Debt settlement and debt consolidation can be a good solution for the right type of situation. If you are dealing with unsecured debt with multiple creditors, you may need to hire a debt settlement company to help you negotiate your debts with your creditors. A bankruptcy can certainly wipe out debt with creditors, but if you do not qualify for bankruptcy, debt settlement or debt consolidation may be a good solution for you. You do not need to qualify for a debt settlement service. You simply need to seek one out and hire one to help negotiate with your creditors.
When should you choose debt settlement over bankruptcy? A bankruptcy requires you to meet certain qualifications to utilize a bankruptcy. If you have enough income to pay your debts and you own many valuable assets, a bankruptcy attorney may tell you that you do not qualify for a bankruptcy. In this case, you can look to debt settlement to negotiate your debts instead of getting all of your debts discharged in a bankruptcy. If you are unsure of whether you qualify for bankruptcy or not, make sure to consult with a local bankruptcy attorney to thoroughly examine your situation and analyze whether there is a bankruptcy that you can qualify for or not. Once you are sure that bankruptcy is not a likely option, you can look to debt settlement services to help you.
If you have the time to negotiate with creditors on your own, you may be able to negotiate with the creditors yourself, but if you have already tried negotiating with them and have not been able to get to a feasible settlement amount, you can look to a debt settlement service to help you. Not all debt settlement services are law firms, but if you do find one that is a law firm, it may more helpful than a firm that is not a law firm. A law firm that helps you settle debts knows the laws of collections and knows when these laws are broken. It is important for your debt settlement firm to know when laws are broken in the collections process so that they can help enforce the law in the case that the law is broken. A law firm may also be taken more seriously than an organization that is not a law firm attempting to settle debts.
In conclusion, you can check to see if you qualify for a bankruptcy with a bankruptcy attorney. If bankruptcy is not an option for you, debt settlement may be the next solution.
Bankruptcy Law Professionals is a bankruptcy law firm in Southern California also providing debt settlement services. Our offices are located in Orange County and Riverside. Contact our bankruptcy attorneys for a consultation at 855 257-7671.