What Is Debt Negotiation?

Experienced Debt Negotiation Attorney in Wisconsin

Debt negotiation is a unique debt relief option that does not involve bankruptcy. Many people are not aware of this option. In my 20 years as a Milwaukee bankruptcy attorney, I have used this method to help many people find debt relief. Through negotiation, I use little-known but effective strategies to wipe out a substantial amount of the balance owed to a client's creditors.

I have used negotiation to settle many types of unsecured debt; however, it is most effective with credit card companies. Through letters and phone calls, my team at Sapinski Law Office, S.C. may make demands on your creditors and request that they follow certain federal and state laws.

In the end, I negotiate a lump-sum settlement with them. Through hard-fought negotiation, it is not uncommon for a creditor to forgive 70 to 80 percent of the balance that is owed. The key to obtaining settlements like this is experience.

My firm knows when to call, what to say (and what not to say), when a creditor is bluffing and when they are serious, and how to how to properly document a settlement so that it is in writing and therefore binding.

Contact us online or call (888) 298-1041 for help with debt negotiation. With locations in Milwaukee, Elm Grove, and Appleton, we serve clients in Milwaukee County, West Allis, Greenfield, Wauwatosa, New Berlin, and Brookfield.

How Does Attorney Sapinski Negotiate Debt?

My team at Sapinski Law Office, S.C. is experienced and professional, with a field-tested and proven system in place. I know what to do and when to do it: Knowledge + Presentation + Timing = Successful Settlement. Leaving your debt in the hands of my firm is the best way to achieve success!

Frequently Asked Questions About Debt Negotiation

Do I Need To Have All the Funds on Hand at the Time I Hire Your Office?

While it is best to have the necessary funds on hand when you hire me to represent you in a debt negotiation, many clients do not. Negotiation can take time. Some accounts may need to be settled right away, while other creditors are willing to wait.

You may have up to twelve months (or even more) to come up with the funds to settle with some of your creditors. I once had a client who was allowed up to two years to come up with money to settle with a particular creditor. In addition, I am often able to settle with your credit companies one by one so that you don't need to come up with all of the money you owe at once.

For example, let's say I have a client owes $10,000 to one credit card company, $10,000 to another, and $10,000 to a third. This means that his or her total credit card debt amounts to $30,000. One of the accounts may need to be settled right away - say in the month of January - for $3,000.

At this point, my client will pay a lump sum of $3,000, and $7,000 is forgiven. Then in March, we may settle the second for $3,000 and the remaining balance on that account will be wiped out.

Finally, we may pay the last one off in August for $5,000. In this example, the client would have saved $19,000 and paid only $11,000 over a period of 7 months. I will do whatever I can to get you the time you need to obtain settlement amounts.

How Much Money Will I Need To Negotiate?

Negotiation requires you to pay your creditors in a lump sum. My firm typically does not set up long-term monthly payment plans with your creditors when settling through negotiation. I will do whatever I can to buy you time so you don't have to come up with the settlement amount right away; however, once a settlement is reached, the terms of that settlement agreement will typically require you to pay a lump sum amount relatively quickly (within a few days or less).

You will not be allowed to pay the settlement amount over a long period of time, or through a long-term monthly payment plan. Section 128 is often a better option for clients who feel they need to set up a long term payment plan.

You should expect to pay anywhere from 20 percent to 70 percent of what you owe your creditors. The average amount is typically about 50 percent. Again, each creditor is different. I know of many creditors who will only want 20 to 30 percent of what you owe them, but a few may want as much as 70 percent of the balance that you owe.

Also, because debt negotiation allows you to eliminate your bad debt without bankruptcy, this may help your credit score. In some cases, you may also find you have an improved debt-to-income ratio after negotiation.

I often see people with high credit card debt who claim their credit is good because they are getting more offers from credit card companies, but in reality conventional sources of credit will penalize these individuals - whether through higher interest rates or limits on their credit terms - because their debt-to-income ratio is poor.

Many who have gone through my debt negotiation program have found their credit scores get into the high 600s or low 700s just twelve months after their debts were settled. Many of these individuals also followed my powerful credit restoration program to rebuild their rating. Contact my office today to ask about this revolutionary program.

When Should Someone Negotiate?

Credit card debt negotiation may be a better option for you than bankruptcy.

More Questions About Debt Negotiation? Reach Out Today

If debt negotiation seems like an option that might help you in your situation, don't hesitate to contact my firm and set up your free case consultation as soon as possible. Remember, while credit card debt is one of the easiest types of debt to resolve with debt negotiation,

I have been able to use debt negotiation on behalf of my clients to reach settlements with many different types of lenders. Don't think you need to wait until you have the necessary settlement funds before you can call my firm to discuss your options.

Call today and learn how my team can use our tried and true method of debt negotiation to help you find renewed financial freedom.