Debt negotiation means working directly with a lender or creditor to restructure what is owed: a reduced payoff, a payment plan, a forbearance, a lien release so a property can close, or a short sale approval. Having an attorney make the request often changes both the tone and the outcome.
What this covers
- Short sale negotiation and closing
- Payoff and settlement negotiation
- Judgment and code enforcement lien releases
- Forbearance and payment arrangements
- Disputing what is actually owed
- Clearing liens that are blocking a closing
Creditors are far more willing to negotiate than most people assume, particularly where the alternative is a slow collection process with an uncertain recovery. We handle payoff and settlement negotiations, payment arrangements, forbearance requests, disputes over what is actually owed, and the release of judgment liens and code enforcement liens that are blocking a closing.
Real estate is where this comes up most often. A title search turns up an old judgment, a contractor’s lien or an unreleased mortgage, and suddenly a deal that was ready to close is not. We negotiate those out. We also handle short sale files end to end — the lender package, the approval conditions and the closing — where a property is worth less than the mortgage against it. If the right answer is bankruptcy rather than negotiation, we will tell you that straight and point you to counsel who handles it.