Debt Relief Blog | San Diego Debt Settlement Attorney

How To File For Bankruptcy In California During Covid-19

Due to the economic consequences of the Covid-19 pandemic, we have been getting more inquiries lately about how to file for bankruptcy in California. People are wondering what kind of debt relief will be available to them given the extreme loss of income of so many Californians. Debt settlement and bankruptcy are the primary options for those who find themselves in overwhelming debt. We will explain each of these options more in depth and take you through the process for filing bankruptcy in California. Keep in mind that during the Coronavirus outbreak, the bankruptcy courts in California are open – but all hearings are telephonic until further notice.

How to File Bankruptcy in California

One of the main questions we have been hearing is, “how much debt do you have to have to file Chapter 7 bankruptcy in California?” The simple answer is that there is no minimum amount necessary, but that isn’t taking into consideration the big picture. You need to make sure it’s worth filing for bankruptcy in California if you have unsecured debts that you absolutely cannot afford to pay back. If you have lower debts, then a debt settlement might be a better option. A debt settlement is a negotiation made between your creditor and you that you will pay back a (usually significantly) reduced amount of the debt owed over a period of time or in a lump sum. Lenders like this option because they would rather receive some of their debt paid back, than have you declare bankruptcy and receive nothing.

A Chapter 7 bankruptcy is a liquidation bankruptcy. You file a petition asking the court to wipe out (or discharge) your debts – and in return, you give up your property that is not “exempt”. This non-exempt property is sold by the courts and used to pay off your creditors. Chapter 7 bankruptcy California exemptions gives debtors a choice between the state law exemptions in Code of Civil Procedure section 704 and bankruptcy exemptions in Code of Civil Procedure section 703.140, which reflect the exemptions that were federal law when the California law was adopted. Unless you own assets with significant value, you should be able to exempt many assets from a forced sale. Finally, if you own a car, but you still owe money on your loan, you can usually file an agreement that’s called a “reaffirmation agreement” that will permit you to keep your car and continue to make payments.

When people ask us how often can you file a bankruptcy in California, the answer depends on the last time you filed. You have to wait 8 years between bankruptcies, and you can file for a total of three times in your life.

The basic process for filing a Chapter 7 bankruptcy in California involves calculating your income with paystubs from the last 6 months, compiling a list of your creditors, and filing your bankruptcy petition with the courts. You will be required to take credit counseling and you will need to pay the $338 filing fee with the courts.

How to File for Bankruptcy in California During Covid-19 — If you’re wanting to file for bankruptcy, contact Gamez Law Firm at 844-729-4866 for a FREE consultation.

Pros and Cons of Filling Bankruptcy in California

The biggest and most obvious pro of filing for bankruptcy in California is that most of your debt is wiped out and you have a clean slate. Debts that may not be wiped out include your most recent back taxes, most student loans, alimony, child support and fines owed to government agencies. But the stressful calls from creditors will stop with an “automatic stay” that bars your creditors from contacting you. Also, you cannot be discriminated against by your employer for filing bankruptcy under the law.

The cons are that, depending on your individual situation, you could lose non-exempt property such as cars, house, bonds and stocks. Your credit score will also suffer for the next 6-10 years. Although you will most likely be able to apply for a credit card in the future, your interest rate could be higher than it previously was. There are also costs associated with bankruptcy including fees, credit counseling fees, and attorney fees.

If you need help filing for bankruptcy in California, then you should speak with a bankruptcy attorney who offers a free consultation. Never pay up-front fees just for advice. Find a bankruptcy lawyer in California who will listen to your whole story and offer more than one solution to your debt problems based on your particular situation. Our offices are open during the Covid-19 outbreak for a free consultation over your debt issues. Contact us at 844-729-4866 to go over debt issues and we will map out a plan to get you out of debt and on with your life.

Jonathan B. Haskett is a debt attorney serving clients in California and focuses exclusively in debt relief. He is licensed to practice in California. Mr. Haskett owns and operates The Debt Settlement Lawyer in San Diego, and helps people with debt problems all over the country, if possible. For more information, please contact attorney Jonathan Haskett at 844-729-4866, or jonathan@thedebtsettlementlawyer.com. or use our online contact form.

What to Do if Sued by QuickBridge for Small Business Loan Debt in California?

