Debt Settlement

  • Debt Relief in Central FloridaDo you owe more than you earn?
  • Are you barely able to pay the minimum payments on your credit cards?
  • Are you receiving collection letters and other communications from creditors?

If you answered, “Yes,” to any of the questions above, then you should contact NeJame Law. Our Orlando Attorneys utilize a comprehensive, holistic four-step initiative to debt settlement.

Step 1 – Analysis

A potential client meets with an Orlando debt settlement attorney to discuss their overall financial situation to determine if non-bankruptcy, debt settlement is a viable option. Every client’s financial situation and circumstances are different. NeJame Law conducts an in-depth interview to discuss all aspects of the client’s income, expenses, unsecured and secured debts, objectives, and goals. Our debt settlement lawyer in Orlando, FL provides each client with a written, comprehensive, monetary analysis which describes the client’s potential financial exposure if (a) the client does nothing, (b) the client enters a credit counseling program, (c) the client enters a debt consolidation program, or (d) the client enters a debt settlement program and achieves certain debt settlement objectives.

Step 2 – Master Plan

If non-bankruptcy debt settlement is a viable option, the next step is for NeJame Law to work with the client in formulating and developing an individualized, custom master plan. This master plan acts as a road map which guides NeJame Law in the negotiation process with the client’s unsecured creditors.

Step 3 – Negotiation

Our experienced debt settlement attorney in Central Florida implements the client’s master plan by negotiating with the unsecured creditors. NeJame Law works diligently with each creditor to reduce the total outstanding balance of each unsecured debt and develop a repayment plan or lump sum settlement payment. In many cases, creditors will accept an amount ranging from 40% to 60% of the total outstanding balance of the unsecured debt as full settlement for the total outstanding debt.

Step 4 – Resolution

NeJame Law works diligently to settle all debts with unsecured creditors. Although no lawyer can guarantee any particular result or outcome, the NeJame Law does guarantee we will work aggressively on your behalf in attempting to achieve all or the goals set forth in the client’s individual, master plan.

Lastly, NeJame Law also offers credit repair counseling so a client can increase their credit score when the debt settlement process is over.

Do not wait another day. We urge you to immediately contact a professional, Florida Bar licensed attorney who practices in the area of Debt Settlement today. Be strategic. Be prepared. Have a plan.

What is "debt settlement"?

  • Debt settlement involves negotiating with creditors to accept a reduced amount in full satisfaction of the total outstanding debt. By way of illustration and not of limitation, if an individual owes $20,000.00, the attorney would negotiate with the creditor in an attempt to reduce the total outstanding debt to a reduced amount. In many cases, creditors will accept an amount ranging from 40% to 60% of the total outstanding balance of the unsecured debt as full settlement for the total outstanding debt.

How will a Short Sale affect my credit score?

  • It depends on several factors and varies. The lender’s will report the Short sale and the late payments to the credit reporting companies after the Short Sale. This could effect a homeowner’s credit score between 50 to 200 points.

Is the amount of debt forgiveness a taxable event?

  • A taxable event may be created in the forgiveness of debt if at the time of debt forgiveness an individual is solvent. Creditors will issue a 1099 to individual debtors for the amount of the debt that was forgiven in excess of $600.00. For a more definitive answer, individuals are strongly encouraged to consult with their accountant to discuss their overall, individual tax implications.

Are all individuals candidates for debt settlement?

  • The short answer “No.” An individual’s overall financial condition, their ability to repay their debts, the type of debt (secured versus unsecured), and other criteria factor into whether or not an individual is a candidate for debt settlement.

How long is the average debt settlement program?

  • This is a difficult question as the time frame involved in debt settlement is greatly predicated on the age of the delinquency. In other words, the longer the debt is delinquent the more willing creditors are in settling the debt.

Does debt settlement only involve unsecured creditors?

  • Debt settlement typically involves unsecured creditors, however, any debt can be negotiated and settled for an amount less than the total outstanding debt. Secured creditors are more likely to accept a reduced settlement if the value of the underlying security has decreased in value.

Contact Our Experienced Central Florida Debt Settlement Attorney

If you owe more than what you earn and can barely pay the minimum payments on your credit cards a non-bankruptcy debt settlement may be a viable option. Contact our Florida Debt Settlement Attorney today at (407) 500-0000 for an evaluation of your case! You may also fill out our online form or email us at and someone will contact you shortly.