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You are not alone in the bankruptcy process. Let us serve as your guide, helping you secure maximum debt relief through whichever type of bankruptcy is best suited to your specific case. Contact us today to get started.

It’s possible that you have seen advertisements, billboards, commercials, etc. advertising debt settlement companies. They guarantee that they can make it easy and quick for you to pay off your debt. They assert that they are a superior choice to bankruptcy. Is this true in any way? Tragically, not usually. Most of the time, debt settlement companies fall short of their promises.

If you work with a debt settlement business, it’s possible that you’ll continue to receive obnoxious collection calls, face legal action, have your wages withheld, and have your credit score decline. This is not a viable alternative to filing for bankruptcy and is not a strategy to get your debt paid off. Read on to learn more and then contact The Law Offices of Paul Y. Lee at 951-755-1000 if you want a free legal consultation with a bankruptcy attorney.

There Are Numerous Factors That Make the Idea of Debt Settlement Appealing

At The Law Offices of Paul Y. Lee, we understand why someone might think that Chapter 7 or Chapter 13 bankruptcy is not preferable to debt settlement. It can sound as though signing up for debt settlement might help you resolve some of your financial problems. You may have seen prominent figures criticizing bankruptcy in the media. Debt settlement is frequently described as the “secret” to permanently settling your debt by those who advocate for it.

Finally, it might feel morally right to pay off your debt. The vast majority of people would rather pay their debts than declare bankruptcy, which is something that hardly anyone actually wants to do. Unfortunately, it frequently isn’t in the best interest of the person or their creditors.

The Debt Settlement Agency Receives Payment Initially

Without a doubt, the bulk of debt settlement businesses are in it to earn a profit. They will make sure they do so before your obligations are paid off. Your debt settlement organization will make sure they are paid first, so you could make several monthly payments before a single cent goes to your creditors. Do you want to pay a business each every month and yet have to deal with litigation, wage garnishments, and collection calls? Instead, declaring bankruptcy is a better option.

Because It Works, Bankruptcy Is a Better Option

Filing for bankruptcy only costs a set filing fee plus your legal expenses. The price is the same regardless of the debt load. All debt collection efforts by your creditors are immediately stopped by filing for bankruptcy. Creditors can choose not to participate in debt settlement choices, which is not possible with bankruptcy. A bankruptcy judge has the authority to levy penalties or even imprison non-complainants in order to enforce bankruptcy laws.

As you can see, declaring bankruptcy is generally a better choice. Call The Law Offices of Paul Y. Lee at 951-755-1000 to get started or to learn more about your potential choices and to schedule a free bankruptcy consultation.