Doing nothing changes…….Nothing.Request Your Legal Consult Here.
Debt Resolution & Mediation
legIf you have been struggling with large amounts of debt, or have been unable to make your monthly payments, you may feel like you are alone. Although this situation can be very stressful, you do have options.
One of the best things you can do to avoid liquidating your assets or declaring bankruptcy is to negotiate with your creditors. However, this can be very intimidating experience for many people. This is when a skilled finance attorney can really help.
David Soble and his legal team are highly skilled and knowledgeable attorneys who can negotiate with your creditors for you.
How can Debt Mediation help?
You may feel like talking to your creditors won’t do any good when you are overwhelmed with missed payments, but it’s actually one of the easiest ways to make your debt more manageable.
Many creditors will be willing to settle for a smaller sum or will be willing to give you more time to make your payments. There are many different tactics you can use. If there’s been an extenuating circumstance, like a family emergency, that’s been causing the missed payments, creditors may be sympathetic to that and be willing to give you a little more time to get back on your feet. If you have a steady income, you may be able to negotiate a scheduled payment plan that you can afford. If you have assets that you are willing to sell, they may be willing to lower the overall amount of debt slightly for a lump sum payment. Everything is dependent on your individual situation.
Common Forms of Debt
There are many different types of debt and each needs to be negotiated differently. The most common forms of debt are:
Credit card debt: After a certain amount of missed payments, many creditors will be willing to accept a settlement for less than you owe, as it is less costly to them in the long run.
Car loans: Many car loan companies are willing to give you more time on your payments, depending on your situation. Timely communication is key.
Mortgages/home loans: There are many strategies for negotiating real estate debt, however, you will need a real estate lawyer. David Soble also offers real estate law services.
Medical debt: Early negotiation is key with medical debt. You may be able to get a discount on your bill with a down payment or set up a payment plan.
Student loan debt: Student loans can be very difficult to negotiate, but with some expertise, you may be able to convince your lenders to accept delayed payments, giving you more time.
Before you approach your creditor, bank, or speaking with a ‘debt settlement’ company, consider speaking first with attorney David Soble and his legal team. Short of filing bankruptcy, debt mediation by an attorney like David Soble and his legal team, is an excellent way to approach creditors.
Are You Experiencing A Financial Crisis?
Call Us For Your Consult.
At 855.587.1710 or
Complete This Form.
DEBT RESOLUTION & MEDIATION
Frequently Asked Questions
Top Debt Resolution Questions
WHAT ABOUT WORKING WITH A DEBT SETTLEMENT COMPANY?
Has a debt settlement company asked you to stop paying your bills?
Consider what will happen if you stop paying your bills:
1. You will incur late fees, penalty interest and other charges. Creditors will be angry and likely step up their collection efforts against you.
2. Debt settlement companies may settle some of your debt initially, but the penalties and fees of past payments will add to the debt and your responsibility.
3. The effect on your credit score and your future use of credit.
4. Creditors may bring a lawsuit against you while settlement companies are waiting for an amount they can use to negotiate.
5.Settling debts results in taxable income. (Make sure you speak with an attorney about 1099-C).
Only licensed attorneys can represent your legal interests. Don’t be an ‘enemy of your own money.” Call us before you sign any ‘debt settlement’ agreement.
WHAT ARE SOME 'RED FLAGS' I SHOULD LOOK FOR WHEN BEING CALLED BY A DEBT SETTLEMENT COMPANY?
You should avoid doing business with any debt settlement company that promises to settle your debt if the company:
1. Charges any fees before it settles your debts;
2. Touts a “new government program” to bail out personal credit card debt;
3. Guarantees it can make your debt go away;
4. Tells you to stop communicating with your creditors;
5. Tells you it can stop debt collection calls and lawsuits;
6. Promises you guarantees that your unsecured debts can be paid off.
I NEVER SIGNED AN AGREEMENT THAT I AM NOW BEING SUED OVER. CAN I BE HELD LEGALLY LIABLE?
Even if you feel that you did not enter into an agreement, a court may find that you are bound by a contract pursuant to the legal doctrine of ‘promissory estoppel.” The court will determine if (1) a legal relationship either exists or is anticipated between the parties, (2) representations are given in circumstances that lead the other party to assume the promise will be performed, (3) reliance by the other party on the promise or representation to their own detriment, and (4) it would be unconscionable for the promisor to go back on their promise.
WHY USE AN ATTORNEY INSTEAD OF A DEBT SETTLEMENT COMPANY?
