Debt Settlement

Debt Settlement

take the first step toward a new financial future

Debt Settlement

Negotiate Your Way Out of Debt Without Filing for Bankruptcy

Debt Settlement Attorney in Los Angeles & Orange County

Debt settlement is a viable alternative to bankruptcy that can help you pay off a portion of your debt over 3 to 5 years. By working with a representative who negotiates with your creditors, you can reach a reduced settlement on unsecured debts like credit cards and medical bills. Once an agreement is reached, you'll make a monthly payment into a trust account to be distributed to creditors.


This option can help reduce high-interest debts while allowing you to avoid bankruptcy, protect your assets, and regain financial stability. At The Law Office of Richard T. Baum, we work with you to create a personalized plan and explore all available options for debt relief, whether you're looking to stay in your home or manage credit card debts. Reach out today for a free consultation to find the solution that best fits your needs.

How Debt Settlement Works

Understanding Debt Settlement

Reduce Debt, Avoid Bankruptcy in Los Angeles & Orange County

Debt settlement involves negotiating with creditors to accept a reduced amount of your total debt. A representative will work on your behalf, helping to lower the overall balance, especially on unsecured debts like credit cards. Once a settlement is reached, you’ll make one monthly payment into a trust account, which will then be distributed to your creditors. This option allows you to regain financial control without going through bankruptcy.

FAQ

FAQs About Debt Settlement

Your Questions Answered by a Trusted Los Angeles Bankruptcy Attorney

Debt settlement can be a complex process, but with the right information, you can make the best decision for your financial situation. Here are common questions and answers about debt settlement to help guide you through the process.

LEGAL ADVICE YOU CAN TRUST

  • WHAT TYPES OF DEBTS CAN BE SETTLED?

    Debt settlement is typically used for unsecured debts, such as credit cards, medical bills, and personal loans.

  • HOW LONG DOES THE DEBT SETTLEMENT PROCESS TAKE?

    Some debts can be resolved quickly, while others may take much longer to address.

  • WILL DEBT SETTLEMENT AFFECT MY CREDIT?

    Debt settlement can negatively impact your credit score, but it is often less damaging than bankruptcy.

  • DO I NEED A LAWYER FOR DEBT SETTLEMENT?

    While not required, having an attorney negotiate on your behalf can ensure you get the best possible terms.

  • WHAT HAPPENS IF CREDITORS DON’T AGREE TO A SETTLEMENT?

    If creditors refuse to settle, you may need to explore other options, like bankruptcy, but negotiations can still continue.
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