If you are being sued by QuickBridge for small business loan debt in California, you should take action so that a default judgment isn’t filed against you. A default judgment is a binding court ruling in favor of QuickBridge, in this case. Meaning, you lose the lawsuit before you even have a chance to fight. If you are being sued, you could have very good chance of getting out of the lawsuit by reaching a debt settlement with QuickBridge (also known as QuickBridge Funding). A debt settlement is negotiation between the lender and the borrower that the borrower will pay back a (usually greatly) reduced amount of the loan in a lump sum or over a period of time. Why would a lender agree to a debt settlement? Simple – if you declare bankruptcy, then they get nothing. Plus, settlements save all parties in attorney fees. By hiring an experienced debt attorney, the borrower gets out of debt with a settlement and saves money.

sued by QuickBridge for debt — If you’re being sued for debt by QuickBridge, contact The Debt Settlement Lawyer at 844-729-4866 for a FREE consultation.

Being Sued by QuickBridge Funding? Who are they?

Quickbridge Funding offers loans to small businesses in need of capital fast who usually can’t
get a loan with a traditional bank. If you are being sued by Quickbridge Funding, it’s important
to understand they have a tenacious legal team ready to collect on debt. Quickbridge is owned
by California-based National Funding, which is one of the largest lenders for small and medium-
sized business loans. If you have been served notice of a lawsuit from Quickbridge, then it’s the
National Funding legal team who is filing the judgment against you. National Funding has a
seasoned and experienced legal team well versed in filing lawsuits against small businesses who
are having a hard time repaying their loans.

QuickBridge Funding offers loans with varying repayment plans. Often lenders are required to
begin paying back the loan within a few days, and the loans can be very expensive. Because of
these factors, it’s no surprise many small business owners fall behind on their payments and
wind up being sued.

What to do if Being Sued by QuickBridge Funding?

If you are being sued by QuickBridge funding, then you need legal representation to fight back
against their vast and capable legal team. Make sure you find an attorney who focuses on debt
lawsuits with a proven track record of saving clients money while getting them out of debt. You
should be able to speak with a debt attorney and come up with a plan without being charged a
dime. Be aware of debt settlement companies (as opposed to a debt law firm), who the
Consumer Financial Projection Bureau warns can be risky. Attorneys are held to moral and
ethical obligations under the law that debt settlement companies are not.

If you have been sued by QuickBridge Funding for small business loan debt in California, contact
The Debt Settlement Lawyer at 844-729-4866 for a free debt consultation. We will go over your particular
situation and map out a strategy to get you out of debt. We are in the business of saving our clients money.

Jonathan B. Haskett is a debt attorney serving clients in California and focuses exclusively in debt relief. He is licensed to practice in California. Mr. Haskett owns and operates The Debt Settlement Lawyer in San Diego, and helps people with debt problems all over the country, if possible. For more information, please contact attorney Jonathan Haskett at 844-729-4866, or jb@thedebtsettlementlawyer.com. or use our online contact form.

Dealing with Debt in California During the Covid-19 Pandemic

So many in California are wondering how they will deal with mounting debt during the Covid-19 Pandemic and beyond. Most people carry some credit card debt on a regular basis, but with the loss of income for so many during the Coronavirus – increasing debt is a real concern. Not having a steady income can mean not being able to pay down student loan debt, small business debt, medical debt or credit card debt for some time. Not having an income also means people want to hold onto the cash that they do have on hand rather than pay down debt. Below are some facts about dealing with mounting debt of all kinds in California during the Coronavirus. If you have any more specific questions regarding debt during the pandemic, please reach out to us.

Dealing with Debt in California During the Covid-19 Pandemic — Reduce your debt during the covid-19 pandemic by scheduling a free debt consultation with The Debt Settlement lawyer, email jonathan@thedebtsettlementlawyer.com to set up an appointment or call us at 844-729-4866 or click here to schedule your FREE consultation.

