Encino, CA Debt Settlement Lawyer

An Encino, CA debt lawyer understands that being burdened by debts is never an easy feat. We all have responsibilities to pay our debts, credit cards, and other bills. But a crisis such as a job loss, illness, or other challenges can leave us with debts that go unpaid. One way to reduce the debt owed is by pursuing a debt settlement. The team at Resolve Law Group has helped so many people struggling with their debts. We are especially attuned to debt and consumer laws and can let you know what your options are in getting that debt amount down. You can trust that once you become one of our clients, you will have a dedicated legal team to support you during a very difficult time. Call today for a consultation.
debt lawyer Encino, CA

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Our team is here to help with most legal issues that impact your life.

What is Debt Settlement?

The process of settling a debt entails negotiations with your creditors to pay back less than what you owe. The types of debts that may qualify for a settlement include private student loans, auto loans after repossession, cash advance loans, retail cards, payday loans, medical bills, credit cards, and personal loans. The reason why secured debts cannot be settled is because the creditor may choose to seize the asset instead. For example, if you default on a mortgage, the lender will foreclosure on the home and sell it at auction. However, you may still owe the creditor money even after the assets have been seized, and that amount could qualify under debt settlement. Unsecured debts, like credit cards, are eligible for a settlement. But, a creditor is not obligated to agree, and may file a lawsuit against you instead. But keep in mind that many creditors would prefer getting some payment, than nothing at all, especially if a debtor is forced into filing for bankruptcy.

Benefits of Debt Settlement

As your Encino debt lawyer can review with you, there are many benefits of debt settlement. You will be required to pay your creditor an amount that is less than the total owed. After a payment is made, the left over balance gets eliminated. For the best deal though, it is good to have enough money to send in a lump sum payment. But, many creditors may offer discounters on your structured payment plans. The benefits of a debt settlement are that you save money, get creditors to stop calling you all the time, alleviates your stress, protects your bank account and paychecks, and helps you avoid a debt collection judgment or lawsuit.

Help From a Legal Team

At Resolve Law Group, we have seen the way that financial problems can affect people’s lives and mental health. If you are thinking about pursuing a debt settlement, an Encino debt lawyer is ready to assist you. Please do not let the burden of financial troubles prevent you from getting help. There are resources and professionals available. All you have to do is reach out, and once we know more about your situation, we can advise what the next best step would be. We hope to speak with you soon.

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