Debt Settlement

What is Debt Settlement?

Debt settlement or debt negotiation assists borrowers in paying back less than the total amount owed on a particular debt such as a credit card or a medical debt. It is done without court intervention and is often a better option than bankruptcy for higher income earners or those with sufficient assets. A debt settlement payment is typically in the form of a lump sum but short-term payment plans are not uncommon. In exchange for a reduced payment, the remainder of the debt is satisfied and forgiven. There are various factors that impact the success of debt settlement negotiations including the age of the debt, the total amount of the debt, whether the debt is secured by real or personal property, and the funds available to the borrower to settle the debt.

Any borrower considering debt settlement should consult with a tax professional regarding the taxable consequences of forgiveness of indebtedness income. Unlike a bankruptcy proceeding which does not trigger debt forgiveness income, debt settlement can trigger the realization of taxable income to the borrower.

If you have outstanding debts and have the means to negotiate reduced payoff amounts, we encourage you to call us today. Do not hire a non-attorney representative to advise you on debt relief or negotiate your legal obligations.

Free Consultation, Affordable Services

Many people avoid attorneys because they are worried about the affordability of the fees. But trying to protect your assets and eliminate your debt on your own will likely cost you more money in the end. Our services most often pay for themselves. We offer free consultations and will review your financial situation thoroughly and recommend realistic solutions to protect your assets and eliminate your debt.

Find out about the peace of mind that comes with having experienced professionals on your side. We will also answer your questions over the phone. We offer affordable payment plan options and believe that debt relief should not be cost prohibitive. The outcome and success of your situation often depends on the representation and advice you get in advance. Call us today for a free consultation.

Our Commitment To You

You will get an honest assessment of your options

We will return all your calls and e-mails promptly

You will be informed of all developments in your case

You will be treated with compassion and respect

Emerson A.

Stella M.


Janetta A.

Arron W.

I never thought I would be talking to a bankruptcy attorney. I am so grateful a friend referred you. I will never forget all your hard work and appreciate your honesty through all of this.
Lynn and I want to thank you for all the work you did. We came to you afraid and did not know what to do or where to look. We gave you our trust and you did not let us down. You gave us our lives and peace of mind back. Thank you and all your staff for your kindness. I trust you like family and will refer everyone to you.
I came to Chris with only a few assets and a lot of debt.  But my assets meant a lot to me.  Chris understood that and gave me alternatives to protect my assets from creditors.  He was patient and answered all my questions and walked me through the process.  I cannot thank him enough.
Chris took over for my incompetent bankruptcy attorney at a time when I was on the verge of losing both my house and my discharge. Through a lot of just plain hard work he resolved my situation entirely which for a time I never thought was possible. He showed how much he cares for his clients.
I interviewed a number of attorneys and Chris was clearly knowledgeable. But the reason I trusted Chris was that he was not selling me anything. He gave me honest advice as if I was family. He ended up saving me a lot of money. In twenty years of dealing with attorneys, he is the only one I trust without qualification.