High Failure Level in Debt Settlement
Debt Settlement May Not Be the Right Solution
Debt consolidation plans may sound extremely attractive, especially if you fear a bankruptcy filing. However, there are many debt settlement scammers who may target you for their unethical, and often illegal, practices. These disreputable companies promise to reduce your debt by an enormous percentage and put you on an affordable payment plan. They agree to collect your payments and then distribute those funds to your creditors. They often ask for a substantial down payment and charge fees each month without delivering on their promises.
Don’t be a victim of a scam. Instead, contact a licensed and insured Los Angeles attorney for a realistic discussion of your debt situation and a solution that will lead to long-term relief.
Preventing the Consequences of Debt Settlement Failure
Unfortunately, even well-intentioned debt settlement plans fail. The debtor may plan to repay their creditors, but the initial plan may not have been feasible. In many instances, making the consolidated debt payment will not reduce the debt at all. This leads to an unbreakable cycle that makes long-term financial health, including access to credit, impossible.
If a dishonest debt settlement company collects your fees but does not pay your creditors, you may face a collection lawsuit, foreclosure, repossession, and wage garnishment. Your financial challenges will be exacerbated, and your credit may be devastated. If you lose your job or suffer some other setback, you may have no recourse.
With the attorneys of Weintraub Zolkin Talerico & Liu LLP on your side, you will enjoy peace of mind knowing you have insured, licensed, and reputable lawyers on your side. If you want straightforward, candid, and practical legal advice for handling your debt and avoiding a debt relief scam, contact Weintraub Zolkin Talerico & Liu LLP.
Debt Consolidation, Negotiation, Settlement, or Bankruptcy
Our Los Angeles attorneys will explore all of your options and clearly explain the benefits and drawbacks of each.
If you are facing overwhelming debt, we may be able to identify alternatives, but we may also be able to show you the benefits of filing bankruptcy, including:
- The automatic stay puts an end to creditor harassment immediately
- A feasible repayment plan can be devised
- Your debts may be reorganized and significantly reduced
- Your credit may be much easier to repair through bankruptcy than simply paying minimum payments
- Your rights will be protected, and your responsibilities explained by experienced attorneys
While many people believe bankruptcy is devastating, it can actually be the most attractive and realistic solution to your financial struggles. For an honest discussion of your challenges and to determine if debt negotiation and settlement are the right path for you, call our law firm now.
Reach out to us at or contact our firm online to schedule an initial consultation.
