Debt Help

Are you struggling under an unmanageable amount of debt that you cannot afford to repay? Debt settlement is an approach to reducing your debt. Through debt settlement, a creditor and debtor make an agreement on a reduced balance that will be considered as payment in full. Debt settlement involves negotiating with your creditors to reduce your debt in exchange for a lump-sum payment.

Why Do Creditors Agree to a Settlement?

The goal of any creditor is to obtain as much repayment as possible. Many can be convinced that settling the debt is a viable option, especially if the consumer is financially troubled and considering bankruptcy.

Successfully negotiating a settlement generally requires convincing your creditor that you have few financial options and they need to accept whatever you can afford to pay. You must be able to show that you cannot repay the full debt, but can afford to pay off a portion of the debt all at once.

To convince your creditors that you have no other options, and may even be considering bankruptcy, a skilled lawyer can handle the negotiations on your behalf.

In general, only unsecured debts may be settled. Unsecured debts include medical bills and credit card debts — not student loans, auto financing, or mortgages. For the debtor, this makes obvious sense; they avoid the stigma and intrusive court-mandated controls of bankruptcy while still lowering their debt balances, sometimes by up to 50%. While, for the creditor, they regain trust that the borrower intends to pay back the debt instead of filing for bankruptcy.

Negotiating with a Collection Agency

Negotiating with a collection agency is somewhat similar to negotiating with a credit card company or other original creditor. However, many collection agencies will agree to take less of the owed amount than the original creditor, because the junk debt buyer has purchased the debt for a fraction of the original balance.

As a part of the settlement, the consumer may request that the account be removed from the credit report, which is generally not the case with the original creditor. With the current economic crisis, more credit card companies may be willing to settle existing credit card debts rather than add to their already large written-off bad debt.

Beware of Debt Settlement Scams

Debt settlement is a legal way to reduce your debt to an affordable level. Still, there are many debt settlement companies that will not represent your interests. These companies may misrepresent the reduction you will see, fail to disclose that you may be sued if you stop paying your creditors, and charge you substantial fees before settling any debts.

Contact Agruss Law Firm, LLC Today

If you are overwhelmed with debt and want an experienced negotiator to attempt settle your debt at a reduced amount, contact Agruss Law Firm, LLC. We have helped countless consumers receive debt relief and/or debt reduction.

We will seek a favorable debt settlement on your behalf by acting quickly, assessing how much you can realistically pay per month or upfront, and exploring your options with you. While debt settlement may be your best option, you do have other tools. We will help you consider all options, including bankruptcy.

Agruss Law Firm, LLC, has built relationships with credit card companies and collection agencies and can often times come to a settlement agreement quicker and at a more favorable rate than a debtor acting on their own. Contact Agruss Law Firm, LLC, to see if debt relief and/or debt reduction is an option for you.

Complaints - Debt Help

  1. James

    I had some setbacks at work which had me falling behind. I’m now struggling to pay my bills and playing catchup. Combination of credit cards, student loans, private loans, and collections!

  2. Steve

    i get these calls im unemployed and i told them this and they still keep calling. They call at least 4 or 8 times a day 4 times today!

  3. Eugene

    I have Title Fraud Issue here. I purchased a vehicle from an auto dealer, and they have not sent paperwork to motor vehicle department for us to receive a title. what can I do? I purchased a vehicle in September. I paid for the vehicle, tax, transfer of the Registration and Tags from my former vehicle. I filled out all paperwork at dealership. They were responsible for sending the information to our local motor vehicle department for us to receive our title. I purchased vehicle from Redline Autos LLC. The owners have shutdown the business, and will not answer their cell phone. I have already spoken to the police, and a representative from motor vehicle department. Seems the only thing that can be done is an extension for registration renewal (still showing under my former vehicle) until the situation is resolved. Yes, I found the phone info in the glove compartment, and left a message for the previous owner of the vehicle I purchased to see if they have any info on the owners of the Dealership!

  4. Paul

    My name is Paul Keene and Michgel just settled a case for me with GC services and I just needed to know if my check from that settlement will come from you guys or them in the mail and when? I can.t remember the number but Michgel has it on file.I,m sorry my memory is very bad!

  5. PAVEL

    Hello there. 877-891-9182 is keep calling me, autobot or debt collector I’m not sure, can we do something with this? They keep calling me from different number 877-891-9XXX during day for last week. Keep telling me I have a debt. I don’t have any debt and all my payments on 2 credit cards were made on time. its annoying, i asked them not to call me, but its continuing!

