Debt settlement is a process where you pay less than the amount you owe in order to settle a debt. This can be an extremely effective tool for credit card debt and medical bills. Most hospitals and credit card companies are willing to settle for a small fraction of what is owed, rather than get nothing in a bankruptcy or spend the legal fees required to take you to court. Individuals with financial problems who choose not to file bankruptcy should consider debt settlement. Debt settlement may damage your credit score, but if you are unable to pay your debt, your credit score is either already ruined, or soon will be. To settle your debt, the first thing we do for you is determine whether you really owe the debt. Often times, we find that credit card companies have added late fees, penalties, and interest that may not be collectible in court. Unlike “debt settlement companies,” you decide which debts to settle and what to pay. When we settle a debt on your behalf, you pay the amount agreed upon to the creditor according to the terms of the settlement, usually for a small fraction of the original amount owed. This process has been successful for clients that owe hundreds of dollars on a credit card to businesses that owed millions on unpaid contracts. Phillips Law Firm, Inc. helps individuals and businesses with debt settlement by negotiating with creditors, defending against collection lawsuits, and working with your unique financial situation to obtain the best result for you. We have the experience, legal training and knowledge of the business to assist you with settling debts.