While you can negotiate with creditors yourself, it is highly recommended that you use a lawyer.
Experienced finance attorneys have an extensive knowledge of the laws and regulations surrounding debt and credit usage, and they will be able to use this to your advantage.
When it comes to going up against a large bank or credit card company, only a licensed attorney can provide you with legal advice about the federal and state legal protections available to you.
Experienced attorneys will ensure that legal proceedings are fair and that creditors are not hassling you unlawfully.
Lawyers also have extensive experience in the practical dealings with creditors. They know what options they will be most likely to settle for and how to get you the best deal quickly and efficiently, so that you can stop worrying about your debt and can work to pay it off quickly.
A Word Or Two debt resolution and pressing debt issues.
Free EBook Offer
Obtain Your Free Copy of Soble’s Newest Contract Resource:
How To Protect Your Legal & Financial Interests When Doing Business With Family Or Friends
Now you can reference Soble’s straight forward approach to contracting and forming agreements between family or friends. Filled with case studies and legal commentary that is easy to comprehend, relatable, and instructive.
“I wish I had this book before I got into business with my good friend and his sister. It all seems good until it isn’t. David hit the nail on the head. I read the book and found myself nodding my head the whole time. There are so many things that I could have done to protect my assets. I’ll say it again. I wish I had this book…..” B. Abrams, Brownstown
“David, I just finished reading your book, “Shady.” I enjoyed it. It made me think of my business law studying for the CPA exam. Thanks.”
John. B., Birmingham, MI
Why Clients Choose Us
Know the Difference.
Former Big Bank "Insider"
HigHest Peer and Client Ratings
24 Hour Response
30 +Years of Legal & Business Experience
Affordable & Approachable
Innovative & Creative solutions
Other Legal Issues We Handle
We Reduce Legal Exposure & Financial Risks
Real Estate Law
Real estate and finance law are their own legal specialties. So how do you determine which attorney you should work with...
Contracts regulate expectations between parties. Working without a contract is comparable to walking a high wire without a net.
David Soble has decades of experience being a 'big bank insider." He and his team are uniquely situated when it comes to handling our clients stressful financial...
We regularly and successfully litigate real estate and contract issues. While we prefer to first resolve our client's issues amicably, we can and will escalate....
To most people, their home or other types of real estate is usually the most valuable asset that they own. We help our clients protect these assets and ensure that they are properly...
What Happy Clients Say...
Dpn't take our word for it! We;re one of the best reviewed law firms in the community.
See hundreds of our reviews on Google, Avvo, Social Survey and Linked In.
David, I anguished for months over my problem. Had I not called you, I don't think I would have gotten it resolved. In less than 2 weeks you negotiated a fair settlement for my business. I'm so happy and my employees are happy. Thank you!
Rhoda St. Luce
"Attorney David Soble lives up to his firm's namesake, "Proven Resource." I appreciate knowing that when my clients need a diligent and responsive real estate or contracts attorney, I can easily make the referral to David, David is well worth having on your side."
Financial Adviser, Brighton, MI
"David is a highly reliable resource for real estate and lending cases. As a real estate lawyer and successful investor, he not only "talks the talk," but also "walks the walk," providing his clients unparalleled insight on how the law directly affects their daily business success. When "the situation is critical" call David."
Environmental Attorney, OH
"David Soble is an unmatched resource for all things related to real estate finance and law. He's dealt with nearly every type of transaction, loan, property, lender, seller, and buyer. He's seen it all and knows the intricacies of creating a successful resolution for his clients. If you need creative and determined counsel, I highly recommend David."
Business Mgt. Consultant
"As a busy small business operator, I can tell you that David's legal efficiency and his sensitivity to our financial resources is very much appreciated. His real estate advice is spot on and I know that when working with him that I am getting a great return on my investment. When in doubt, call David. He's worth every penny!"
HVAC Owner / Operator
"If you have a legal problem with your bank loan or mortgage, you can't go wrong by calling David Soble. His legal experience in the real estate and lending community is exceptional. I have had only positive experiences. His approach to client service is an added bonus."
Our Latest Blog Posts
Is a Mortgage Modification Right for You? These are unusual economic times to say the least. Are you behind in mortgage payments? Is your lender threatening foreclosure actions against you? Waiting on your lender to reach out to you with help is not going to...
James from South Lyon wrote in last week. He and his wife are buying a new construction home in South Lyon, MI. They are having a major disagreement with the builder about the integrity of the foundation. They don't want to move forward and they want their $55,000...