Debt Negotiation as an alternative for bankruptcy filing For Individuals or Corporate Clients who do not want to file for Bankruptcy or do not qualify, for a number of reasons, for the Bankruptcy filing our office offers a Debt Negotiation Alternative. This process entails out of court settlements which require a lump sum payments to creditors in order to close the account with them. We negotiate with each and every one of your creditors for the lower settlements. Based on our past performances the settlements can be anywhere from 25% - 50% of the originally owed debts. Candidates for the Debt Negotiations need to understand that they will have forgiveness of debt income, unless they qualify for the IRS exception. This means that unless your accountant is able to use some exceptions you will be liable for paying tax on the amounts that your debt is discounted for. Please contact our office to discuss Your particular situation in more details.