The Oliver Law Group
The Oliver Law Group
» Why Work with a Law Firm?
» The Debt Forgiveness Process
» Repairing Your Credit

Avoiding Bankruptcy

Why is debt forgiveness a better alternative than bankruptcy for many clients?

A personal bankruptcy filing:

  • Impacts your credit score and stays on your credit report for 7 to 10 years.
  • Makes qualifying for loans and credit difficult for 3 to 4 years.
  • Does not erase every kind of debt.
  • Makes property vulnerable to being repossessed if creditors hold a lien.
  • Can jeopardize retirement funds – Though 401k retirement plans are protected from bankruptcy, any amount beyond $1 million in an IRA account can be tapped by creditors to pay debts.

Instead of a bankruptcy on your credit record, we seek reporting of the negotiated to $0 debt as “ZERO BALANCE PER SETTLEMENT,” “PAID AS AGREED” or “PAID WITH A $0 BALANCE.” This result can put the “healing” of you credit score on a much faster track.

In the process of obtaining debt forgiveness, you may decide to make fewer or no payments to your creditors. If you do so, there is no way to avoid a negative impact on your credit. However, after successfully negotiating debt forgiveness, credit scores and loan eligibility can typically be rebuilt in 2 to 4 years – much faster than after bankruptcy.

Debt Forgiveness -
A successful business owner whose line of credit was reduced by his bank when the economy soured and who turned to credit card debt for working capital to keep his company going…

A family whose medical bills turned their financial picture upside down…

A young couple whose job loss made tapping credit cards a must….

These are not “hypothetical” scenarios. They are true stories of this Firm’s actual clients.

The Oliver Law Group helps clients cope with hardships that have sapped their ability to meet financial obligations. Our goal is to save clients money by gaining forgiveness of as much of the debt as possible.

This Firm negotiates on your behalf from a position of strength. Our senior settlement negotiators have settled thousands of accounts representing tens of millions of dollars of debt. All of our law Firm’s Senior Negotiators have more than 10 years of experience.

The Oliver Law Group