A Breakdown of Dealing with Mounting Debt in California During the Covid-19 Pandemic

Credit Card Debt, Medical Debt, and pre-Coronavirus Small Business loans – Many lenders are willing to work with you during these challenging times. Try calling your lender, whether it’s a credit card company or a bank and ask if you can hold off on paying this month’s bill without accruing interest. You can also ask your lender to lower your interest rate. Considering banks are also very nervous during the pandemic, they might not budge – but it doesn’t hurt to ask. Many credit card companies are posting on their websites information about assistance programs including skipping payments and forbearances. A forbearance agreement means the lender allows the borrower to suspend or reduce payments for a set amount of time. If you feel you are drowning in your credit card debt or other kinds of debt – and making payments for the foreseeable future is unrealistic, then a debt settlement might be in your best interest. A debt settlement is a negotiation made between you and the lender that you will pay back a reduced amount of the debt you owe rather than the full amount.
New Small Business Loans – On March 27, 2020 President Trump signed into Law the “Coronavirus Aid, Relief and Economic Security Act” or the “CARES Act”. One of the key provisions of this Act is that it funds $349.4 billion to guarantee forgivable loans to small businesses affected by the Coronavirus. According to Investopedia, “Through the end of 2020, the act extends Small Business Administration (SBA) loans known as 7(a) loans to any business, private nonprofit, or public nonprofit organization with under 500 employees. Borrowers can receive loans equal to 2.5 times their monthly payroll, mortgage, rent, and debt payment expense, up to $10 million. Borrowers can use these loans for a broad range of business expenses, including payroll, paid sick leave, mortgage, rent, utilities, and payments on existing debts.”
Private Student Loan Debt – Again, we recommend making a call to your private student loan lender and letting them know about how your life has been impacted by the pandemic. Ask your lender for leniency and see if you can work with them on a plan for when you can realistically begin making payments again. Your lender might be open to a forbearance agreement. There may also be assistance programs that you can take advantage of during these uncertain times. Be sure to ask if you can refinance your loan and/or get your interest rates lowered. For more general information about private student loan debt, click here.
Federal Student Loan Debt – The CARES Act suspends payments and accrued interest on Federal student loans for 6 months until December 31, 2022. You do not need to apply for suspending your payments, as it will apply to all federal student loans held by the U.S. Department of Education. In addition, there will be a 6-month suspension on wage garnishments and negative credit reporting if you cannot pay your federal student loan because of the Coronavirus impact.

If reaching out to your lenders proves to be fruitless and you are concerned about the repercussions of not paying your mounting debt, then call us at 844-729-4866. We offer a free consultation to go over your particular situation, your debt relief options and to put a plan in place to deal with your debt. For more information on the CARES Act, please visit the US Congress’ website here.

Debt Collection in California During the Coronavirus

The Coronavirus pandemic has upended most of our lives and left so many Americans without an ability to make payments on their expenses. We are all feeling financial anxiety brought upon by an uncertain future. I’d like to give you an update on debt collection in California during the Covid-19 Pandemic from the perspective of a debt relief attorney who is still working with creditors and lenders on a daily basis.

Dealing With Debt Collectors in California During the Coronavirus

Whether you have credit card debt, private student loan debt, small business debt, medical debt or any other kind of debt in California – debt collectors are not stopping collections on old debt at this time during the Coronavirus. The good news is that many debt collectors are being more lenient on payment collections. If you have been sued for debt in California, the lawsuits that were filed before the Covid-19 Pandemic are still being processed. Meaning that process servers are still actively serving people with lawsuits. In some cases, we are seeing debt collectors continuing to collect because they know consumers are most likely at home.

dealing with debt in California from coronavirus — Get help with debt from the coronavirus lockdown, call 844-729-4866 for a free consultation or click here to schedule your appointment.

Will I Be Sued for Debt During the Coronavirus?

At present time, I am observing that most courts are not accepting new civil filings (new lawsuits) until at least mid-April 2020, and that date might get extended. Unfortunately, we cannot predict the future with so much economic uncertainty. Consumers unable to make payments on their debt can most likely expect new debt lawsuits to be filed once the courts begin accepting new lawsuits again. Currently the courts are focusing on lawsuits that are considered emergency in nature, such as domestic violence restraining orders or child-related safety cases.

*** The courts began accepting new filings for lawsuits and we are seeing a significant increase in collection lawsuits being filed by creditors. Each county Superior Court has established their own rules as to whether you are required to attend court hearings in-person or via a remote appearance. Each individual court can set their own requirements based on information received from the Centers for Disease Control and Prevention ***

Watch Out for Debt Relief Scams

Most of the nation has financial anxiety, and scammers are ready to take advantage of it. Be aware of who you reach out to for debt relief advice. Credit counseling services and debt relief attorneys are held to ethical standards under the law that “debt settlement companies” are not. Be sure whoever you reach out to for advice does not charge an up-front fee for a consultation. You should be able to discuss your particular debt situation, your debt relief options and be offered a strategy to deal with your debt before paying a dime.

