Five Lakes Law Group Reviews

Based in Michigan, Five Lakes Law Group focuses on providing clients debt relief through the debt settlement process.

Debt settlement requires clients to establish financial hardship, usually through negating their monthly debt bills, in order for the company to settle the debt for a lower amount or in full. Five Lakes Law Group offers litigation support alongside its debt settlement services, so clients will have that benefit in case a creditor threatens legal action.

One notable perk of using Five Lakes Law Group is its mobile app that allows you to manage your enrolled debts and approve agreements. The app has a 4.9-star rating on both Apple’s App Store and Google Play as of publishing, with over 350 reviews combined.

Five Lakes Law Group helps clients settle unsecured debt by diverting their creditor payments. Instead of paying your creditors each month, you will pay into an account that will be used for debt payoff. The goal is to establish new terms and a lower owed amount with the creditor.

However, if you forgo paying your creditor to establish financial hardship, your debt will accumulate late fees and interest rate charges. There is also a possibility that the creditor will sue you for your owed balance. Five Lakes Law Group will attempt to slow down or assist in legal issues with free pro se legal document drafting and attorney assistance.

While Five Lakes Law Group does not give a specific time frame for its debt settlement services, clients can expect the process to take between 24 and 60 months, which is the common range among most debt settlement companies. Five Lakes Law Group can help with the following debts:

• Credit card
• Medical
• Personal loans

It cannot help with debt that is secured by collateral, such as mortgage and auto loans. It also will not help with federal student loan debt.

Five Lakes Law Group does not disclose its fees on its website but should be able to give you the full costs before you commit. Avoid any debt settlement companies that require you to sign up before letting you know the cost.

While Five Lakes Law Group’s pricing is not listed, note that many debt settlement companies do not charge any upfront fees but instead charge between 15% and 25% of the settled amount once a debt resolution has been made.

Five Lakes Law Group is a legitimate law firm that specializes in debt resolution. You can expect licensed attorneys to assist you with your debt settlement journey. Before choosing to work with Five Lakes Law Group, make sure you know how long the process will take and how much you will need to pay in fees.