Have you been looking into debt consolidation but aren’t sure how to make it work for you? Does debt settlement in San Diego seem like a good bet, yet it feels like it’s too complicated to make it work on your own? Debt settlement and debt consolidation are serious matters that have to be dealt with properly. Trying to do them yourself will make it practically impossible for you to get what you want or even any positive outcome. It’s best to get an attorney, but it has to be the right attorney.
How Debt Settlement in San Diego Could Work
The idea behind debt settlement is that the party you owe the debt to settles for less than the balance you currently owe. If that sounds like something that could never happen, the truth is that it does. In fact, it might happen more than you might think. Often, what separates the successful debt settlements from the rest is the quality of your debt relief attorney as well as how quickly you can pay. Someone who’s able to offer more money earlier is likelier to receive a favorable debt settlement option versus someone who can pay eventually. If you think that you’re unlikely to be able to pay more of the money earlier, that’s perfectly acceptable. A top-notch debt relief attorney can help you to figure out a debt consolidation plan.
What Debt Consolidation Does
Should the “lump sum” option not be viable for you, then debt consolidation may be the way to go. Here, the debtor and their attorney work with creditors. The idea is that, should particular criteria be met, the creditors agree to lower the interest rate and even possibly the principal balance on their accounts. Debt settlements are different from consolidation, as settlements involve “settling” the individual accounts. Debt consolidation is about putting together an agreement with multiple creditors.
The Importance of an Experienced Professional
As you might imagine from reading the above paragraph, this all gets very complicated rather quickly. This isn’t the kind of thing that you want to go into by yourself. Having an experienced attorney at your side who’s done this before is paramount. By drawing on their experience, the right attorney can put together a debt relief plan that can get you actual relief. The wrong plan, or a poorly constructed one, can set you back even further, making it all that more challenging to get back on your feet financially.
The Larkin Law Firm
At the Larkin Law Firm, we’ve been helping folks with personalized debt solutions for a long time. For some, debt consolidation will be the answer. For others, debt settlement is the way to go. Others can best be served by a Chapter 7 bankruptcy, a Chapter 13 one, a short sale, or something else. The truth is that there is hope, there is an answer. To make the stress go away, call us for a free consultation at (760) 316-6669.