These are challenging times we are living through with the Coronavirus affecting all our daily lives. If you have any concerns about current or future debt, we are here to help. Call us for a free consultation at 844-729-4866 and we can go over your situation and try to put a plan in place to deal with your debt.

What To Do If Sued By Citibank For Credit Card Debt in California

As a debt relief attorney, I am often asked what to do if sued for Citibank for credit card debt or a loan in California. If a lawsuit has been filed against you, then you need to take immediate action so that a default judgement is not entered against you. A default judgement is a binding judgement in favor of Citibank. Although being served with a lawsuit can be scary, there is a way out. What I most recommend to my California clients is a Citibank credit card debt settlement to save money and get out of their debt lawsuit.

To find out what you can do about high credit card debt in California call us at 844-729-4866 for a free debt consultation or click here to schedule your appointment.

For instance, a consumer owed Citibank over $17,000 on a personal loan from 2008. The original loan totaled $7,997. However, the interest rate varied from between 18% to 28% during the course of his repayment on this loan. After he retired, he went on Social Security and became unable to make the payments on his loan. Citibank ended up selling his loan account to Cavalry Portfolio to collect the debt. Cavalry Portfolio then hired the Winn Law Group to attempt to collect on the loan. When Winn Law Group couldn’t collect, Cavalry Portfolio sued him for over $18,369.50, the balance due with accrued interest, and obtained a judgment against him. This 80-year old gentleman could not afford to pay this since he’s on a fixed income, so he reached out to a debt settlement law firm for lawsuit defense. A third-party was willing to help him get out of this debt with a small loan of $5,000. The attorney negotiated a Citibank credit card debt settlement with the Winn Law Group and Cavalry Portfolio to settle this account for $5,000. The client saved a total of $13,369.52! And he no longer has to be worried about the Winn Law Group coming after him to collect on this judgment.

Sued By Citibank For Credit Card Debt? Here’s What To Do

If you are sued by Citibank for credit card debt or a loan in California, here is what to do. You need to find an attorney who specializes in debt help and that will give you a FREE CONSULTATION to go over your particular case. Once you have been sued for credit card debt, we advise against using a debt settlement “company”, as opposed to a law firm. Citibank has a seasoned and skilled team of attorneys to go after people who can’t pay back their debt. You need an experienced debt attorney who can fight back and win a credit card debt lawsuit. You can win a credit card debt lawsuit and save money. we can save our clients a large percent of their overall debt when we settle Citibank credit card debt.

As an example, a consumer owed Citibank $14,083.05. She could not make the payments and the account went into default. Citibank farmed out the account to Northland Group for debt collection. Northland Group agreed to settle the Citibank debt lawsuit for $2,850, payable over a 3-month period at $950 each month. The consumer only had to pay back 20% of her loan, savings $11,233.05!

When sued for credit card debt, you’ll want a debt attorney to file a proper response in your Citibank lawsuit defense so that a default judgement isn’t entered against you. If a default judgement is entered against you, then you lose the case without a fighting chance. A couple of things you can do on your own before speaking with an attorney include contacting the law firm suing you and asking for “proof of debt” and find out if the lawsuit complies with the Statute of Limitations. If the plaintiff violates the Fair Debt Collection Practices Act or the California Rosenthal Act, then you could file a counterclaim or a separate lawsuit.

Settle a Citibank Lawsuit

To settle a Citibank lawsuit, hiring a debt lawsuit defense attorney is usually your best bet in saving money and getting the lawsuit over with. The Debt Settlement Lawyer offers a free consultation, in person or over the phone, to go over your situation and find the best option to settle your Citibank credit card debt. Our number is 844-729-4866. We help people all over the state of California to solve their debt problems and save money.

