Unsecured and Secured Debts
Creditors define debts as a secured debt or unsecured debt. If you have secured debt, this means the debt is attached to something like a home or a car. The asset serves as collateral for the money you owe lenders and can be seized if you become delinquent in paying back the loan.
On the other hand, if you have unsecured debts, the money is not linked to a specific asset. Creditors often work with bill collectors or file lawsuits to try collecting money owed to them from unsecured debts.
If you are feeling overwhelmed from unmanageable levels of debt, options are available to help you get a fresh start. We can help you do this without filing for bankruptcy. Before focusing on debt relief, attorney Alivia Kassab Arabo provided in-house legal counsel to LaSalle Bank/Bank of America. She knows how to break through the bureaucratic walls in the banking industry so deals can be negotiated in her clients’ best interests.
See What Our Clients Are Saying
As soon as we met with Alivia, we knew our case was in good hands and everything will be okay. She did not disappoint and literally saved our financial life. As soon as you speak with her, you will realize that she is a person of high professionalism, honesty and integrity who will fight hard for you to achieve the desired outcome. I highly recommend her services.
The best attorney we ever dealt with
We retained Alivia when going through a mortgage refi. She and her staff are excellent. They kept us informed and encouraged us to contact them every week either by e-mail or phone so we would be kept up to date. They always returned our calls and answered all our questions and where able to shave many points from our interest rate and got our 2nd mortgage down to a fraction of what we owed.
Alivia did an awesome job with everything and only discussed the important things with me. At first I was concerned with this, but as I got to know her, I arrived at 100% trust in her which allowed me sleep comfortably at night. I also quickly determined that integrity and respect were top on her list. She made it very clear right from the start that everything would be black and white with absolutely no grey areas in between. Keep up the good work Alivia
Despite what many borrowers believe, most foreclosures do not result in a judgment against the borrower personally. There are several steps that a bank must take in order to obtain a deficiency judgment against a borrower. An evidentiary hearing must take place to determine the amount of the deficiency, and in order to proceed, it must be shown that the value of the sale is less than what the borrower owed. Despite the complexities of the process, some banks do proceed in pursuing deficiency judgments against borrowers.
If a lender is seeking to collect outstanding loan debt after a foreclosure sale, you may have legal options. An experienced foreclosure attorney can help you explore options that would allow you to defend the deficiency and negotiate a favorable settlement with the bank.
The Law Offices of Kassab Arabo, PLLC, represents clients throughout southeast Michigan in foreclosure deficiency settlement-related legal matters. If your bank is pursuing a deficiency judgment against you, we can help you understand which option is right for you to protect your assets. A few options may include Chapter 13 bankruptcy, loan modification, short sale, or negotiating directly with the bank. However, we will better be able to assist you once we learn about your specific circumstances.
Credit Card Settlement
You never expected to be in debt. Whether you recently lost your job, had to deal with unexpected medical bills or maybe went through a divorce, your finances could have quickly spiraled out of control. Credit cards may have become your crutch to help you make ends meet. If you are just paying the interest on your credit cards, you may feel like you’ll never gain control from the burden of debt you are facing.
Your credit card strain could be lessened from debt negotiations. Attorney Alivia Kassab Arabo can negotiate with your creditors to modify the terms of the repayment plan. She may be able to negotiate a lower interest rate or a reduction of the principal amount. The creditor may also be willing to accept a lump sum payment for less than the original amount owed.
If you are feeling trapped from credit card debts, understandably you want to gain control without spending a lot. However, the cheapest solution is not always the best. Many people who hire a debt settlement company end up contacting our firm, because the work was not done properly. You can avoid jumping through hoops by working with our firm upfront to resolve your credit card debts.