  6. Elba L.

    I have a debt and they serve me papers and now I’m suppose to go to court on Jan 6th. I hv an unpaid balance of $1,077.28 with HSB Bank Nevada but Portfolio Recovery bought the account, they have been calling me and to tell you the truth I hv been ignoring the calls because I’m not working, I hv no way to pay them and one afternoon a guy came to my place and serve papers and told me that I hv been sued by this company!

  7. Karen

    I have been getting harrasing calls from 877 630 6409. How do I know this is a legit company and I’m not getting scamed. You already know my number and that I’m on my phone. That number that keeps calling me says it’s the same firm and had all my info and that they are sending me stuff in 24 hours I am very nervous that’s all!

  8. Janet

    Hi i recieved a very rude automated voicemail this morning. To be honest im not aware of what they are calling about. I know i have debt but they didnt state what it was about, it was just a very rude automated voicemail, i have gotten harrassing phone calls but not like this, well the way you word it makes me worry like im in big trouble!

  9. Olice

    National Enterprise System called me demading i pay 17,130.52 or in a lump sum 12,000. I dont even know who these people are. They list a student loan. I tried to talk to her, but she kept insisting on a lump sum of money. I tried to explain to her that I had just started to work in December and since I had just burried my mother, I had helped with her care (reason i wasn’t working). I never got past the “how much can you pay right now?” conversation with this horribly rude woman. I have seen lots of complaints, when i call the number on the bill it hangs up on me. Not sure what to do now!

  10. Jeffrey

    my son and I have been harassed many times by sallie mae, we were set up on a 15 month repayment plan and they still called us every month, sometimes 3 and 4 times a day leaving messages and they were getting there money monthly because we were set up on automatic withdrawl from our bank account, i’d really like to know if they even have a original promisary note for our loans too. I have become disabled since I took these loans out and now I can’t work so I live on a small amount of money per month and to pay these loans is a huge burden my mom co signed and really doesn’t have the money either as she is trying to raise other kids still not sure if any of this matters but I thought I would share!

  11. Patrick

    I’m reading here about halsted, today she got harassing phone call from computer voice, claiming to be from halted, with threats if i dont talk to person at halted, action will be taken, halted somehow got hold of my wife cell number, harassing her to get to me, for so-called credit card debt of mine pre-2010 not paid. why even waste my time further with scammers like this!

  12. Cynthia

    What do you do about navient? i owe a lot of student loans, never could get a great job, had used all of the deferments including unemployment, had a bad few months of paying and I signed up for a student deferment which kicks in 3/16 and it was approved by navient to change my field slightly to see if I could get a job. they keep calling and say i have no deferment etc although I sent in the paperwork and they approved it. they call incessantly. I also had a few surgeries and had health reasons when some of them were kicked back. i borrowed about 25-30 thousand but due to the interest rate since I am older and due to the resetting due to deferments, it is up to 90 thousand. I am desperately trying to get a job in public service. I am trying to lock in on the public serviced foregiveness in ten years. Nope, not disabled!

  13. Rafael

    buscando informacion referente a ARA Asset Recovery Associates encontre su pagina de internet y veo que pueden solventar este proplema, cual seria el nombre del abogado que tendria que comunicar para hablar con el , entiendo y hablo bien el Ingles, recibi varias llamadas y suy amenazantes sobre ARA y dicen que tengo una deuda de menos de 2000 me mandaron una carta via email y mi nombre no concuerda y mi direccion tampoco, y me amenaza con llevarme a corte y reportarlo al buro de credito, el ARA dice que la deauda es originaria de Miami y le pide documentos que avalen la cuenta pero no puede ARA ofrecer ningun registro!

  14. Tracey

    I keep getting calls from Halsted financial. They call my parents house all the time I have not lived there for 15 years. They say I owe them money I have never heard of them!

  15. Fernando

    si, he tenido varias llamadas de una agencia de coleccion, en la que me amenazan en que si no pago una determinda cantidad me van a meter a la carce, que ya mandaron al sheriff por mi, me acusan de ratero, se burlan con la cantidad de ofrezco que es lo unico que puedo pagar, me intimidan que es hijo de un juez en la ciudad en la que vivo, llaman de diferentes numeros, llaman a mi trabajo sin permiso, llaman a mis familiares, los tengo grabados!

  16. Jeff

    That’s good. My name is Jeff and I am furious with a phone call I just received from SRG over “a debt” from 2000. This gentleman and lady were very rude. Stated that I owed for a hospital bill in the amount of $621. The date of injury was 5/2009 ( which is accurate) My insurance paid for the visit. SRG had my last 4 of my SSN. Couldn’t provide with with an account and then hung up on me. I contacted the hospital and there is nothing in their system!

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