If you are unable to pay your Citibank credit card debt they act rather quickly. Oftentimes Citibank sells delinquent accounts to Midland Funding when they cannot get the debtor into a repayment agreement for the full amount due. Midland has sued individuals and obtained judgments for various amount, including a debt of $14,500 we are familiar with. Citibank ended up getting a judgment for that amount. After retaining a debt settlement lawyer, they were able to negotiate a Citibank credit card debt settlement. The lawyer explained to Midland funding the extreme hardships the client had faced in his life, including essentially no income. The client asked a third-party to help with the funding of the settlement. The lawyer negotiated a settlement to pay $6,000 in a lump sum and Midland accepted. This gentleman saved over $8,500 with this debt settlement and is now living a life free of debt.

What To Do If Sued By American Express For Debt

If you are being sued by American Express for credit card debt, you have options in dealing with debt collectors. It’s important to face the debt lawsuit head-on with a solid legal strategy than to have a default judgment filed against you that results in an automatic loss for you. I am often asked if you can reach a debt settlement with American Express. Yes, it’s highly probable to settle with American Express and save money by reaching a negotiation with AMEX Legal, an in-house group of attorneys soley representing AMEX on defaulted credit card debt.

For instance, a debtor to AMEX was battling cancer while going through a nasty divorce when she got notice that a lawsuit had been filed against her for her AMEX credit card debt. A debt relief law firm negotiated an American Express debt settlement on her balance due, which was in excess of $37,800. Through extensive negotiations, the law firm hired by AMEX agreed to accept $10,000 instead of the full $37,800 of the credit card debt owed. This cancer-stricken borrower saved approximately 75% of the balance due, or $27,800.

Being Sued By American Express?

If you are being sued by American Express National Bank, do not ignore the lawsuit. Being served notice of a lawsuit from American Express means they are prepared to take active measures to collect the credit card debt you owe. You could face debt collection harassment such as collection calls, garnished wages, property liens, and/or wage garnishments if a judgment is entered against you. AMEX has vast legal teams that do nothing but sue credit card consumers in default. You need a formidable legal defense to settle with American Express.

If you are being sued by American Express, contact us at 844-729-4866 for a free consultation or click here to schedule your appointment online.

A consumer owed $16,363 on an AMEX credit card. He also has about $70,000 in other credit card debt that he was unable to pay due to a number of hardships. AMEX eventually referred this account out to Nationwide Credit, Inc., a large collection agency. After negotiating for a short period of time, American Express agreed to a debt settlement with the terms that the consumer would only pay 40% of the total amount of the debt due. And because Nationwide had already agreed to settlement on some other debts owed by this consumer on different account, they agreed to accept payments of just $10 per month for a few months until the consumer freed up settlement funds that were going toward the other accounts. After that, the settlement payments gradually will increase at a rate that is affordable to him. He saved $9,817 on this American Express debt settlement.

What To Do If Sued By American Express (AXP)

If you are dealing with debt collectors for an American Express credit card, there are some things you can do to stop the harassment.

File a proper response to the AMEX lawsuit, so that a default judgment isn’t entered against you in a court of law. If a default judgment is entered against you, then you lose the lawsuit without ever getting a chance to fight back.
Contact APX Legal and ask for proof of the debt. Your chances of reaching a favorable American Express debt settlement increase if the necessary proof cannot be provided. However, keep in mind that there are certain deadlines a consumer must adhere to make such a request. If you are uncertain about these deadlines, reach out to a consumer law attorney to see if they can assist you.
Find out if the lawsuit complies with the Statute of Limitations.
Contest improper service in terms of notifying you of the lawsuit.
You could have a counterclaim if the plaintiff violates the Fair Debt Collection Practices Act.

Settle Debt With American Express

If you are sued over American Express credit card debt, then contact us for a free debt consultation at 844-729-4866 to see if we can help you get out of it and settle your credit card debt. It is possible to win a credit card debt lawsuit with the help of a debt lawyer. An experienced attorney can provide you with a promising credit card lawsuit defense and save you money. As our clients will tell you, the money we save them far outweighs our attorney fees. The Debt Settlement Lawyer has offices in San Diego, CA – but we help consumers throughout the State of California with American Express debt settlements. Below are more of our American Express debt settlement client stories.

A consumer owed American Express $33,036. Before a lawsuit was filed, AMEX demanded a full balance payoff, payable in monthly installments. American Express subsequently sued the consumer for the full balance. After a brief back and forth negotiation, American Express agreed to a debt settlement for $16,000, payable over a 15-month term. This consumer saved 52% on the balance due on this account.

