Wilmington, NC Debt Settlement Lawyers Providing Legal Help to Clients Dealing with Overwhelming Debt

If you’re tired of getting phone calls from creditors requesting that you pay them immediately, you should get legal advice from a debt settlement attorney. Whether you don’t have the money to pay your bills or are not even sure if you truly owe the debt that creditors are contacting you about, you shouldn’t have to deal with this process alone. The skilled lawyers from our law firm can help.
When you come to Gillespie & Murphy, P.A. for assistance with your financial situation, our lawyers will sit down with you to learn the details of your case and determine the right solution to help you get out of debt. If you’re interested in finding out what your options are, contact our Wilmington law office for a free consultation with our legal team.

What Can You Expect from the Debt Settlement Process?

The point of debt settlement is to offer your creditors an amount of money that is low enough for you to afford to pay yet high enough for them to stop contacting you for payment. As you might imagine, this requires negotiation. If you don’t have the time and energy to call every creditor and negotiate a payment amount that works for everyone involved, you should hire a debt settlement lawyer to do this for you.
First, your lawyer will contact the creditor to negotiate what you’ll pay. In many cases, they’ll ask the creditor to reduce the amount owed if you can make a lump sum payment now. They might try negotiating down to about half of the original amount, and they can request the removal of late fees and interest. This can make it affordable for you to pay off unsecured debt that includes:

• Credit card debt
• Medical bills
• Lawsuits
• Business loans
• Personal loans

If you need clarification on whether debt settlement is a viable option for you, call our law firm in Wilmington. We offer free consultations to ensure we have the right solutions in mind for clients.

Are You a Good Candidate for Debt Settlement Help?

During our years assisting clients across North Carolina, we’ve found that most people can benefit from debt settlement services. In particular, if you owe a lot of money on unsecured debts and cannot afford to make your payments on time, it’s helpful to hire a lawyer to settle your debt. This is especially the case if you are facing wage garnishment, property loss, or lawsuits due to your debts.
Additionally, if you are considering filing for bankruptcy, you should talk to a lawyer first to find out if settling your debt is a better option for you. In some cases, it’s the solution you need to improve your financial situation. As long as you have the income necessary to pay a portion of your debt, hiring a lawyer to settle what you owe may be right for you.
Of course, not everyone is an ideal candidate for debt settlement. If you mostly have secured debt, such as a house or car loan, the creditor would typically rather take these assets back rather than negotiate a smaller payment for them. In fact, even if you have unsecured debts, not every creditor is willing to negotiate a lower payment. This is why it’s important to talk to skilled lawyers about all your debt relief options, as it might turn out that bankruptcy and other solutions would be better for you.

What Are the Possible Outcomes of This Process?

It’s important to know what to expect when you settle your debt. For most debtors, the best possible outcome is finding out they don’t owe the debt. This could be because the creditor has mixed them up with someone else, which their lawyer will discover when researching to ensure the debt is legitimately theirs. Similarly, a lawyer might find out the debt is too old for creditors to pursue, at which point they can request that they stop their debt collection methods. If this is the case for you, you won’t owe anything on these debts.
If your lawyer determines that you do owe the debt, they can negotiate with the creditor to allow you to pay a lump sum that is a percentage of the total. Another option is a payment plan that you can afford to stick to for a few years until the debt is paid off. Either way, these solutions can stop invasive phone calls and threats of wage garnishment from debt collectors while permitting you to pay less than what you originally owed. Our lawyers will let you know what to expect from your specific case after a consultation at our Wilmington law firm.

What Can Debt Settlement Lawyers Do for You?

If you’re ready to put a stop to phone calls from debt collectors, contact Gillespie & Murphy, P.A. for help with debt relief. When you hire our legal team, we will review your financial details to find out if the debts are yours and if you still legally owe the amount due. If you don’t, we will present evidence of this so the creditors can no longer contact you.
If the debts are indeed yours, we can contact every creditor to negotiate a payment that you can afford. Our goal is to protect you from dealing with the strategies that creditors often use to get paid, from constant phone calls to threats of lawsuits. You should not have to endure these tactics simply because you don’t have the money to pay right now. Let our compassionate lawyers find the right solution to reduce what you owe so you can focus on what’s important in life. Call our law firm at 910-597-4419 for a free initial consultation.