Antonio, Palm Beach County
The Result:
Original balance: $2,561.12
Settlement/Payoff: $500
Savings: $2,061.12/month

 

 

Emlyn, Pembroke Pines
The Result:
Original Balance: $62,666
Settlement/Payoff: $6,266
SAVINGS: $56,400

Emlyn owed $62,666 on a Citi Mortgage account. Korte & Wortman negotiated a settlement where Emlyn paid only 10 percent, or $6,266, to settle the debt in full. Emlyn paid $6,266 and now owns her property free and clear.

 

Alejandro, Key Biscayne
The Result:
Original Balance: $300,000
Settlement/Payoff: $200,000
SAVINGS: $100,000

Alejandro had taken out a $300,000 loan for his business, backed with a mortgage on his Key Biscayne apartment. After defaulting on the loan, Alejandro hired Korte & Wortman.

Korte & Wortman was able to negotiate a settlement with Wells Fargo, who held the mortgage, that cut a third of the debt. The agreement also absolved Alejandro of paying attorney’s fees for the bank.

 

Matthew, Clearwater
The Result:
Original Balance: $72,084.69
Settlement/Payoff: $15,000
SAVINGS: $57,084.69

Matthew had a second mortgage on his property with a payoff amount of $72,084. In a settlement negotiated by Korte & Wortman, SunTrust bank agreed to accept $15,000, or less than 25 percent of the balance of Matthew’s second mortgage.

SunTrust also agreed to allow Matthew to pay the $15,000 in 13 installments, giving him a payment of $416.67 each month. SunTrust also agreed to forgo any further collection activities on the account and report the settlement to credit reporting agencies.

 

Rafael, Sunrise
The Result:
Original Balance: $16,330.71
Settlement/Payoff: $5,000
SAVINGS: $11,330.71

Rafael owed $16,330.71 to Ford Motor Credit Company. Korte & Wortman made a settlement offer of $4,000, less than 1/3 the total owed. Ford Motor Credit agreed to the offer, and agreed to dismiss a previous judgment it had won. Rafael was able to pay $5,000 and own his car free and clear. Original debt: $16,330.71. New Debt: $5,000.

 

Mimose, Coral Springs
The Result:
Original Loan Balance: $140,000
One Payment: $40,000
SAVINGS: $100,000

A best-case solution for Mimose of Coral Springs was the settlement obtained after hiring Korte & Wortman. The firm negotiated a settlement with the bank that enabled her to own her investment property outright.

Korte & Wortman got the bank to take a lump sum of $40,000 on the balance of $140,000. She owns the house free and clear and saved more than 70 percent on the principal balance.

 

Miguel, Port St. Lucie
The Result:
Original Balance: $18,437.03
Settlement/Payoff: $10,000
SAVINGS: $8,437.03

Miguel had a second mortgage on his property with a payoff amount of $18,437.03. In a settlement negotiated by Korte & Wortman, Banco Polpular bank agreed to accept $10,000, or slightly over 50 percent of the balance of Miguel’s second mortgage.

 

Brony, Lake Worth
The Result:
Original Balance: $47,000
Settlement/Payoff: $6,000
SAVINGS: $41,000

Brony had a second mortgage on his property with a payoff amount of $47,000. In a settlement negotiated by Korte & Wortman, Specialized Loan Servicing, LLC agreed to accept $6,000, or over 87 percent reduction of the balance for Brony’s second mortgage.

 

Lela, West Palm Beach
The Result:
Original Balance: $27,254.57
Settlement/Payoff: $55
SAVINGS: $27,199.57

Lela had a credit card balance of over $27,000.She did not have the funds to pay it back or settle. Korte & Wortman negotiated a settlement of $55 for the debt to be paid in full.