Los Angeles Debt Settlement

Los Angeles Debt Settlement Attorneys

Proudly Helping Clients Get Back on Track

One thing is clear about our modern economy: we live in uncertain times. The COVID-19 pandemic has forced countless companies to shut down and lay off workers, and both state and federal governments are struggling to provide Americans with the support they need.

For many, bankruptcy is the only way forward. However, if you are struggling with debt, bankruptcy might not be your only option. At Fitzgerald & Campbell, we want to help you assess all options at your disposal before carefully selecting the most appropriate path. Whether you are ineligible for bankruptcy or would prefer to avoid it, our Los Angeles attorneys can help you find the debt-relief solution you need.

Call us today at (844) 431-3851 to discover different options for resolving your debt issues.

Local Bankruptcy Solutions for Los Angeles Residents

Living in Los Angeles, we understand the unique financial challenges that our community faces. The high cost of living, coupled with the economic impact of the COVID-19 pandemic, has left many Angelenos struggling to make ends meet. If you're considering filing for bankruptcy, you're not alone. The Los Angeles County Department of Consumer and Business Affairs offers resources that can help you understand your options and rights.

At Fitzgerald & Campbell, we are deeply familiar with the local economic landscape and the specific hurdles that residents of Los Angeles encounter. From the bustling streets of Downtown LA to the serene neighborhoods of Santa Monica, we know that financial stress can affect anyone, anywhere. Our team is committed to providing personalized debt-relief solutions that are tailored to your unique situation.

One common pain point for Los Angeles residents is the overwhelming cost of housing. With rent prices soaring, many find themselves falling behind on payments and accumulating debt. We can help you explore all available options, including bankruptcy, to find a path forward that alleviates your financial burden. Additionally, we can guide you through local resources such as the Los Angeles Housing + Community Investment Department, which offers assistance programs for those in need.

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Real Client Results

Conquering Your Mountain of Debt Since 1992

$1,043,087.06 settled for $492,701.56 Individual
Client Saved $27,433.00! UGH, I LLC.
$535,175.56 was settled for $375,000.00 Madison 65 Co
Client’s debt was reduced by $314,811.00! National Continental Insurance Company
$263,963.17 JUDGMENT VACATED! Los Angeles County Superior Court

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What You Can Expect from Fitzgerald & Campbell

Financial hardship is one of the most stressful challenges we can experience. It weighs on us psychologically and prevents us from building the life we feel we deserve. When you are struggling to obtain freedom from debt, take your case to Fitzgerald & Campbell. Our attorneys take great pride in providing each of our clients attentive service and fully customized solutions to insurmountable problems. When you come to our firm, you are putting your financial future in the best possible hands.

To schedule your free case consultation with our debt settlement team in Los Angeles, please call us at (844) 431-3851 or fill out our convenient online form.

FIND OUT INSTANTLY THE ANSWER TO THE 3 MOST FREQUENTLY ASKED QUESTIONS ABOUT DEBT SETTLEMENT:

How much Money is needed for a Successful Debt Settlement Plan? In total? Per month?
How Long does a Debt Settlement Plan take?
How much Can I Really Save?

Review Your Debt Settlement Options with Our Team

One alternative to bankruptcy is negotiating directly with your creditors to settle your debt. The goal of negotiation can be to reduce your interest rate, lower your monthly payment by extending the terms, or even settle your debt for a lower amount and forgive the rest. These are sometimes called debt workouts.

Debt collectors are often ready for negotiation and settlement because they stand to lose much less than if you were to file bankruptcy. If what you owe them is unsecured, Chapter 7 bankruptcy could completely eliminate your obligation to pay.

Through negotiation, you might be able to reduce or modify the following:

Credit card debt
Department store debt
Repossession deficiencies
Judgments that are several years old
Signature loans
Personal credit lines
Defaulted student loans from private sources

You might also be able to arrange a forbearance period, which allows you to skip a few monthly payments. The payments you skip, however, will need to be paid at a later time.

