In certain circumstances bankruptcy may not be the right pick for you. Perhaps you have very little debt and don't wish to undergo the process of bankruptcy or you have assets and income that make bankruptcy unattractive. Perhaps you feel the need to pay off your creditors in some fashion even if not in full. Fortunately there are other alternatives that our firm provides.
This is where you negotiate with your creditors to pay lesser sums of money on your debt to satisfy the obligation to your creditors. As there is no court process this is an interaction between you and your creditors. Once an agreement is struck you will pay that amount you owe as either a lump sum or in installments. The deficiency of what isn't paid is typically reported as 1099C taxable income to the IRS. This type of debt resolution isn't for everybody and works best if you have the funds to do the payments.
We have done this type of debt resolution many times and can handle the negotiation for you as well as the necessary paperwork to secure the settlements. Our fees vary depending on the volume of work in each particular case but are often comparable to a chapter 7 bankruptcy.