Many California consumers considering bankruptcy are also considering debt settlement as an alternative.Bankruptcy is not always the best option for clients. Few clients want to file bankruptcy and debt settlement may be a better option for some.
Debt settlement is a great option for those that can not file Chapter 7 and have no home in foreclosure process or those that can not file bankruptcy due to licensing issues. An ideal candidate usually has a lot of credit card or unsecured debt and the means to settle out over time with the debt collectors or creditors. We speak the debt collectors and creditors for the consumer. In fact, debt collectors can not even talk to our clients once they know we are involved. Our job is to find any exceptions, offsets, or possible violations that allow us to approach a creditor and seek a smaller settlement. Some creditors and debt collectors even will delete a debt when they see we represent a client.
While most clients do not have all the money to settle up front they a modest monthly budget that can be dedicated to settling their old debt. Our law firm can assist clients with most budget restrictions. Once a client agrees to settle with a creditor we obtain the agreement in writing. Our goal is to negotiate the amount due, payment terms, full release of the unpaid amounts, and how it will appear on the client’s credit report. Sometimes when doing a debt settlement the creditor will say that a 1099-C must be issued. You may want to contact a CPA or qualified tax preparer as to possible tax implications.
Advantages of working with Helstowski and Helstowski Law Firm to help settle debt:
To speak to us about your options please call (714) 699-9696 or email cs@caclf.com.