According to Forbes, nationwide, borrowers owed a staggering $1.75 trillion in student debt as of June 2022. In 2021, Experian reports that consumer debt across the board reached $15.31 trillion.
That same report reveals that, on average, Hawaiians carry approximately $138,274 in consumer debt. For those borrowers who are just trying to get by, it may feel like the ground is slipping out from underneath them.
Hawaiians may be able to save themselves from bankruptcy by seeking debt settlement relief.
At Blake Goodman, PC, Attorney, you can begin taking steps to regain financial freedom with our debt settlement and relief services.
A debt settlement lawyer at our office will review your financial situation and help you develop a plan to pay off your debt. Contact us today to get started.
Get Relief From the Stress & Strain of Debt Today
At Blake Goodman, PC, Attorney, we care deeply about the clients we serve, which is why we proudly offer comprehensive debt settlement services to help individuals avoid bankruptcy and become debt-free!
Chapter 7 and Chapter 13 bankruptcy are not the only options for our clients. When you turn to our firm for our debt negotiation and settlement services, our staff will take the time to review all your options so you can make the best decision for yourself and your family.
What Are Debt Settlement Services?
Debt settlement services are a way for you to pay off your debt and avoid bankruptcy. You can accomplish this in a couple of different ways:
- Reducing what you owe,
- Refinancing the debt,
- Filing for bankruptcy, or
- Taking out a different loan and using it to pay off your debt.
Everyone’s situation is different, and there is no one-size-fits-all approach to debt relief. That’s why it’s essential to weigh your options carefully and talk to a licensed professional.
Good debt settlement services communicate directly with your creditors on your behalf. In Hawaii, debt settlement companies operate illegally unless they are a law firm or are operating on a non-profit basis.
Blake Goodman at Blake Goodman, PC, Attorney, has experience as a certified public account (licensed 1988) and an excellent bankruptcy attorney. In fact, his work was published in the American Bankruptcy Institute.
Who Qualifies for Debt Settlement Services?
For most, debt settlement services are the last resort and done with the primary purpose of avoiding foreclosing on the debt or filing for bankruptcy.
You may be a good candidate for our debt negotiation services if you are truly struggling to make ends meet because of mounting debt from:
- Student loans,
- Credit card debt,
- Car loans,
- Medical bills,
- Mortgage payments,
- Personal debt, or
- Other consumer debt.
We can discuss your financial situation and advise you of what we believe to be the most appropriate strategy.
The Dangers of for-Profit Debt Settlement Services
For-profit debt settlement services are illegal in Hawaii and have been since 1967. Debt settlement companies—like National Debt Relief—that operate on a for-profit basis and aren’t a lawyer are operating illegally in Hawaii.
Companies may try to scam unsuspecting borrowers—people like you who are just struggling to make ends meet.
They promise quick-fix settlements and have no end of guarantees that your debt will disappear in days if you sign on the dotted line.
What’s worse, they may persuade you to stop making payments on your debts and assure you that if you pay them one fee per month and they will take care of the rest.
For borrowers who feel as though bankruptcy is imminent if things don’t change fast, their will to resist these practices may be overcome.
Instead of using the money to pay off the debt, the fraudulent companies pocket the cash or demand more.
How to Choose a Program for Debt Relief in Hawaii
When researching what debt settlement lawyer to hire, make sure that the firm you choose:
- Is a law firm with lawyers in good standing;
- Doesn’t make quick-fix guarantees to eliminate your debt;
- Charges reasonable or flat fees to handle your debt settlement case;
- Has a 100% satisfaction guarantee or your money back;
- Has extensive experience in bankruptcy and debt settlement; and
- Has earned stellar reviews from past clients.
The last thing you want is to rush into something to get the creditors off your back and create more problems for yourself.
With Blake Goodman, PC, Attorney, you get a team with decades of experience working exclusively in bankruptcy and debt relief.
Blake Goodman, the firm’s founding member, has helped over 8,000 people like you regain financial stability and agency. Our debt negotiation program is unparalleled.
We work with you and communicate directly with the creditors on your behalf to devise a solution that fits your situation. You don’t owe us anything if you’re not 100% satisfied with our services.
Consumer Credit Counseling vs Debt Settlement Plans
The debt negotiation services we provide at Blake Goodman, PC, Attorney is not the same as Consumer Credit Counseling. With Credit Counseling, you pay all your creditors back in full with an adjusted interest rate over 5 to 7 years.
We perform true Debt Settlement Plans, eliminating 40 to 60% of the amount you owe.
Many of our clients come to us after spending up to two years with a consumer credit counseling program. Usually, they find that they are no closer to being debt-free than when they started.
Their accounts are marked as seriously delinquent, and not all of the creditors agree to the management plan. In fact, some of them file lawsuits to collect what they are owed.
