that fits within your budget and help you choose if Debt Settlement vs. Bankruptcy is the best option.
When filing for bankruptcy, a consumer can discharge their unsecured debt obligations (credit cards, medical bills, repossessions), but in exchange they are ordered to turn over certain non-exempt property to the courts to be sold and paid to the creditors and their credit rating is significantly tarnished. At Fields Law we attempt to settle your debts for less than you actually owe, all while preventing the harsh consequences of a bankruptcy filing.
Because no two situations are exactly the same, we do not promise that we will be able to settle your debt at any certain percentage. Beware of those companies that make promises of “we will settle all your debt at 40%”. Depending on your circumstances, we may be able to settle your debts for less than 40% of the balance due.
If you think your only option is filing bankruptcy, call our debt settlement lawyers today. We can review your options and help you decide the best path forward for your future. The call is free, and the advice is free.