New Jersey Debt Settlement Attorney
What Types of Debts Can Be Settled?
When it comes to debt, there are two categories: unsecured debt and secured debt. Secured debt is a type of debt that is tied to an item of property, such as a house, car or land. Secured debt is not a type of debt that can be resolved with debt settlement.
Unsecured debt is a type of debt that is not tied to any item of property. People who are looking to go through the debt settlement process will most likely be hoping to settle their unsecured debts. A New Jersey debt settlement attorney should be consulted if you are looking for debt relief. Unsecured debt includes, but is not limited to:
- major credit card debt
- medical bills
- student loans
- department store credit card debt
- bounced checks made to creditors
- personal loans
New Jersey Debt Settlement
Debt settlement is a process that occurs when a borrower and creditor negotiate with one another to resolve debts the borrower owes. During negotiations, the debtor will try to get the creditor to reduce the balance that is owed. Once the creditor and the borrower reach an amount they both can agree on, the borrower must pay that amount in full within a set period of time. Often times, people find it is in their best interests to work with a legal or financial professional, like the professionals at Liberty Credit Law, P.C., when they want to move forward with the debt settlement process.
Financial security may be only a phone call away! Contact a New Jersey Debt Settlement Lawyer to find out more about all of your debt relief possibilities!
Liberty Credit Law, PC is a law firm based in Horsham, PA with associate attorneys in multiple states where it accepts clients.