Sacramento Debt Negotiation
If you have mounting credit card debt and are in over your head you are not alone. Whether your cards are maxed out, your interest rates are too high for any hope of repayment, and/or you cannot afford the required monthly minimum payments we can help advise you on a strategy to possibly rid yourself of bad debt, providing you with a fresh start and a clean slate. We can assist you with other options beside bankruptcy for your credit card debt, depending on your personal situation and is best discussed during a free initial consultation with one of our experienced Sacramento debt negotiation attorneys.
Sacramento Debt Negotiation Attorneys
What is Debt Settlement?
“Debt Settlement” could be defined as the negotiation of an unsecured debt whereby the creditor agrees to take an amount less than claimed. The reason it is limited to unsecured debts is that negotiation of a secured debt would be referred to as “loan modification.”
If you have a few creditors, debt negotiation may be an option. Debt negotiation is a process where we negotiate with your creditors for them to accept less than what is owed, often pennies on the dollar. However, you must have a lump sum that you are able to pay to settle your debts at once, or over a short period of time in order to get the creditor to negotiate the best charge off amount. This tactic may still result in some damage to your credit, but it will not be listed as a bankruptcy on your credit report.
Please be advised that we are not a debt consolidation company, and we do not practice debt consolidation whereby you make payments to us for a year or longer, which we keep in an “account” and then try to settle with your creditors. Unfortunately, we have seen the results (or non results rather), that these companies get people, in fact many of our clients who have filed for bankruptcy, have done so after years of trying to negotiate their debt through the use of such companies, unsuccessfully. This has lead to damaged credit, lost money to the companies, and even lawsuits, and the end result is the same, bankruptcy after years of frustration and angst.
The Debt Settlement Process
Debt settlement is a process in which we as your legal counsel first get an analysis of your assets, liabilities, income and expenses and we prepare a financial statement and an estimate of the settlements we think can be obtained based on length of default and creditor. We will then discuss your ultimate goal. Is it to save as much as possible even if it means paying more of a lump sum to the creditor, or do you have less saved up and are more interested in smaller payments spread over time?
We evaluate your situation and give you our analysis of your best game plan, we then execute that game plan with your creditors. Our attorneys make sure that the creditor is authorized to enter into a settlement agreement and accept payment for the debt and we make sure that we get all settlement agreements in writing and once the debt has been finalized we ask for releases in writing. This is a complex process that is best managed by competent attorneys with a proven track record.
We can help you settle the following debts;
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Credit cards
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Credit unions
- Medical and hospital bills
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Unsecured loans
- Unsecured personal lines of credit
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Business loans
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Cars in repossession
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Debt stemming from repossessed cars
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Lawsuits
- Mortgages
Our Sacramento debt settlement attorneys will arrange to stop the late fees and penalties that have been mounting on your accounts, and you can direct the harassing phone calls from collection companies to us. When the debt settlement process is completed, you will feel relief and your financial situation will be improved.
There is no guarantee as to how much we might be able to get your debt reduced, but there is a good chance that you will end up paying less than you would otherwise.
Experienced Sacramento Debt Negotiation Attorneys
We are experienced Sacramento Debt Negotiation and Sacramento Bankruptcy Attorneys. We have helped thousands of individuals and businesses get the relief they need from their creditors through the use bankruptcy by filing a Ch. 7, Ch. 13, credit card debt negotiation or debt settlement and have successfully dealt with adversary proceedings brought by difficult creditors. Our bankruptcy and debt negotiation attorneys have achieved proven results and can give you the great legal advice and strategy needed to get you the results you want. Contact us today to schedule your complimentary attorney consultation by clicking HERE or by calling 916-999-1376. We look forward to helping you with all of your Sacramento debt negotiation or bankruptcy needs.
