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Janet K. Hong and Derek Hong are the founding partners of Hong Law, PLC

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Home  >  Marion  >  Debt Negotiation

Marion Debt Negotiation

Millions of people struggle with their debt in the U.S. In fact, some organizations estimate that around 80% of Americans hold debt of some kind. Fortunately, when this debt gets too big to be managed, however, people do not have to face this difficult situation alone.

There are many options for reclaiming financial stability, including debt negotiation. Debt negotiation differs from bankruptcy, as it involves working out a new payment plan or negotiating the amount of debt with creditors and the help of an attorney, allowing a person to repay debt without having to declare bankruptcy.

Several Options

Debt negotiation offers several different options for those who are wishing to explore this form of debt repayment. For example, debt negotiation may be pursued in the following manners:

  • Lump-sum debt repayment
  • Decreasing overall debt amount with creditors
  • Extending a payment period to give you more time
  • Changing interest rates on existing debt

All of these options can make debt repayment more manageable for those who want to get rid of their debt without having to file for bankruptcy directly.

Contact Us

It is normal to struggle with debt, but your struggle does not have to be on your own. In fact, with the help of an experienced lawyer from Hong Law, PLC, you can potentially work with creditors to find a more manageable way to repay your debt. Learn more about this beneficial process and the options that are available to you when it comes to negotiating debt by calling (319) 294-5853 today.

Iowa City and Coralville Office Location: 845 Quarry Rd #130
Coralville, IA 52241
Phone: (319) 354-1804
Map to our Coralville Office