Another consumer owed American Express $4,074.02. He also had approximately $120,000 in other credit card debt that he became unable to pay due to a number of hardships. AMEX eventually referred this account out to Firstsource Advantage, a large collection agency. After explaining his extensive hardships and other debts due, Firstsource agreed to accept $1,262 to settle this account in one lump sum. This consumer saved $2,812.00 (appriximately 70% savings on the total debt due).

A young lady owed American Express $35,351.12. She defaulted in payment on this account, as well as several others. AMEX eventually filed a lawsuit against her seeking the full balance due. Over the course of the next year, the debt settlement lawyer continued efforts to negotiate a settlement for her due to the pending lawsuit filed by Michael & Associates. With a pending trial date, she agreed to settle this debt for $20,000.00, payable over a period of 24 months. She saved $15,351.12 and got her into a debt settlement that she can afford to pay over time.

Another consumer owed American Express a lo balance of $2,366.35. The account went into collections when she could longer afford the payments. AMEX sent the account to Firstsource to handle further collections. Once the account reached Firstsource, the account was “ripe” for settlement. Her debt settlement lawyer offered and Firstsource accepted $830 to settle. Due to some confusion, the account shifted back to AMEX before the settlement payment could be made. After proof of the prior arrangement was presented, AMEX agreed to honor and accept the deal. The consumer saved $1,535.35 (65% of the balance due) on this account.

Another consumer owed American Express $35,351.12 and could no longer make the payments. American Express sued her for the full balance due. Facing trial, she did not dispute the amount due and agreed to settle the debt for $20,000, payable over 24 months. Her debt settlement lawyer saved her over $15,000 on this debt and avoided a trial and a potential judgment that would have had her on the hook for the entire amount due.

American Express hired the law firm Nelson & Kennard, to file a lawsuit against a consumer for an account totaling $30,096.72. The account ended up settling for $15,500 (payable in two payments) without having to file an Answer and fight this out in court. The cardholder saved $14,596.72 on this account.

A business owner had a construction company that did not survive the recession. He owed American Express Bank $27,442.36 on a credit card used for this business when he was forced to close it down. American Express sued him and the business for the full amount due, plus court costs and attorney’s fees of $630. AMEX agreed to a debt settlement for a one-time, lump sum payment of $12,000, without having to file an Answer to the lawsuit. The business owner saved $16,072.36 (a 60% discount on the amount claimed due).

A consumer owed $7,804.07 to American Express/Citibank for a Costco credit card. He became unable to pay this account after his business shut down. The account eventually got referred out to debt collection agency Credit Control. Once with them, his debt settlement lawyer negotiated a settlement of $2,731.42, which is approximately 35% of the total balance due. That’s a savings of $5,072.65 on this delinquent credit card debt.

A recent college graduate owed American Express $2,366.55. She had been in default for over a year on this credit card account that she used to make ends meet while in college. AMEX sent the account out to FirstSource for further debt collection efforts. They originally asked for 50% of the debt to settle. After some back and forth regarding her hardships, they agreed to accept a lump sum of $830 to settle this account. She saved $1,536.55 (65%) of the balance due.

After falling behind on her American Express $3,369, AMEX sent her account to Nationwide Credit, which is one of their debt collection agencies. Nationwide originally requested that she pay 60% of this balance to have the account considered settled in full. After a series of phone calls back and forth, explaining that our she is unemployed, Nationwide agreed to accept approximately 30% of the balance, which came out to $1,050.00. She saved $2,319.00 on this account.

An elderly gentleman owed American Express approximately $6,320. He started getting phone calls from 877-434-3248, but the caller would not leave a message. We later learned that this number belongs to American Express Global Collections. After speaking with a representative, American Express Global agreed to settle this account in a lump sum for $2,212, which is 35% of the total balance due.

How To Pay Off Massive Credit Card Debt

Knowing how to pay off massive credit card debt could save you a tremendous amount of money. To get out of credit card debt, you need to be proactive and have a plan. There are viable options out there to paying off massive credit card debt. You can chip away at your debt by carrying out some of the tips described below, or you can take a more audacious approach in eliminating credit card debt with a debt settlement. Keep reading for more information on how to pay off massive credit card debt, or contact me for a free consultation to go over your debt relief options.