How Debt Settlement Works

Debt settlement is a financial strategy in which a debtor negotiates with their creditors to pay off a debt for less than the full amount owed. It is typically pursued by individuals or businesses experiencing significant financial hardship and unable to meet their debt obligations in full. Here's a breakdown of how debt settlement works and its implications:

Assessment of Debt: The debtor evaluates their total debt and financial situation to determine if debt settlement is a viable option. This often involves reviewing all outstanding debts, interest rates, and their income and expenses.
Hiring a Debt Settlement Company (Optional): Many debtors hire a debt settlement company to negotiate on their behalf. These companies usually charge a fee, either a percentage of the settled debt or a flat fee. It's also possible to negotiate directly with creditors.
Negotiation Process: The debtor or the debt settlement company negotiates with creditors to reduce the total amount owed. Creditors may agree to a lower amount if they believe it's the best way to recover part of the debt rather than risking getting nothing if the debtor declares bankruptcy.
Accumulating Settlement Funds: The debtor typically stops making regular payments to the creditors and instead makes deposits into a special savings account. These funds will be used to make lump-sum payments to settle the debts once an agreement is reached.
Settlement Agreements: Once enough funds are accumulated, the debtor or the settlement company proposes a settlement offer to the creditors. If accepted, the debtor pays the agreed-upon amount, which is usually significantly less than the original debt.
Debt Resolution: After the payment is made, the creditor typically considers the debt settled and writes off the remaining balance. The debtor should obtain written confirmation that the debt has been settled.

Pros of Debt Settlement

Reduction in Debt: The primary benefit is paying less than the full amount owed, which can significantly reduce the financial burden.
Avoiding Bankruptcy: Debt settlement can be an alternative to bankruptcy, which has more severe long-term impacts on credit.
Potential for Faster Resolution: Debts may be resolved more quickly than through making minimum payments over many years.

Cons of Debt Settlement

Credit Impact: Debt settlement can negatively affect the debtor's credit score because it involves not paying the full amount owed and often includes missed payments during the negotiation period.
Fees: Debt settlement companies charge fees, which can be substantial.
Tax Implications: The forgiven debt amount may be considered taxable income by the IRS.
No Guarantees: Creditors are not obligated to accept settlement offers, and some debts may not be eligible for settlement.

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Contact Fitzgerald & Campbell Today

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Hear From Our Happy Clients

At Fitzgerald & Campbell, your satisfaction is our priority! See for yourself what our clients have to say about working with us.

"Great help from the start!"
Fitzgerald & Campbell were a great help from the start. Seeking their legal help for dealing with debt collectors was the right decision. The process was simple and straightforward, reducing my stress greatly for a reasonable price. Highly recommend!

- C.M.
"Clarity and prompt communication."
We were involved in a tricky sister-state judgment case from a vehicle accident in Nevada. Several attorneys were stumped, but Fitzgerald & Campbell provided clarity and prompt communication to vacate the judgment. The case is now dismissed without prejudice. Highly recommended.

- E.C.
"Fitzgerald & Campbell is Truly Praiseworthy"
I was in a difficult and stressful situation. I was sued and served over an old personal loan.
Fitzgerald & Campbell helped me to settle and lowered the judgment amount in less than a month.
This firm is outstanding and they care about their clients.
Thank you, Ms. Patricia Mendez for being so passionate and so helpful about my case.
Now, am stress free.
Fitzgerald & Campbell is a truly praiseworthy and highly recommended firm.
Thank you.

- E.A.
"You Are All Amazing"
Thank you very much, Ma'am for the immediate help.
You are all amazing!🙏🙏🙏

- E.A.
"Friendly hand to get you out."
Dealing with a judgment and wage garnishment, Fitzgerald & Campbell explained my options to settle and guided me through the paperwork. They handled all communication with the creditor, negotiating a settlement I could afford. They extend a friendly hand to get you back on your feet.

- S.J.

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"I've walked in your shoes! Let me do for you what I learned to do for myself." - Gregory M. Fitzgerald, Managing Partner

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