Have debt collectors gotten authorization to start garnishing your wages‚ making it difficult to pay the bills and feed your family?
If so‚ a Los Angeles bankruptcy filing will immediately stop the debt collectors from garnishing your wages. Consult with Los Angeles Bankruptcy Attorneys and discuss the options you have to recover from debt.
A recent Fox News story says that wage garnishment is usually a last ditch effort for debt collectors. The authors of the article suggest speaking with creditors and agreeing to a payment plan. That is often sound advice.
There are some good options to help you avoid bankruptcy‚ as bankruptcy might not be the best option for you. Some alternatives to bankruptcy in California include credit counseling services‚ debt consolidation and debt negotiation and settlement. However‚ many of these services have costs and fees of their own. Often‚ they will result in a damaged credit score and long repayment plans. In some cases‚ they may only be delaying a consumer’s bankruptcy filing and his or her ability to make a fresh start.
Call for a consultation.
- Credit counseling can put you in a position to negotiate with creditors because it shows you are serious about working out your debt problems. Sometimes‚ credit card companies will work with you pay off your debt in a manner than can help you‚ but they are not obligated to do it and may not. The counselors will also charge you fees for their work‚ so be careful.
- Debt consolidation can help you if you can get a lower interest loan to pay your high-interest debt‚ but this may not be feasible if you already have a lot of debt. You may also have to use your home as collateral‚ putting that at risk in the process.
- Debt negotiation and settlement means making an offer to immediately pay off a debt with a lump sum that is less than what you actually owe instead of making continued payments month after month. But as is the case with most people in debt‚ if you don’t have a large sum of cash available to pay the debt‚ negotiation and settlement may not work.
Los Angeles Bankruptcy Attorneys will provide a free consultation to help guide you in making a decision that works for you. These alternatives to bankruptcy may work in your individual case‚ or it’s possible that bankruptcy will keep creditors from taking your hard earned money. But don’t do it alone. In Encino‚ Glendale and Los Angeles‚ just call.
If you need to speak with a bankruptcy attorney in Los Angeles‚ Encino or Glendale‚ contact Cal West Law at (818) 446-1334 for a free consultation.