Switch to ADA Accessible Theme
Close Menu
Los Angeles Bankruptcy Lawyers / Rancho Cucamonga Debt Settlement Lawyer

Rancho Cucamonga Debt Settlement Lawyer

If you are drowning in debt, then debt settlement might be the best option for finally breaking free. At Wadhwani & Shanfeld, our team works with distressed consumers on a daily basis to help them tackle debt loads and avoid court. Anyone who defaults on a loan could face a lawsuit, as well as other collection action, like wage garnishment. It’s even possible for a creditor to levy on your bank accounts and clean them out.

You need a Rancho Cucamonga debt settlement lawyer by your side to protect your finances and finally get your debt under control. Contact our firm today if you have questions about debt settlement. This is a great option that has worked for countless consumers, and it could be just what you need.

Why Debt Settlement Might be Right for You

Debt settlement is a process where a creditor agrees to accept payment for less than the face value of a debt. In exchange, they agree to waive the remainder.

Here is an example. Joan owes a credit card company $35,000, which she cannot pay. She has been in default for six months, and her credit score is in the toilet. But she has managed to cobble together $20,000. Joan could negotiate with her creditor to accept the $20,000 as a lump sum if they agree to write off the remaining $15,000. If both sides agree, Joan can reduce the amount she paid.

Why do creditors agree to debt settlement? Mainly because they fear a consumer will file for bankruptcy, which could potentially eliminate most or all of the debt. Unsecured debts like personal loans, credit cards, and medical care are easy to discharge in a Chapter 7 bankruptcy. Instead of getting $0, a creditor might accept a portion of what you owe.

Wadhwani & Shanfeld can help negotiate with creditors on your behalf. We know which buttons to push to get creditors to see that a partial payment is better than no payment at all. Many of the largest banks and credit card companies have engaged in debt settlement for decades. This isn’t new to them.

Debt settlement doesn’t work for all debts. For example, you won’t convince the U.S. government to reduce the amount of your student loans. Also, settlement doesn’t work with secured loans, like your car or house. In those situations, a creditor can always foreclose on your property. Nonetheless, we have seen hundreds of people finally break free of crippling debts. It’s time to check if this is a realistic option for you.

Are You Interested in Debt Settlement?

Our Rancho Cucamonga debt settlement lawyers can meet with anyone struggling with burdensome debt loads. We have had terrific success advocating for clients since opening our doors. We know how banks and other large lenders think. They are afraid of consumers filing bankruptcy, and we can use this possibility to your advantage.

Please contact our law firm today. You can schedule a private consultation to ask questions about debt settlement or a different debt solution, like bankruptcy.

Share This Page:
Facebook Twitter LinkedIn