Practice Area
Debt Resolution & Loan Workouts
If you have been struggling with large amounts of debt, or have been unable to make your monthly payments, you may feel alone. This situation can be very stressful — but you do have options.
One of the best things you can do to avoid liquidating your assets or declaring bankruptcy is to negotiate with your creditors. This can be very intimidating for many people — this is when a skilled finance attorney can really help. David Soble and his legal team can negotiate with your creditors for you.
How can debt mediation help?
Many creditors will be willing to settle for a smaller sum or give you more time to make your payments. If an extenuating circumstance like a family emergency caused the missed payments, creditors may be sympathetic. With a steady income, you may be able to negotiate an affordable payment plan.
Common forms of debt
- Credit card debt: after a number of missed payments, many creditors will accept a settlement for less than you owe.
- Car loans: many lenders will give you more time, depending on your situation. Timely communication is key.
- Mortgages / home loans: there are many strategies for negotiating real estate debt, but you will need a real estate lawyer.
- Medical debt: early negotiation is key — you may get a discount with a down payment or set up a payment plan.
- Student loan debt: difficult to negotiate, but with expertise lenders may accept delayed payments.
Before you approach your creditor, bank, or a ‘debt settlement’ company, consider speaking first with attorney David Soble. Short of filing bankruptcy, debt mediation by an attorney is an excellent way to approach creditors.