Non-Bankruptcy Debt Solutions
Bankruptcy can be a powerful tool to help free you from debts that have gotten out of control. As we all know, a single long-term illness, period of unemployment, or a divorce can lead to you losing control of your finances. It can take months or years to get back in control of your finances.
At Koenig|Dunne, our bankruptcy team only advises filing for bankruptcy when it is your best or only option available to you to address your financial situation. In some instances, a bankruptcy can be a safety net if other non-bankruptcy options like a workout or debt settlement are unsuccessful.
Debt Settlement and Work-Outs
Most people think that filing a chapter 7, chapter 11 or chapter 13 bankruptcy is the only way out of debt. At Koenig|Dunne, we provide full-service debt relief plans, including debt settlement and work-outs.
A workout is a non-bankruptcy debt solution that allows businesses and individuals to re-work debt payment plans and loan schedules to avoid filing for bankruptcy. The Koenig|Dunne bankruptcy team has extensive experience working with commercial and non-commercial creditors to achieve and regain financial freedom for our customers.
A debt settlement is a negotiated agreement with creditors that are mutually beneficial. You benefit because you are eliminating or reducing your debt. Your creditors benefit because they may receive more money than if you declared bankruptcy. This feature serves as a powerful bargaining tool that motivates creditors to agree to non-bankruptcy debt repayment plans.
Howard Duncan has successfully negotiated non-bankruptcy workouts and debt settlements with creditors in Nebraska and across the country for more than 35 years.
Contact our office to schedule a consultation with an attorney to discover your options.