Legal Question in Credit and Debt Law in Georgia

Debt negotiations
I have a couple of credit card debts that I would like to get out of the way that total $20,000. I've heard that if I hire an attorney rather than those TV credit specialists, he/she could negotiate a settlement to as low as 35% as long as I paid the settlement in one lump sum immediately. Is this common? Also, how long does it usually take for the creditors to respond with a counter offer once my attorney informs them of my offer? A friend told me that creditors want their money asap, so they usually will respond within days, whereas I've also heard that creditors may take months because of backlogs. What is your usual experience with these matters? Thanks.

Asked on 9/03/08, 5:37 pm

Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

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Re: Debt negotiations

Such cases often take months, and there are adverse tax consequences. Initially you may do better working with Consumer Credit Counseling of Atlanta.

Answered on 9/03/08, 7:17 pm

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