In some cases, bankruptcy may not be the best solution to dealing with debt. Alternatively, some clients prefer not to file for bankruptcy. Common reasons for not filing include relatively low debt, ineligibility to file for bankruptcy, or a personal reason.
For these clients, I offer:
1. Debt settlement.
Debt settlement is a process where I negotiate either a lump sum payment for less than is owed. Some creditors will accept a payment plan for those who are not able to offer a lump sum payment. In additon to negotiating a reduced balance, I also have the creditors sign a settlement agreement to protect my clients down the road from unscrupulous debt collectors.
There are many companies on the internet and radio offering to settle credit card debts. Some of these companies may be honest, however many are not. Any person considering one of these companies should do a thorough investigation of their practices.
2. Referrals to credit counseling or other reputable professionals.
The main point is, if you are in debt, do not be afraid to come to talk to me. Bankruptcy may help you. If it cannot help you, or there are other alternatives, I will be sure to advise you of them and encourage you to pursue them.