Debt Settlement

If you are considering filing Chapter 7 or Chapter 13 bankruptcy, you may want to slow down and research all of the options you have available. Just because you can, doesn’t necessarily mean that you should.

Securing the assistance of a skilled Texas debt settlement lawyer like the ones at The Kherkher Law Firm PLLC is your best option for restructuring your debt payments.

If you are overwhelmed with debt, the debt settlement lawyers of The Kherkher Law Firm PLLC can help. Contact us today at 713-244-6363 to speak with one of our committed and skilled Texas debt settlement attorneys.

What is Debt Settlement?

Any form of unsecured debt can arise as the result of unexpected health problems, unforeseen unemployment, irresponsible spending, or some other financial emergency. Sadly, one of the biggest reasons individuals collect massive amounts of debt is because of medical issues.

MedData compiled several different studies, revealing some eye-opening statistics, including:

• As of 2012, 75 million people had reported problems paying off medical bills and debts.
• This was a substantial change from 2005 when 53 million people were having financial problems as a result of medical bills and debts.

These statistics highlight only one factor of a growing problem in America that is affecting millions of hardworking and honest individuals who are locked into stifling debts with their creditors. In some cases, they have no way to pay their creditors back.

Debt settlement is the process of a debtor paying off their creditor after coming to a mutually agreed upon amount. Debt settlement is usually reserved only for credit card and medical bill debts. Oftentimes, the debtor will decide to negotiate a settlement on their own with their creditors, but this can mean trouble.

Unfortunately, not too many individuals realize that they have other options.

Debt settlement may seem like the ideal way to solve your financial woes but proceed with caution. Depending on the assistance of a debt settlement company does not always guarantee that you will be any closer to paying off your debt.

Hire a Debt Settlement Attorney or a Debt Settlement Company?

There will come a time when you have to make a decision on how you will pay off your debt. In some circumstances, people that are struggling with debt may decide to reach out to a debt settlement company for aid. While you may think that you are in good hands with a debt settlement company, the truth of the matter is that these type of agencies cannot offer you the same level of protection that a qualified Texas debt settlement attorney can bring to the table.

Debt settlement attorneys have the knowledge necessary to protect you from harassing creditors and debt collection agencies. On the other hand, debt settlement companies cannot stop a creditor from suing you. It’s worth noting that while debt settlement companies are attempting to help you, your accounts will accrue more debt from late fees and interest, further perpetuating your initial problems.

With a debt settlement attorney, it’s made easy. One option that may be available is the creation of a savings account of sorts set up by your lawyer. You’ll stop paying your monthly payments to the creditor, and instead, the money is placed into the account.

Once a sufficient amount of the debt has been collected, our debt settlement lawyers will reach out to the creditor and negotiate a lump sum payoff, which is more than likely a significant reduction from what you would’ve paid initially.

With a debt settlement company, this may not be a possibility. At the same time, debt settlement companies charge high fees and often have confusing payment systems where — at times — you have to hunt down third parties that are owed. Even if your experience with a debt settlement company has been pleasant thus far, you also run the risk of paying income taxes on the amount of debt that was forgiven.

With Texas debt settlement lawyers like the ones at The Kherkher Law Firm PLLC, you are empowered with more options. Our law offices have the power to restructure — if not completely eliminate — your debt payments depending on what you are legally entitled to.

Get the support you need to handle your debt settlement situation by contacting the committed team at The Kherkher Law Firm PLLC today.

The Basics of Debt Negotiation

Negotiating your debt down to a manageable level may be possible if your balances are low enough. If your creditor does not wish to negotiate, then you will definitely need to secure the services of a skilled debt settlement lawyer.

Should you decide to work with The Kherkher Law Firm PLLC, debt negotiation is much more likely to end in your favor. Our Texas debt settlement lawyers can effectively help you to minimize or eliminate debt for:

• Medical Bills
• Credit Card Debt
• Personal Loans
• Cell Phone Bills
• Accumulated Interests
• Additional Fees

Nothing works better than enlisting the aid of a Texas debt settlement lawyer to help whittle down overwhelming piles of debt. Contact The Kherkher Law Firm PLLC today at 713-244-6363 to get started with our proven step-by-step process personalized specifically for your needs.

Why You Need The Kherkher Law Firm PLLC On Your Side

When you hire a debt collection defense attorney from The Kherkher Law Firm PLLC, you get more than skilled legal representation. You get a whole legal team that is knowledgeable in the many complex areas of consumer law, and this comes with a bevy of settlement advantages like:

• Reducing Your Debt
• Lowering Your Monthly Payments
• Reducing or Eliminating Your Interest
• Improving Your Credit Rating
• Avoiding Bankruptcy

But the benefits do not stop there with The Kherkher Law Firm PLLC. Hiring our debt settlement lawyers simply beats out the alternatives because:

1. We Are Highly Qualified – For years we have fought diligently for Texans who have needed support decreasing debt payments.
2. We Will Investigate All Available Options – We don’t string around our clients into selecting options that are against their best interests. We cover each and every option so that you have full knowledge of what can or cannot be done about your debt. This courtesy is, more than likely, something you won’t receive if you went with a debt settlement company.
3. We Are a Leading Authority in Our Field of Work – Creditors know exactly what our debt settlement lawyers are capable of and they are aware of our vast consumer law knowledge. Because of this, the possibility of eliminating your debt is even greater.
4. We Prioritize You – To us, you are not just another number. You are an individual suffering from a situation that is likely outside of your control and we want to help you in the best way possible. We will fight tooth and nail as your legal representation both in and out of the courtroom – if necessary – in order to secure you a healthy financial future.
5. We Protect You From Getting Sued – If a creditor decides to take you to court with a lawsuit, our debt settlement attorneys can defend you. Our particular counsel and advice on how to handle the situation will be unmatched should the creditor violate laws such as the Fair Debt Collection Practices Act (FDCPA).

Nobody does debt settlement better than the Texas lawyers of The Kherkher Law Firm PLLC.
If a creditor has filed a lawsuit against you, it is in your best interest to respond to any summons. Failure to respond to a citation against you can lead to a default judgment, and in many cases, it could make your financial situation a whole lot worse.

What to Know About Texas Judgment Negotiation

For those that have been served a summons or other documentation showing that a creditor is suing you for the debt owed, it is imperative that you respond to any such correspondence. If you decide to ignore it altogether, the court will have no choice but to issue a default judgment.

A Texas default judgment is valid and enforceable, much like it would be if you were to go to trial and lose. Default judgments can make your specific circumstance all the worse, as the court is now legally forcing you to pay off the debt. There are several ways that creditors are legally allowed to collect.

For one, while in the state of Texas you won’t be thrown into debtor’s prison, you could be held in “contempt of court” if you decide to ignore a court order. This means that you may be forced to turn in financial documents so that the creditor’s lawyer can discover what type of assets you have — this is known legally as the “post-judgment discovery”.

However, when a default judgment is issued, it usually means that the court is giving the creditor the right to garnish your bank account. This is different from wage garnishment.

With bank account garnishment, the creditor with the final judgment files a different lawsuit to your bank for the right to garnish your cash. During this time, your bank account will be frozen until the bank garnishment lawsuit has completed its course.

If you have received a debt settlement citation, time is of the essence. Call our Texas debt settlement attorneys right now at 713-244-6363.

It’s time to take back your life. Empower yourself to get back on your financial feet by contacting The Kherkher Law Firm PLLC and show these creditors that you won’t be bullied by their unfair strategies and tactics.