Debt Settlement

Drowning in Debt? Start Settling it Today

Are you an individual or business that is drowning in debt? Are you facing constant creditor calls and do not know how to deal with them? The economy has been difficult in recent years, and many good people have wound up with more debt than they can handle. The good news is that debt can often be settled for less than what is owed. But in order to reach a favorable debt settlement, you must show your creditors you are serious.

At Zelazny Business Bankruptcy , we have been helping individuals and small businesses with debt problems throughout the Chicago area since 1996. Eric Zelazny is a lawyer and CPA with in-depth knowledge of both legal and financial matters. He has been called on by the courts several times to testify on these matters and has handled many complicated cases throughout the years. Eric is a skilled negotiator and has extensive experience dealing with all types of creditors. He also offers friendly personalized service with free consultations and a customized solution designed to put you back on solid financial footing. Schedule your free consultation today.

Debt Settlements

Negotiating a debt settlement is often a viable alternative to bankruptcy. However, creditors can be difficult to deal with on your own. With a strong advocate in your corner that knows the law and can show them that you mean business, you have a much better chance of success.

Your chances for successfully obtaining a settlement will depend on several other factors as well, including:

• Type of Debt: Not all creditors are created equal. Unsecured creditors such as credit card issuers and medical providers are the easiest to negotiate with. Secured creditors such as mortgage companies are more difficult, and the IRS is the most difficult. This does not mean we cannot resolve your secured debts or IRS Issues, it just means the negotiation may be more involved and the final settlement may not be as favorable as with an unsecured creditor.
• Financial Capability: Before entering into negotiations with any creditor, we must first determine what you can realistically afford to pay to settle your debt (either up front or on a monthly basis). Of course, the more you can afford, the better your chances of a settlement.
• Leverage: It is important to show your creditors that you have other options should they choose to decline your settlement offer. For example, you may be considering either a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy. Effectively communicating to your creditors that a debt settlement is not your only option may provide the leverage needed to convince them to accept your offer.

If you have a mountain of debt and you need a solution to put your financial life back on track, contact us today at 708-888-2299 for your free consultation. Eric, a bankruptcy attorney and CPA in Chicago, will meet with you and take the time to answer your questions, go over your finances and let you know what options are available to successfully resolve your financial issues.