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Debt Settlement Services

What is Debt Settlement?

If your debt level is unaffordable and bankruptcy is not an option or you would like to prevent bankruptcy, debt settlement may be an alternative. Debt settlement (also known as debt resolution or debt negotiation) is where a creditor accepts less than the full amount owed and/or reduces the interest rate or monthly payments due.


Why Vannova Legal

The debt settlement attorneys at Vannova Legal are aggressive negotiators and will fight hard to settle your debt for considerably less than your outstanding balance. Installment repayment plans extending over many months are also negotiated. When you work with Vannova Legal, you are working with a licensed attorney that is skilled in more than debt settlement. He will review your case, provide legal advice as to the best course of action, provide you with periodic updates, and fight aggressively to settle your debt. Why Creditors Settle Debt settlement requires creditors and debtors to agree to a settled amount. Creditors will cooperate if they think they will do better with a settlement than garnishment or repossession. If they believe you are in a position to file bankruptcy they would much prefer to settle than receive nothing. What Types of Debts Can Be Settled Debt settlement is appropriate for most types of debt, particularly unsecured debt. Examples include:

  • Student Loans
  • Bounced Checks
  • Credit Cards
  • Medical Expenses
  • Payday Loans


Benefits of Debt Settlement

A loan modification is a re-structuring of your current loan term, interest rate, and/or payments. Occasionally, some of the principal balance of your existing loan may be forgiven and/or your loan term could be extended. These new terms are meant to provide you with an opportunity to stay in your home while making affordable payments for the life of the loan. It is a tool to help you avoid foreclosure if you are willing to make payments and have the income to sustain affordable payments.

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Meet Our Team

Jose L., Holladay, Utah
"Thinking about filing bankruptcy was the hardest thing my wife and I ever went through together...
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Diego and Mary C., Mesa, Arizona
"We were working with the bank to stop our foreclosure...
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Kathy H., Salt Lake City, Utah
"I was facing foreclosure and trying to do a loan modification on my own...
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