Debt Settlement in Denver Colorado
REGAIN FINANCIAL FREEDOM
We are a small local law firm that provides legal representation to clients throughout the greater Denver Metro Area.
We have helped clients reduce their
unsecured debts by up to 75%.
We will perform a complete debt analysis with you in person at our office location at no cost or obligation. You will have one personal debt specialist assigned to your case who will guide you on the journey to eliminating your debt.
As a Law Firm we are required to educate you on all of your options, including Loan Modifications, debt settlement and Bankruptcy. It is important that you understand the elements of every available option so that you can make an informed decision about what is right for you.
Many Colorado families are one or two paychecks away from filing bankruptcy. It is very easy to accumulate substantial credit card debt as a result of a loss of income or employment. A lack of medical insurance coverage or inadequate insurance can result in enormous medical debt. There are many reasons even the most financially responsible families’ fall into overwhelming debt.
Credit card interest rates today average well over 18%. Many families carry credit card debt which is equal to 25% (or more) of their yearly salary. Assuming these families are paying the minimum payment each month, it would literally take 30 to 50 years to pay off their credit card debt. It is important to understand all of the financial options when searching for debt relief service in Denver.
Debt Settlement is a legal and cost-effective option to reduce debt and save money. When handled correctly debt settlement does more than debt consolidation. Debt settlement actually reduces your debt to a fraction of what you owe with savings of up to 75%. Debt consolidation simply reduces your interest rates; you still end up paying off the debts in full. Debt Settlement is a proactive approach for individuals experiencing the stress of overwhelming debt due to credit cards, medical bills, personal loans and occasionally underwater 2nd mortgages or equity loans. Located in Denver, our debt settlement law firm will ensure you get the personalized attention you need for a successful settlement. We understand the stress and struggle of living with an overwhelming amount of debt, and our goal is to reduce and help manage your debt so that you can regain financial freedom.
Debt Settlement is generally a good option if:
- After speaking to an attorney, you do not qualify for a chapter 7 discharge or you wish to avoid bankruptcy because you have assets you wish to protect.
- You do not want to be in a 3-5 year Chapter 13 Plan or do not qualify for a Chapter 13.
- You already have a low credit score.
- You have an average to good credit score but are willing to sacrifice your credit score temporarily in order to get out from under your debts.
- You want to lower your monthly payments
- You want to stop the never ending collection calls and letters
A Successful Debt Settlement Plan will Settle
- Major Credit Cards
- Collection Accounts
- Medical Bills
- Credit Union Credit cards
- Unsecured Personal Lines of Credit and Unsecured Personal Loans
We are an experienced law firm. We use our knowledge of consumer credit laws to ensure we get the settlements you deserve.
Not only do we assist you with the settlement options, we provide you with legal representation throughout the entire process.
Debt Settlement FAQs
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Every situation is different and that is why it is important to discuss all of your options with an experienced local attorney. We offer a free initial consultation. We will help you make an informed decision because we are ethically required to advise you of all of your options. Unlike the national companies, we are bound to find a solution that is in your best interests, not ours.
Unsecured debts including credit cards, collection accounts, medical bills, personal loans and personal lines of credit. We may settle the remaining balance after a short sale of a home in certain cases. Wehave been able to negotiate settlements on underwater 2nd mortgages as well on a case by case basis.
This varies depending on a few different factors including the amount of debt you owe, the number creditors you have, how quickly you are able to generate adequate funds in the trust account, and the timeframe the creditors are willing to negotiate. We will discuss the anticipated timeframe with you during the initial consultation.
With credit counseling you pay back 100% of the balance plus interest and fees while with debt settlement you only pay a fraction of the balance. The law firm works directly for you whereas the credit counseling agency has a relationship with the creditors. The majority of the credit counseling agency’s income comes from the creditors.
A debt settlement company does not have the legal standing to stop collection calls. The Fair Debt Collection Practices Act (FDCPA) states that if a client has attorney representation, 3rd party debt collectors must communicate with the attorney and not the debtor.
Debt Settlement Lawyers have your legal rights in mind when negotiating your debts; they are able to defend your rights when dealing with creditors and collection agencies.
Creditors are required to report canceled debts over $600 to the IRS. We advise you to consult a tax professional to determine whether this will affect you personally. An experienced accountant can reduce the amount of taxes you pay and in some cases prevent the IRS from collecting any taxes against the debt depending on your debt to asset ratio.
Additional Information about Debt Options in Denver
If you have more questions about the best options for your current financial situation, call Consumer Law Pro today to speak with a bankruptcy expert at (303) 297-7729.