Five Lakes Law Group Reviews
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About Five Lakes Law Group
Established in 2021, Five Lakes Law Group is a Michigan-based law firm that offers debt settlement and resolution services. Five Lakes Law Group also offers litigation support alongside its debt settlement services. The company states on its website that it can reduce your monthly debt load by up to 40% while also offering one-on-one attorney support. It says it has helped more than 200,000 clients with unsecured debt, such as credit card bills and medical debt.
Visit www.fivelakeslawgroup.com- Attorney assistance
- Chat available 24/7
- Not for all debts
- Fees not listed
How does Five Lakes Law Group work?
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.
Here’s a step-by-step overview of the process:
- Contact Five Lakes Law Group to determine your eligibility and get set up with an attorney.
- Get set up with a debt settlement plan.
- Deposit funds into a dedicated account every month instead of paying your creditors.
- Five Lakes Law Group negotiates with your creditors to help pay off your debt.
However, if you forgo paying your creditors 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 pro se legal document drafting and attorney assistance.
A convenient feature of Five Lakes Law Group is its mobile app, which lets you manage your enrolled debts and approve agreements.
Five Lakes Law Group products and services
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 48 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 a mortgage or auto loan. It also will not help with federal student loan debt.
Five Lakes Law Group fees
Five Lakes Law Group does not disclose its fees on its website, but it should be able to give you the full costs before you commit. 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.
Debt settlement fees vary depending on the individual case, but are made up of service fees, settlement fees, counseling fees and legal fees. Avoid any debt settlement companies that require you to sign up before letting you know the cost.
FAQ
Does Five Lakes Law Group have a money-back guarantee?
No, Five Lakes Law Group does not have a money-back guarantee or satisfaction policy listed on its website. Before working with this company, ask about its refund policies.
Do I need a hardship to use Five Lakes Law Group?
Yes, you do need a financial hardship to use Five Lakes Law Group. Five Lakes Law Group relies on a client’s financial hardship to better negotiate and settle with creditors. If you don’t want to take this route to become debt-free, you can look into taking out a debt consolidation loan, which helps you move all of your debt to one predictable loan payment.
Will using Five Lakes Law Group hurt my credit score?
Yes, using Five Lakes Law Group will hurt your credit score. You should expect your credit score to take a hit with any debt settlement company you use. This is because you must establish financial hardship, which is done when you stop paying your creditors.
Still have questions?
Is Five Lakes Law Group legit?
Yes, Five Lakes Law Group is a legitimate law firm that specializes in debt resolution. The company has helped clients pay off over $500 million in debt and has over 50 attorneys on staff.
You can expect licensed attorneys to assist you with your debt settlement journey.
“Five Lakes has kept their agreement with me to gain resolution offers from 4 creditors. They have accomplished this with 3 and are currently working on the 4th,” ConsumerAffairs reviewer, Beverly, said. “Two have been paid off. All this in 9 months' time. They handled all creditor letters and phone calls.”
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.
Five Lakes Law Group Reviews
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Five Lakes Law Group Company Information
- Company Name:
- Five Lakes Law Group
- Website:
- www.fivelakeslawgroup.com






















