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Hoorfar Law: What We Do - Debt Settlement

Debt Settlement

How We Can Help

The Law Office of Camron Hoorfar, PC can help you reduce or eliminate your unsecured debt, including credit card debt, medical bills, and charge cards. We help settle debts in Missouri, Kansas, and Oklahoma.

If your monthly debt payments are getting to be unbearable due to a loss of income, health reasons, increase in interest rates, or other reasons, then allow us to help. We contact your creditors on your behalf to help reduce your debt by offering your creditors less than what they claim you owe.

Debt Settlement Basics

Debt settlement, also known as debt arbitration or debt negotiation, is an approach to debt reduction in which the debtor and creditor agree on a reduced balance that will be regarded as payment in full. A process of negotiating with creditors to accept payment that is less than the full amount of the debt owed.

In a debt settlement program, funds accumulate in a special account until enough money has been saved to pay off one creditor, and then the process repeats until the debts have been repaid at a reduced amount.

Debt settlement programs help individuals avoid filing for bankruptcy by contacting their creditors and reaching a settlement in regards to their debt.

Creditors, such as credit card companies, banks, and hospitals, are business savvy. They know that the value of $10.00 today is greater than the value of $15.00 paid six months from now. For example, in a Chapter 13 bankruptcy, a repayment plan for a creditor will often be extended over a period of 3-5 years. Creditors also know that some amount of money paid today is better than zero payment in the future, especially if bankruptcy is on the horizon where debts may be discharged or reduced.

Alternatives to Repossession

Contact the Law Office of Camron Hoorfar, PC in order to stop your repossession and save your vehicle, appliance, furniture, jewelry, or other property. We may be able to help your keep your property using bankruptcy or debt negotiation.

Frequently Asked Questions

What accomplishments has Hoorfar Law achieved in the debt relief/bankruptcy area?

From 2015-2016, assisted in settling over $11.7 million in debt, and have discharged over an estimated $41.1 million in debt in bankruptcy.