Reduce Massive Credit Card Debt

If you have huge credit card debt spread over multiple credit cards and not enough income to forecast an end to your debt struggle, then it’s time to take control of your finances before bankruptcy becomes your only option. There are a variety of ways to get out of massive credit card debt, such as:

The Avalanche Method. Focus on paying off credit cards with the highest interest rates first.
The Snowball Method. Make minimum payments on all of your credit card accounts. Put the most money toward the smallest credit card debt. Then once you have tackled that credit card, move onto putting the most money toward the second smallest debt.
Try to transfer balances on credit cards with higher interest rates to cards with lower interest rates.
Make a budget to pay off massive credit card debt, allotting as many funds as possible toward your debt.
Stop using your credit cards while paying them. Stick to debit cards.

To get rid of credit card legally, a debt settlement could be your best option.

how to pay off massive credit card debt — Follow these tips to pay off massive credit card debt!

Get Rid of Massive Credit Card Debt

Getting out of massive credit card debt with a debt settlement should be handled by a credit card debt attorney who has proven experience. Be aware of debt settlement companies. They are not held to the same ethics under the law as attorneys.

A debt settlement is a negotiation made with the credit card company (ies) that you will pay an often greatly reduced amount of the overall debt in a lump sum or over a period of time. The process involves stopping making payments on your credit card(s), at which point the credit card company (ies) “charges off” your account. At this point, they will most likely sue you for non-payment. The credit card companies would rather not have to pay high attorney fees going after you in a debt lawsuit. Plus, they would rather be paid back some of your debt then have you declare bankruptcy and receive nothing.

How Debt Settlement Can Get You Out Of Massive Credit Card Debt

Here is an example of how a debt settlement is utilized to get out of credit card debt. A small business owner realized that her business stopped generating the revenue it had in the past after the Recession. As a result, she began to rely on a number of credit cards to supplement her income. This is a rather common story for individuals that have a significant dip in their income. Over the course of several years, she had opened 11 credit cards and the balances went up to approximately $73,270.00. She had to shut down her business and could no longer afford the minimum monthly payments, which totaled a little over $1,800.00 per month. The accounts all went into default. She contacted a debt settlement attorney to see if her credit card debts could be negotiated. She enrolled in a plan with the attorney in which she would put money aside monthly to accumulate the funds necessary to negotiate these debts. Over the course of the next two and a half years, he debts were negotiated down, one at a time, based on what she was able to save. In the end, she agreed to settlements on all 11 of her credit card accounts for $29,295.00. She saved $43,978.00 on her credit card debt (a 60% savings on the balances due when she retained the attorney). She has since established a new small business and is thriving without the burden of these high balance, high interest credit card accounts.

An experienced credit card debt lawyer can help you get rid of massive credit card debt faster, since they understand the how to negotiate with credit card companies. Oftentimes, credit card companies turn their debt collections over to law firms who handle multiple credit card company collections. Having a credit card debt attorney on your side who has substantial relationships with these firms can make an immense difference in eliminating credit card debt.

While our have office is in San Diego, we help individuals and small business owners throughout the State of California and Texas. Give us a call at 844-729-4866 and we can arrange for an experienced credit card debt lawyer to look at your particular situation and map out the best route to get you out of debt.

Is Loan Consolidation Or Debt Settlement Better For Multiple Credit Card Debts

Should you get a debt consolidation loan to pay off credit cards or should you negotiate debt with your credit card company? What is the best way to pay of multiple credit cards? Is loan consolidation or debt settlement better for multiple credit card debts? If simplifying your multiple credit card payments is the goal, then a debt consolidation could be right for you. If you want to pay off multiple cards fast (1-3 years), then a debt settlement might be the best option. The best way to pay off multiple credit cards depends on your intended outcome.

What’s The Difference Between Debt Consolidation And Debt Settlement?

A credit card debt consolidation is the process of consolidating (or combining) all of your credit card debts into one larger lump sum. So, essentially, you are combining all of your credit card debt into a new loan. Credit card debt consolidation does not lower your overall debt. It simply puts all of your credit card debt in one place, which is different from a credit card debt settlement. Is debt consolidation a good idea? It can be if you get a lower interest rate for your new loan. Keep in mind, although the interest rate is lower, you will have to pay back the same overall debt amount as before – unlike a credit card debt settlement.

is loan consolidation or debt settlement better for multiple credit card debt — What’s best for multiple credit card debt? Get a free consultation by calling 844-729-4866 to find out if loan consolidation or debt settlement is better for you. Click HERE to schedule your FREE CONSULTATION.

