During your initial call to our firm you will speak with a qualified debt relief program enrollment facilitator. The facilitator, under supervision of our attorneys, will work one-on-one with you reviewing your debts and helping you determine if a debt settlement program is the right solution for you. During this confidential review, the facilitator will explain the forms you need to complete and sign in order to retain our legal counsel.
Please have available the following documents:
- Credit Card Statements
- Monthly Bills (rent, electricity, gas, etc.)
- Banking information (savings, checking)
Complete and return the required documentation and agreements to your adviser; one of our attorneys will review your case to insure you are fully qualified for the debt settlement process.Once enrolled into the program, each of your creditors will be notified that you are being represented by the Bay View Law Group and reminded that federal law, as well as the rules of the legal profession, requires that the creditors and their attorneys cease contact with you and instead direct all communications to our firm. Once you have retained our firm, you are required to keep a journal and to make an entry each time a creditor calls you.
Working with your debt settlement program enrollment facilitator, you will determine the monthly payment that will comfortably fit into your budget. These funds are drawn from your provided checking account monthly via ACH and deposited into a trust account - used to negotiate down your total debt amount - which begins to build after your fourth month in the program.
We will communicate with your creditors, notifying them that you intend to pay as much as you can afford toward your debt. The debt negotiation team’s expertise allows them gauge the lowest possible amount the creditor will be willing to accept as a discounted settlement. The actual debt negotiation occurs once sufficient funds are available in your escrow account to complete a settlement with a creditor based on all of our communications between you and our contact with the creditor. Once the settlement is reached, the funds are drawn from the escrow account and paid to your creditors directly.
The process then continues as the Law Firm negotiates with all remaining creditors until your total debt is resolved.
