Debt resolution is the process of negotiating with creditors to repay the outstanding debt in a manner that is agreeable to all parties. Debt resolution includes:
- Debt negotiation with creditors is a means of renegotiating the terms of the loan or debt, such as reducing interest rates or extending repayment time.
- Debt settlement is when a debtor agrees to surrender all rights to whatever property they currently have and, in return, receive an agreed-upon payment from their creditors.
- Debt relief reduces some, but not all, of an individual’s debt burden.
Debt resolution lawyers negotiate settlements, mediate disputes, and represent clients before bankruptcy courts, state courts, and federal courts. A debt resolution lawyer also helps clients find alternatives to bankruptcy, such as a consumer proposal or debt management plan.
Diment & Associates specializes in this area and has experience in business law and bankruptcy. Our debt resolution lawyers may represent you in bankruptcy proceedings, negotiations with creditors, and other forms of litigation. Contact us today to book an appointment and learn how we can help you.