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Debt Settlement Los Angeles: When You Should Contact an Attorney

Debt settlement in Los Angeles

Debt settlement in Los Angeles is as varied as the city itself. With that in mind, the stress of the financial situation can make many individuals and families too quickly choose an option that is ultimately wrong for them.

Dealing with debt is stressful, emotional and time-consuming, but the ultimate goal is always the same: to get out of debt once and for all. Working with a debt settlement attorney can keep you focused and realistic about this goal.

While paying for an attorney may seem out of the budget of anyone trying to settle their debts, it is actually something that can ultimately save money, time and headaches. Here’s a look at two of the most popular debt settlement options and the role an attorney can play in the process:

Bankruptcy:

Chapter 7 or Chapter 13 bankruptcy may be unique to your situation and the nature of your debts. While it is the right choice for many, an attorney can consult with you on whether it is the right choice for you. For instance, if the bulk of your monthly debt is your seemingly insurmountable student loan payments, then bankruptcy will not wipe those away, but an attorney may help you figure out relief for other debts that can make your student loan payments feasible.

Debt Settlement:

Here’s a little secret many debtors don’t realize: Your credit card companies actually want to work with you. While you may not believe that, in light of the harassing phone calls and endless requests for payments you can’t make, when given the option between having a debtor file for bankruptcy or accepting a drastically lower amount than owed, a credit card company will always choose the latter. The reason for this is simple: when a debtor files for bankruptcy, there’s a good chance the credit card company won’t get any money (especially if it’s a chapter 7) whereas coming up with a settlement amount means that they will at least receive something. Where an attorney can be especially helpful is in guiding these conversations with credit card companies and making sure you get the lowest settlement amount possible. And the same holds true for other outstanding bills, including medical.

DCDM Law Group
There are a lot of legal issues you will encounter in your everyday life that don’t really require the assistance of an attorney. But if you are dealing with serious, insurmountable debt, getting in touch with an attorney is your best chance for extracting yourself in the best and quickest way possible.

With over a decade of experience helping individuals and businesses resolve their debt issues, DCDM Law Group is the team of attorneys you want fighting for you. We listen to your needs and come up with unique solutions to handle your debts and pave the way for your future plans. Your first consultation with us is always free, so pick up the phone and give us a call today.

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.