Negotiation vs. Settlement

Choosing the Right Debt Solution

If you are in financial trouble and are looking for an alternative to bankruptcy, you may want to consider debt negotiation or debt settlement. Debt negotiation will reduce your monthly payments so it is easier to keep up with your financial obligations, and debt settlement will result in the lowering of your principal balance so that it can be paid off. Which solution is right for you will depend on your financial circumstances. Debt negotiation is a good choice for a person that has a regular income, but not enough money to make lump sum payments to creditors. You will be able to get back on track financially and prevent lawsuits and repossessions. Debt settlement will require paying off the entirety of the newly negotiated settlement amount. Even though settlements can be for pennies on the dollar, you will still need sufficient cash on hand to cover all of your debts. The main advantage of debt settlement is that you will pay significantly less money to wipe out all of your debts.

When faced with the stress of mounting bills, consulting a Ventura bankruptcy attorney can be extremely beneficial and help you chose the right financial solution for your particular situation. A bankruptcy attorney specializes in helping individuals and families eliminate their debts not only by filing for bankruptcy but also other legal remedies such as debt negotiation and debt settlement.

Ventura Bankruptcy Lawyer

Are you concerned about your financial future? Bryan Diaz Law, P.C. is a dedicated bankruptcy firm that can give help you get on top of your financial problems. We assist clients with many different types of debt relief measures, including:

  • Negotiating a lower principal on credit card debts
  • Settling your credit card debts by negotiating a significantly reduced balance
  • Modifying your home loan
  • Consolidating your debts

Our firm will analyze your finances and give you feedback on your alternatives with the goal of helping you achieve a debt-free life. Mr. Diaz has worked for many large firms and offers comparable services at small firm prices.

Contact a Ventura bankruptcy attorney for legal advice if you are in debt and seeking an alternative to bankruptcy.