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I’m in Debt and I Need Help

If those two statements speak to you, keep reading. Whether it is a result of student loan payments, unfavorable credit card interest rates, professional setbacks or something else, getting out of debt is possible.

There is a lot of confusing information out there about how to handle your debt and many people are of the mistaken belief that if you don’t file for bankruptcy, then you just have to continue struggling with monthly payments you can’t afford to pay. That is simply not the case. Working with an attorney can ultimately save you much more money (and time) than it will cost you!

There are a lot of Los Angeles debt settlement options available to you that don’t involve bankruptcy or paying the full amount you owe on everything. Here are some quick facts about debt settlement to get you started:

  • It’s all about negotiation: By working with an experienced debt settlement attorney, you can negotiate down what you owe (usually by a significant amount). In most situations, you will not have to pay this amount in a lump sum. Your attorneys should be able to come up with a payment plan that makes sense for your given situation.
  • Better than bankruptcy for creditors: In the eyes of a creditor, taking a negotiated amount is better than having an account owner file for bankruptcy. You see, when a debtor files for bankruptcy, the chance that a creditor will get any of the money owed to them becomes very small. Knowing that reality, creditors are usually very willing to come up with a guaranteed negotiated number well under what they are owed rather than continue to push someone into bankruptcy. Additionally, avoiding bankruptcy is a good thing for you — not only will a debt settlement not have the same impact on your credit report, it also means you will not have to deal with some of the other issues and expenses that come with filing for bankruptcy.
  • Get organized: If you are reading this, then you are likely dealing with a handful of outstanding debts that you are having difficulty paying. When working on a debt settlement, the best place to start is to get all your financial obligations organized. Any creditor you negotiate with (whether for debt settlement or bankruptcy) will likely want to see documentation of a need to bring down the amount owed; take some time to get all of these items in order for yourself and for your attorney. Doing so will also help ensure that whatever figure or arrangement is reached is an amount you can actually handle.

Take a deep breath. If you are feeling crushed under the weight of your debt, there are options available to you and your family. Debt settlement is a great choice for a lot of people and the sooner you can begin working with your creditors, the better. DCDM Law Group can help you come up with the best way to take care of your debts once and for all.

At DCDM Law Group, we are here to help get you the financial relief you need to start living your life again. In addition to debt settlement, we specialize in bankruptcy, asset protection, debt relief, litigation and corporate law. You can try to negotiate with creditors on your own, but an attorney can put an end to harassing phone calls and get you the best deal possible for paying off your debts. If you have been stressing about your financial situation, pick up the phone today and schedule your free consultation with the DCDM Law Group to learn how we can help you work with your creditors and get a fresh start. We look forward to working with you!

 

Dheeraj K. Singhal
About the Author
I help people keep the things they want and get rid of the things they don't want. I have been a lawyer for over 12 years and there are few things I enjoy more then getting great results for the people that trust me with their legal problems.