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Phone: 505-305-0232
Location
2601 Wyoming Blvd. NE
Suite 108
Albuquerque, NM 87112
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When the prices you pay for groceries, gas, and housing increase, it's difficult to make ends meet. This problem then gets compounded by rising interest rates that put less of your payment toward the principal of the debt and more toward what you pay for the privilege of using someone else’s money.
It’s easy to start falling behind. It begins with making only the minimum monthly payments. Then you begin making payments late or missing them altogether. The financial stress can be overwhelming.
There are a few ways to deal with excessive debt, including bankruptcy and debt consolidation loans. Debt settlement can also offer a promising opportunity to unload massive debt and achieve a clean financial slate.
At the Law Office of Jason Cline, I help clients in Albuquerque, Rio Rancho, Santa Fe, Los Lunas, or anywhere else in New Mexico, explore their options regarding debt settlement. I can help you figure out what to do and what not to do if you choose to explore this option.
Basically, debt settlement is negotiating with creditors to get them to accept less than what you owe in full settlement of the debt. For example, if you are making payments on a $25,000 medical debt, you may be able to negotiate a lump sum payment of $18,000 to settle the debt.
Of course, you must have the money to make the lump sum payment, and the creditor must be willing to accept less than you owe. Still, under the right circumstances, it can be a win-win. You get out from under the debt and your creditor recoups most of what they lent you.
You should know that this type of debt relief, as with most types, can lower your credit score. The debt will appear on your report as “settled,” which indicates that you did not repay the full amount owed. Nonetheless, that downward path for your score could have much less of an impact than, for example, filing for bankruptcy.
There are multiple factors you need to weigh before choosing settlement as a debt relief option. An experienced debt settlement attorney can help you explore your options and navigate the process from start to finish. Begin with a few general debt settlement tips.
Debt settlement is not the only way you can get out from under your debt, but it could be the right relief path for you. If you are ready to explore your options, I am ready to help.
Call the Law Office of Jason Cline in Albuquerque, New Mexico today to schedule a consultation. It might be your first step toward a better financial future.
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Phone: 505-305-0232
Email: jason@attorneyjasoncline.com
2601 Wyoming Blvd. NE
Suite 108
Albuquerque, NM 87112
We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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