Debt Settlement

How Does Debt Settlement in TN Work?

Debt settlement involves negotiating with your creditors to pay less than the amount you owe. Credit Card debt, medical bill debt, personal loans, payday loans, business loans & debt, as well as private student debt all qualify for settlement. Amounts due after auto repossession and home foreclosures also qualify for settlement.

Negotiating to reduce your debts so that you pay something and your creditor gets something is the debt settlement “middle road” because both sides get something. You don’t pay 100% and the creditor does not get 100%. This is also not as bad on your credit rating. Your credit will take a hit when you default in order to settle, but your credit rating will recover faster too when you pay something to your creditors.

What debts settle for is all about “risk assessment” by the collectors. The more risky you make it for them to collect, the better the settlement generally. No one can create more risk for them than a lawyer. That is because we can file bankruptcy. We can sue them for collection harassment. We can stop them from contacting you at all (which is how they collect 90% of their money). Hiring Fitzgerald & Campbell, APLC will force them to think hard about how they want to proceed and how much they will take as a settlement.

Another thing you must remember is any settlement must have an enforceable agreement written. Don’t be fooled by what they tell you on the phone!

But here is the best part! Our fee is completely contingent! That is, you pay us NOTHING until we get a settlement for you! No Settlement- NO FEE!

Every person’s situation is different, and a legal consultation is necessary to see what is best for you.