In many cases, consumer credit counseling programs generally increase your monthly payments until there is virtually no benefit from the program.
Our Debt Negotiation Program reduces your unsecured debt burden through direct negotiation with your creditors.
With our program, your creditors are contacted about your financial set-backs and offered a settlement deal in order to satisfy the balance of your debts.
If you qualify for the program, you can obtain significant settlements in interest and principal. You won’t need to file bankruptcy and you’ll still eliminate a vast portion of your debts in 30 months or less.
Benefits of Debt Settlement
There are numerous benefits of debt settlement, including:
- While you’re working to pay your debts, collection agencies and their attorneys are forced to deal with your lawyer instead of you.
- After a financial analysis of your situation, one monthly payment will be arranged for you in order to pay off your creditors.
- Most credit card debt accounts settle in a range of 30 to 50%.
Don’t keep struggling with overwhelming debt. We are here to help Hawaiians get out of debt and get a fresh start.
Don’t Hesitate, Take Control of Your Credit Card Debt Today!
If you don’t do something with your credit cards, the repayment burden can outlast even you.
If you take any credit card balance and just pay the minimum payment (usually 2%) and use an 18% interest rate, the repayment would last 24 years. That is correct, and that is without the penalties and extra interest charges assessed when you’re late.
More than 80% of the national workforce is dependent on two incomes due in large part to personal debt. However, creditors typically agree to debt settlement arrangements where they feel a settlement of the debt will be in their best interest.
In most cases, they come to this conclusion because the person requesting the debt negotiation appears to be a legitimate candidate for bankruptcy.
Knowing that in most bankruptcy cases they would receive nothing, they opt to take a discounted settlement on the debt rather than receive zero dollars in bankruptcy.
Call today or fill out our online questionnaire to set up a confidential analysis of your situation. We are ready to determine whether this powerful debt management tool could produce real financial and emotional benefits for you.
Our services include:
- Chapter 7 Bankruptcy,
- Chapter 13 Bankruptcy,
- Foreclosure Defense,
- Debt Settlement, and
- Tax Resolutions.
Why Do I Need a Lawyer to Settle My Debt?
While it is certainly possible for someone to negotiate or settle their own debts, we do not recommend it. Creditors take the situation much more seriously when a Hawaii bankruptcy lawyer contacts them on behalf of a client.
Most individuals also don’t know how to negotiate a debt settlement or what a proper debt settlement would be.
The debt settlement professionals at our firm know how to deal with individual creditors and understand the nuances of filling out financial forms. Our debt negotiation lawyers also know what to say, what not to say, what to ask for, and who to talk to.
Credit card settlements are best done according to the creditor’s standard operating procedures and formats. In our experience, most people have no idea how to go about following such debt solution procedures.
It is disturbingly common for debt collectors to try to pull industry tricks or potentially commit fraud in order to get you to pay off the debt in full.
Some of these things might include getting you to reveal information about yourself that you have no obligation to reveal.
In some cases, they might even ask you to send money for a “full settlement” only to find they have lied and simply taken the money on account.
How Can a Debt Settlement Attorney Help Me?
A debt settlement lawyer protects your rights and your financial future. An experienced debt settlement attorney provides immense benefits to you and your family during this difficult time.
Communicates with Creditors on Your Behalf
Many borrowers have gotten to the point where the phone won’t stop ringing, and it’s not a friend calling. It’s creditors. Some lending companies call consumers multiple times per hour throughout the day.
Once you have an attorney, the creditors should stop calling you and sending you letters. The debt settlement attorney talks to the creditors on your behalf, giving you peace of mind.
Reviews Your Lending Contracts
A debt negotiation lawyer reviews your lending contracts and the applicable law to understand and protect your rights.
Shields You from Fraudulent or Unscrupulous Lending Practices
Creditors may try to scare you by using legal jargon or misrepresenting the contract or the law. Having an attorney on your side provides much-needed clarity, mediating the communication between you and the creditor.
Negotiates a Fair and Reasonable Debt Settlement Strategy
It doesn’t have to be all or nothing when it comes to debt settlement. A reasonable debt settlement attorney in Hawaii works with you and your creditors to tailor a common-sense plan for debt settlement in Hawaii.
Blake Goodman, PC, Attorney is Here to Help
Our debt settlement and bankruptcy attorneys provide compassionate and comprehensive debt settlement services for Hawaiians who qualify for our program. We understand that you are only human, and you want to regain your financial security.
Everyone needs a little help sometimes, and we strive to provide that to our clients by offering debt negotiation services.
Our law firm includes seasoned bankruptcy and debt settlement lawyers who have helped thousands of clients in your situation.
We are Hawaii’s largest bankruptcy filer, bringing a wealth of experience to the table. Plus, we won’t charge you a dime for our services unless you are 100% satisfied. Contact us today to get started.