Working It Out: An Alternative to Bankruptcy
At the law firm of Goldsmith & Guymon, our goal is to identify the best solution for relieving your particular business or consumer debt problem. Sometimes, bankruptcy simply isn't the best option.
Sometimes, the best option is to work directly with creditors to come up with a workable solution. Our attorneys have over a decade of experience that we can put to use to reach agreements with creditors and help you overcome your debt load.
Creditors Want to Work Things Out
Yes, creditors want you to pay your debts. They do not want you to file bankruptcy. If you file bankruptcy, they will lose money.
While they may be able to repossess property, they probably won't be able to resell that property for anything near what the loan was worth. While they may be able to get some money back from a bankruptcy proceeding, it probably won't be enough.
They want to reach the outcome that will be the most beneficial to them. This is true for both creditors and the IRS. We can work to persuade them that a creditor workout or tax workout is the best option.
Creditor Workouts
Workouts are most often used as a bankruptcy alternative for businesses. A negotiated debt plan can allow a business to keep the doors open without a complex Chapter 11 bankruptcy filing.
In certain circumstances, workouts can be used as an alternative to consumer bankruptcy as well.
Our experienced lawyers will work directly with creditors to come up with a creative solution. We will encourage your creditors to reduce the total amount owed, as well as the interest rate. We will develop a payment plan that works for you.
Tax Workouts
In both business bankruptcy and consumer bankruptcy, IRS debts are usually not dischargeable. Tax workouts are a powerful alternative.
Our attorneys will work with the IRS and make an offer in compromise. We will inform them that the debt simply cannot be paid in full. We will negotiate a reduced sum or a payment plan that will satisfy them and still be within your means.
Contact Us Today
Located in Summerlin, our law firm offers services to people in Las Vegas and throughout Nevada.
We offer creditor and tax workout services in both English and Spanish.
Call us at 877-262-1466 or send us an e-mail to schedule a meeting with an experienced lawyer.
