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Debt Negotiation Law

Issue

 

The defendant, experienced financial hardships that prevented him from making payments to a large bank, the plaintiff, and was thereafter sued by the bank for the amount of $16,000.00.  Jacob had previously made attempts to negotiate a payment plan or a reduction of the balance with the plaintiff to no avail.  The bank would not listen to Jacob. Jacob then hired our office to negotiate with the plaintiff.

 

Resolution

 

After Jacob hired our office to negotiate with the plaintiff, we immediately made phone calls and sent correspondence to the plaintiff in an attempt to reduce the lawsuit amount which was Jacob’s ideal resolution in the lawsuit. After multiple communications with the plaintiff, our office was able to reduce the lawsuit amount to $8,000.00 - an outstanding 50% reduction in the original lawsuit amount. Furthermore, our office negotiated that the reduced lawsuit amount be paid over a period of 10 months so that Jacob did not have to make a lump sum payment which would have been detrimental to his financial situation.