Professional Advice With Solutions to Your Debt Problems

Unemployment in Maryland has risen to its highest level since 1993. Local businesses, especially retail and construction, are experiencing the strain of the downturn. The foreclosure rate is advancing. In the past, Washington, DC area residents have been somewhat insulated from economic downturn due to our proximity to Federal jobs and funding. However, locals are presently experiencing ever-mounting concerns about the economy and their financial security.

Local resident and financial advisor, Bob Greenfest of Santos, Postal & Company, P.C. states, “Professional support and advice for individuals experiencing business and personal debt obligations can provide immediate relief and structure. In addition to renegotiating and restructuring the terms of credit card loans with the least interruption to good credit standing, folks can benefit from renegotiating retail and office leases, restructuring mortgage loans and renegotiating real estate taxes.”

How a professional can help:

Relieve Credit Card Debt
• Beware of zero percent special offers for balance transfers-you could find yourself paying interest upwards of 30% at the end of the term.

• Pay the minimum due on time. If your credit card company receives your payment, even one day after the due date, you may be placed into a first tier high interest category. In addition, when your other creditors obtain a copy of your credit report as part of their review process, and they see that you were late on one card, there is a good chance they too will increase your interest rate. You will also be issued late fees.

• Check the interest rate on your credit card. A professional may be able to take a few simple steps to reduce your interest rate.

• If your credit card debt has become insurmountable, get a professional involved to work on your behalf, with your credit card lender.

Avoid Foreclosure
• It may be possible to modify your mortgage and not lose your house.  A professional can help with a mortgage modification rather than a refinance.

 • A short sale or deed in lieu of foreclosure may be a less stressful option to losing your home to foreclosure, and a trusted advisor and attorney can assist with these options.

Avoid Bankruptcy
Debt reduction plans can sometimes occur without having to seek legal protection from creditors.  Disclosing all details of your financial situation to an expert will assist in making the determination if bankruptcy avoidance is possible.

Renegotiate Real Estate Property Taxes
Most of us are paying property taxes based on outdated valuations. A professional can review comparable properties and determine if your real estate taxes are properly assessed. If not, having an advocate to negotiate your property taxes can be very valuable to you.

Renegotiate Rental Leases
If you signed your rental lease at a time when market rents were much higher, you may be in a position to renegotiate the terms of your lease. A professional familiar with current market rents and negotiation strategies can be very helpful to you right now.

Advantages of negotiating through a third party:

By hiring a third party to renegotiate your debt commitments, you may realize hundreds or thousands of dollars of savings. A financial expert will be able to:

• review your financial commitments to determine where you can save by changing and renegotiating debt commitments.
• relieve you of the unpleasant task of negotiating with your business contacts.
• provide the professional expertise and negotiation skills for the best results.

Says Greenfest, “Although our current economic situation has people concerned, it won’t be this way forever. The plan is to move past current hurdles and start planning for future business and personal wealth.”

To contact Bob Greenfest, send an email to BGreenfest@SantosPostal.com or call Santos, Postal & Company, P.C. at (240) 499-2040.