Debt Settlement

Phoenix Debt Settlement Attorney

Skilled Legal Representation from Our Phoenix Law Firm

Overwhelmed with debt? If you are struggling to make payments on your loans, you may be able to take a quicker path to repayment through debt settlement. Our bankruptcy lawyer in Phoenix has vast experience helping clients manage their debt and can guide you to a favorable method of payment for any outstanding balances.

At Leonard V. Sominsky, ESQ., PC, we can fight to resolve your debt in whatever way is most appropriate for your particular situation. Over the course of the past 15 years, our attorney has offered legal assistance to more than 1,000 individuals. We have helped clients who have become trapped by debt as a result of job loss, medical emergencies, and a wide range of other circumstances. With this experience, we are prepared to help you find the best line of action for your situation.

Discuss your case with a Phoenix bankruptcy attorney at Leonard V. Sominsky, ESQ., PC who has been handling bankruptcy cases since 2000!

The Debt Settlement Process

Debt settlement is an informal process that takes place out of court. In general, a settlement begins when our lawyer contacts your creditors to negotiate a favorable arrangement for payment. If successful, a settlement will require a single payment of debt—but this payment will only constitute a portion of the debt that you owe. Through this method of handling debt, you may be able to repay your debt much quicker.

Our firm can help you settle the following types of debts:

  • Lawsuits
  • Home loans
  • Credit card debt
  • Unsecured loans
  • Car Repossession balances
  • Business loans
  • Credit unions
  • Medical bills

As simple as it may seem, working with your creditors to negotiate a settlement may be all it takes to resolve your financial issue. If you are ready to seek a settlement of your debt, call upon the services of our knowledgeable financial professional to make the most of this opportunity. Our firm can arrange to stop late fees and penalties.

Can I Afford Debt Settlement?

For individuals with a regular income, or those with some savings, debt settlement can be easily affordable. The debt settlement process involves paying your creditors a lump sum payment; in some cases, this money may come out of a savings or retirement account—in other cases, a payment plan can be established.

Is Debt Settlement the Right Option for Me? 

In addition to settlement, various options exist for combatting outstanding debt. These include consolidation and bankruptcy. If bankruptcy is not right for you, debt settlement may be a great choice to get your debt under control. At Leonard V. Sominsky, ESQ., PC, we can help you weigh the pros and cons of these different options and choose the best path for eliminating debt.

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