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How Does Debt Negotiation Work?


A client retains Matthew Mazur, P.A. to represent them in a debt negotiation with their creditors that are owed past due balances on unsecured credit accounts.

For example, a client owes a credit card company $15,000.00 and the account is in collections account for non-payment.

We will negotiate with the creditor to obtain a payoff amount on behalf of the client that is acceptable to our client and to the creditor. For example through negotiations we are able to reach a tentative settlement of the account for $7,500.00. (We require the creditor to provide us with confirmation that they will agree to accept the lower payoff as a “final settlement” on the outstanding debt.) This settlement proposal is provided to the client for approval.

The client has the ultimate decision as to accept or reject the settlement proposal. If accepted, this settlement proposal becomes a binding agreement. This agreement, if fully satisfied by the client, allows the client to pay the negotiated reduced payoff amount by a specified date.

Matthew Mazur, P.A. will have obtained the client in this example a reduction of $7,500.00 from the original $15,000.00 owed to the creditor. The total actual savings to the client obtained through Debt Negotiation will be:
Debt Reduction Obtained $7,500.00
Up Front Non-Refundable Retainer fee* -$600.00
Flat fee per debt Negotiated -$300.00
Total Actual Savings to Client $6,600.00

*The Up Front Non-Refundable Retainer Fee of $600.00 and retains our firm to negotiate on behalf of the client with 5 of their creditors. For each creditor a client has above 5, the initial retainer is increased by $50.00. As such, if a client has 6 creditors they wish to have the firm negotiate with, the Up Front Retainer will be $650.00.

The above example is for demonstration purposes only and does not reflect the savings in every case. Each client and case is different and the ability of our firm to obtain a reduction in the debt owed is case specific, dependent upon the client’s debt situation. We cannot guarantee the outcome of any case we handle, but we can guarantee that we will put forth our best efforts to obtain satisfactory results for our clients.

Matthew Mazur, P.A. is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Copyright 2015 Matthew Mazur, P.A.

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