The Benefits of Debt Settlement
A Non-Bankruptcy Alternative to Debt Relief
Bankruptcy is a great option for many people. This doesn't mean that it is necessarily the right solution for you. Our debt lawyers at Wadhwani & Shanfeld customize our approach to the needs and priorities of each client. No two cases are alike. We recognize the nuances of our clients' individual needs, and because of this, we refuse to implement a "one size fits all" approach or to push one particular solution on our clients without first hearing their personal stories and objectives.
What Is Debt Settlement & How Does It Work in California?
Debt settlement is the process of negotiating with individual creditors outside of court to resolve your debt. In most cases, we are able to reach settlements that are considerably lower than the actual amount owed, such as for credit card debt or a second mortgage. In today's difficult economy, debt collectors are typically willing to work with us to arrive at a reasonable settlement rather than risk a bankruptcy filing. As a reputable law firm that handles a high volume of bankruptcies, we are often able to settle debt at a significant discount.
Don’t try to negotiate a settlement without the help of a debt settlement lawyer. Schedule a FREE consultation today to discuss your options with Wadhwani & Shanfeld.
When Is Debt Settlement Worth It?
Debt settlement is particularly useful in the following scenarios:
- You are ineligible to file bankruptcy due to a previous recent filing
- You have a low income
- You are clearly unable to pay the debt in full
- You have a large number of assets (and want to avoid liquidation)
- You have moral or religious reasons for opposing the concept of bankruptcy
Debt Settlement & Your Credit
Like any form of debt relief, there are consequences associated with debt settlement. Yes, debt settlement is bad for your credit score and will remain on your credit report for 7 years—however, there are many benefits to debt settlement that should not be overlooked.
Debt settlement is better than bankruptcy for some, because it helps you avoid liquidation and can keep you from paying the full amount of your debts. Debt settlement is also better than dealing with harassing creditors and remaining under crushing debt when, instead, you could get a fresh start!
Are you thinking about settling your debts? Speak with a debt relief lawyer from Wadhwani & Shanfeld to discuss your debt relief options in detail and decide which is the best for you.
See How We Helped a Previous Client
"I had thousands of dollars in debt which I was unable to pay. I did
not qualify for bankruptcy. I engaged Wadhwani & Shanfeld to settle
my debts. Over the course of several years they settled all my debts.
I was pleasantly surprised at how low some of the debts were settled for.
On other debts, they were able to drag out the settlement process to where
the creditor gave up or the Statue of Limitations hit. I highly recommend
Wadhwani & Shanfeld. Lily Gaboyan is a pleasure to work with. She
did a great job for me. After I engaged Lily, creditors stopped calling
me because Lily handled all the calls from creditors. I now have no outstanding
debt thanks to Lily's skillful negotiation."
- Gary G., 5/5 Stars
How to Get the Most Out of Your Debt Settlement Plan
The key to successful debt settlement is be proactive. If you’ve considered your options and determined that some form of debt settlement is best for you (opposed to bankruptcy) don’t wait to take action. If you wait too long, your account could go be charged off, lessening your chances of a solid debt settlement agreement. In short, if you’re going to contact your creditors, do it soon.
Over 65 Years of Experience on Your Side
If you do not qualify to file for bankruptcy, then we can help walk you down the path of debt settlement. This bankruptcy alternative has functioned as a good, practical option for many people.
We encourage you to get in touch with our office as soon as possible to examine your situation and the various debt relief solutions available to you in a free case evaluation. Both of our attorneys have demonstrated the commitment and dedication to help our clients when they need us most. Through extensive experience and a client-focused strategy, we work to serve our clients toward effective and favorable outcomes.
Call Wadhwani & Shanfeld at 800-996-9932 to learn more about debt settlement in Southern California.
Invaluable Bankruptcy Insight
Attorneys Raj Wadhwani and Greg Shanfeld are Board-Certified Bankruptcy Specialists who leverage their insight on behalf of clients.
Our legal team does all of the work for you, including filing paperwork, keeping track of deadlines, and providing protection from creditors.
Experience Where it Counts
Our attorneys have over 65 years of collective experience helping clients in a broad range of bankruptcy and debt settlement cases.
A Prolific Record of Success
Our firm has successfully helped more than 20,000 people put the pieces of their lives back together after a bankruptcy.