This actually isn’t a bankruptcy service at all; in fact, it is usually done to avoid bankruptcy. This is simply working out a settlement agreement with your creditors. However, this option usually requires a lump sum to be paid to creditors. Also, there are tax implications to this approach which much be evaluated carefully before making any decisions or payments.
Sometimes bankruptcy is not the right option. We don’t sell bankruptcies; we provide solutions to financial problems. Each case is unique. We have handled numerous settlements with creditors allowing clients to completely avoid bankruptcy. Again, our goal is to find the right solution for each individual client, and those solutions will differ.
Having an experienced bankruptcy attorney negotiate with your creditors puts you at an advantage over using a credit counseling agency. We have the knowledge and ability to respond with valid legal measures if a creditor won’t make any compromises. If you wish to pursue an out-of-court resolution with your creditors, we would be happy to explore this option.
We also work with other professionals such as your accountant to eliminate or minimize any tax consequences of the settlement. Or, if you don’t have an accountant, but we realize that you need one, we can provide reliable referrals to these and other types of professionals.