Negotiating Settlements in Jacksonville, FL

Restructuring Payment Plans & Negotiating Debt

The attorneys at Owenby Law, P.A. have unsurpassed levels of experience and success when it comes to negotiating down existing debt and restructuring payment plans. We have an established reputation as tough negotiators and knowledgeable credit law attorneys—a reputation that carries weight with the major credit lenders and bankers. If you have come to the realization that you are unable to pay back the money that you have borrowed, and you cannot keep ahead of your monthly bills, contact our office to discuss your personal financial situation.

How Settlement Negotiations Work in Florida

When a bank, mortgagor, or credit card company gives a loan, it is doing so with the expectation that the principle and interest will be repaid in full, but also with the awareness that this does not always happen. In cases where they cannot recover the full amount of the loan, lenders will attempt to recover partial repayment. In other words, getting something back is better than getting nothing at all. In order to avoid the time and expense of trying to collect the entire balance of a delinquent debt, lenders will sometimes accept a percentage of the total amount remaining.

Other times, they will allow the payments to be reduced and extended over a longer term so that they are more affordable to the borrower. In the cases of collateralized loans, lenders will often forgive or reduce the debt in exchange for the return of the property. Jacksonville bankruptcy lawyers at Owenby Law, P.A. are familiar with the guidelines that dictate how much of a reduction a lender will settle for. Once we understand your situation, we can begin negotiating a settlement with your creditors. Lenders are usually more forthcoming with professional debt counseling lawyers.

Call Owenby Law, P.A. for the Help You Need

When circumstances beyond your control make it impossible to adhere to the terms of a loan, Owenby Law, P.A. can negotiate a settlement for you. Contact the attorneys at our law office to schedule your free consultation. You can reach us at (904) 770-3141.