The Law Office of Bonnie L. Canty, P.A has proven experience in negotiating down a realistic settlement amount that fits our clients’ needs. Debt settlement is often misrepresented or understood. It is not right for everyone but it is a good option for some. Certainly everyone would rather pay twenty, forty even seventy percent of the debt they owe rather than pay the full amount, particularly when much of the balance is attributable to late fees, interest and penalties. Settling a debt is often the reality of litigation but there are times other than as part of negotiations in defending a lawsuit that debt settlement is appropriate and useful. There are essentially three methods of settling one’s debt as different plans work for different people.

There is, of course, the money in hand approach. A client has come into some money and wants to now negotiate with the creditors a bulk settlement amount. Next is a settlement payment plan which would allow you to make monthly payments into savings until an agreed settlement amount is reached and your creditor(s) can be paid with one bulk payment. The last option is one negotiated with a limited payment plan. This usually would require several larger payments to be paid on a settlement amount over a short period (usually 3 months).

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