Although bankruptcy is one of the most popular debt relief methods, it is not the only option. At Wadhwani & Shanfeld, our attorneys are dedicated to creating a customized solution for every client. We understand that everybody’s financial situation is different, and we appreciate that each individual may handle debt a little differently depending on a number of factors. If bankruptcy is not the right option for you, debt settlement may be a more likely alternative.
How does Debt Settlement Work?
Debt Settlement is a negotiation process between borrowers and creditors. Typically, the borrower is represented by a legal advocate to better protect his or her best interest. These negotiations are often handled outside of court and can involve settlements where the borrower ends up paying less than he or she initially owed. For debt collectors, settlement options are usually more appealing than bankruptcy. And, because our firm works primarily on bankruptcy cases, we understand what to do in order to settle debts in your favor.
The following individuals may benefit from debt settlement:
- Those who are unable to file bankruptcy, or have recently filed and are ineligible
- Individuals with a high income
- Individuals with a large number of assets
- Those who object to bankruptcy based on moral or religious reasons
Act Quickly to Protect Your Finances
Settlement plans usually see the most success when the borrowers are proactive. If you know you will not be filing bankruptcy but you are unable to pay your debts, take action as soon as you can to develop a debt settlement plan. Acting quickly can give you a better chance of securing a settlement before your account is affected.
Choose Wadhwani & Shanfeld
With more than 65 years of legal experience on our side, our attorneys are confident in the legal knowledge and financial solutions we can bring to the table. We are committed to finding applicable debt relief options for our clients, whether that means filing bankruptcy or reaching a debt settlement. Our central goal is to protect your interests and work towards a brighter financial future for you and your family.
Contact Wadhwani & Shanfeld to schedule a free consultation with our Palmdale attorneys.