Consumer Debt Negotiation Attorneys in Harrisburg
Your credit card debt has mounted. Your interest is at an outrageous 19 percent. Your student loans seem endless. Bills, interest, and default statements continue to accumulate in the mailbox. Even when you have the ability to pay off some of the debt, the total debt is too high - the only way out seems to be bankruptcy. This may not be your only option.
At McCarthy Weisberg Cummings, we are NOT bankruptcy lawyers. We cannot get creditors to eliminate debt when our client has nothing to offer for payment to the creditor. However, when our clients have the ability to pay off some of the debt, we are very successful in negotiating with creditors to have the remaining debt eliminated - without bankruptcy.
If you would like to discuss debt consolidation or settlement with an experienced lawyer, contact McCarthy Weisberg Cummings in Harrisburg, Pennsylvania.
Negotiations on Credit Card Debt
If you are in the situation where you can't keep up with your bills and try calling the credit card company for help - you will likely find the results are less than satisfactory. You may be offered reduced interest for a period of time or a longer period of time to pay the debt off. But that will only be for one creditor. How will you coordinate a functional reduction in payments with all of your creditors? Our attorneys at McCarthy Weisberg Cummings may be capable of negotiating credit card debt settlement in which you only pay pennies on the dollar to the amount owed for all of your creditors. We have had considerable success in demonstrating the benefit of a debt settlement with credit card companies and have been successful in reducing the total amount of debt by tens of thousands of dollars for our clients.
Debt From Student Loans
People are told time and time again that student loans must be paid off. Even bankruptcy can't eliminate a student loan. However, when an individual defaults on student loans, eventually the lender will pursue debt recovery from the Department of Education. The Department of Education is required by law to pay the lender up to 96 percent of the defaulted loan in these cases. However, the Department of Education has a right to seek recovery from the debtor who originally defaulted on the school loan. Our lawyers have had success negotiating debt settlements with the Department of Education. In instances where our client has the ability to pay off a portion of the defaulted loan, we have been successful obtaining debt forgiveness for the remaining amount.
Other Financial Issues
Debt settlement is not a fix-all solution. In order to be successful, you must be able to pay at least a small portion of the debt. There are collateral consequences. If you are in this position, obviously, your credit score has dropped significantly due to defaulted loans and other financial problems. Settling the debt will not cause your credit score to automatically rebound. Additionally, because the IRS views debt that is settled or eliminated as income, there may be complex concerns the next time you file your taxes. However, our attorneys can assist you with those tax law issues. Without the burden of overwhelming debt, however, you may finally be capable of regaining control of your finances and getting back in control of your life.
Contact us at McCarthy Weisberg Cummings for experienced legal help with debt negotiation in Pennsylvania. Call 717.260.3646 to address your debt concerns and discuss your options for debt negotiation.
Payment plans are not available in consumer debt cases. Based on the particular legal issue in these cases, our attorneys have no choice than to make the business decision to request payment for attorney fees prior to services being rendered.
