Creditors will often settle a delinquent account for less than the amount owed. The amount of a settlement will depend on many factors including the amount and type of the debt, the number of payments missed, and the skill of those negotiating the debt to be settled. It is common for lenders to settle accounts for less than 50% of what is owed. Generally, you will obtain the lowest settlement amount by offering a lump sum payment.
Having a licensed Colorado debt settlement attorney negotiating on your behalf will help you obtain the lowest possible settlement. At Aguero Law, we have settled hundreds of accounts and we will be able to devise a plan based on your specific circumstances.
Unlike large debt settlement companies you see on late night t.v., our licensed Colorado debt settlement attorneys negotiate directly with your creditors. All settlement agreements will be carefully reviewed by a Colorado debt settlement attorney and we will make sure that the settlement terms are fair, reasonable and binding on the creditor. In some cases, reaching a settlement with creditors is not possible. When that happens, consumers must be prepared to protect themselves from heightened collection efforts. In the event that you are sued by creditors, our Colorado attorneys can represent you in court or assist in filing Chapter 7 or Chapter 13 bankruptcy.
At Aguero Law, our attorneys will develop a plan to address your specific situation and will guide you through the debt settlement process. We will explain all of your legal options so that you can make an informed decision regarding your financial future. We are conveniently located just south of Denver, only minutes from Cherry Creek, The Denver Tech Center, and Denver’s south suburbs. Contact us today to schedule your free debt settlement consult.