Debt Restructuring Lawyer Tampa Florida

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Debt Restructuring Lawyer Tampa Florida

As a debt restructuring lawyer Tampa Florida residents turn to, we know that struggling with debt can be all-consuming.  Facing excessive debts can be draining.  Realizing there isn’t enough money in your household budget to manage the bills, you may find yourself staring at your bank statements trying to figure out how to make 1+1 = 5 or using one loan to pay for another.  These challenges creates a spiral of debt build-up and personal stress. For many, the stress of these debts can impact your personal and work life. Ziegler Diamond Law: Debt Fighters, is a Tampa Florida debt restructuring lawyer who can assist you in answering your questions and tackling the pressures that can come with financial issues. 

What is debt restructuring?

Debt restructuring usually involves negotiating with creditors to arrange payment for debts with creditors.  The goal is to work with the creditors in a way that is in their mutual benefit.  After all, they can’t get blood from a stone, so it is better to find common ground around what you can afford. 

Debt restructuring can also be done in the context of a chapter 13 bankruptcy where a consumer files a plan to re-organize and reduce their debts based on on their budget.   

Will debt restructuring impact my credit?

In most instances, debt restructuring presumes that the consumer is behind on their debts.  Most creditors will not consider a restructure unless a loan is behind.  Falling behind on debt on debt does have a negative impact on credit.  Furthermore, a debt that is settled for less than full value is not as good for credit as a debt that is paid in full.  However, a settled debt is generally better for credit than a debt that is behind which continues to have an outstanding balance (even if it shows charged off).

What are the signs that I might need to consider debt restructuring?

Our Tampa Florida debt restructuring lawyer knows that it can be challenging to come to terms with the fact that there is a problem. However, we know that if you are struggling financially due to your debts, it’s likely that you are aware that you will need to assess your options. If you are unable to make minimum payments on your debts, or your debt is more than the income you are bringing in, you will want to consider consulting with our Tampa Fl debt restructuring lawyer about how best to move forward. 

What role does a Tampa Florida debt restructuring lawyer play?

There is one critical component at play when it comes to debt restructuring, negotiation. This process can be challenging to consider without a skilled lawyer who can keep your rights and interests at the forefront of the process. Debt restructuring allows people to avoid loss of their assets by making reduced payments at a better rate. Debt restructuring can be incredibly successful, especially with an experienced lawyer by your side. They will review your specific situation and take the time to negotiate a change in the terms which may result in reducing the total debt that you may owe. If you are considering debt restructuring, contact our Tampa Florida lawyer at The Law Office of Michael A. Ziegler, P.L, to get started. 

As someone who is feeling incredibly overwhelmed by debts, we know that you are looking for relief. The Law Office of Michael A. Ziegler, P.L. can help to finally restructure your debts so that you can get back on your feet again. Our lawyer can not only help protect your rights during this process but also provide you with the relief that you deserve. For more information, contact our Tampa Florida debt restructuring lawyer to schedule an appointment.