In a credit card debt settlement, a negotiation is made between the credit card borrower and the bank/lender that the total amount of the debt owed will be (usually greatly) reduced. Depending on the negotiation reached, the debt can be paid off in a reduced lump sum or over an extended period of time. The debt collectors like debt settlements because they would rather save costly attorney fees related to chasing down your credit card debt. Plus, lenders would rather receive some of the debt you owe them, than to have you declare bankruptcy and get nothing. There are pros and cons of debt settlement. Your credit score will have to take a dip, since you stop paying your credit cards for a period of time. This is so that your credit card accounts are considered “charged off” and this puts you in a place to negotiate a debt settlement. Once your debt settlement payments are complete, your credit score will begin to rise and your debt is gone relatively quickly.

Loan Consolidation Vs Debt Settlement: Which Is Better For Multiple Credit Card Debts

What is better debt consolidation or debt settlement for credit card debt? There are cons for debt consolidation, such on taking on a personal loan to pay off credit cards. If the goal is to pay off multiple credit cards fast, then a debt consolidation isn’t right for you. You will still have the same debt, but just consolidated into a new loan. Getting rid of your massive credit card debt is one of the fundamental pros of a debt settlement. With a debt settlement, there is a plan in place to completely get rid of your credit card debt. And if you have multiple credit cards with massive debt, then you can often reach a more favorable debt settlement.

Pay Off Multiple Credit Cards With Debt Settlement

If you are still wondering the difference between debt consolidation and debt settlement and which is better for you, then contact me for a free debt relief consultation at 844-729-4866. We will let you know your options for the best way to pay off multiple credit card debt, based on your unique situation. Be aware of debt settlement companies, as they are not held to the same ethical standards under the law as a debt settlement lawyer. You can get out of massive credit card debt, as you can see from my debt relief success story page. The savings we obtain far outweigh our attorney’s fees.

Have You Been Sued By Debt Collector LVNV Funding?

being Sued By Debt Collector LVNV Funding

Have you have been sued by the debt collection company LVNV Funding for credit card debt? If so, then you were probably served a lawsuit by Patenaude & Felix, the law firm LVNV Funding uses to sue borrowers who default on their credit card debt. It’s important to understand how to deal with LVNV Funding. The law firm of Patenaude & Felix focuses exclusively on debt collection, so you need a solid defense to defeat a LVNV Funding lawsuit.

Who Is LVNV Funding?

Most people who have been sued by LVNV Funding don’t know who they are or why they are being served a lawsuit. LVNV is a debt collection company that purchases defaulted credit card debt, mostly from Sychrony Bank. They offer credit cards for over 100 retailers including Citibank, Chase, American Express, Banana Republic, and Old Navy. So if you haven’t been able to make those credit card payments and your account has fallen into default, then LVNV Funding can purchase that debt for huge discounts and sue you to recover the debt. While it can seem daunting to be served with a lawsuit, there are viable options in dealing with LVNV Funding to get out of debt and save money while doing it.

Can I Beat an LVNV Funding Lawsuit?

Yes, it is very possible beat an LVNV lawsuit if you act fast by negotiating a debt settlement. A debt settlement is a negotiation made between the borrower in default and the lender (LVNV in this case) that the borrower will pay an often greatly reduced percentage of the debt in a lump sum or over a period of time. LVNV would rather settle your debt than pay for a team of lawyers to sue you in costly litigation. Plus, they would rather receive some of your debt then have you declare bankruptcy and receive nothing. You can try to settle your debt on your own if the debt is really small or you can hire a debt settlement attorney who has experience in negotiating a settlement with LVNV Funding. An experienced debt lawyer will get you the best possible outcome and save you money.

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For instance, a consumer owed Synchrony Bank $1,933.51 on a defaulted debt originally owed to Lowe’s. The debt eventually got sent out to collections from Synchrony Bank to Resurgent Capital. When Resurgent could not collect, the debt got sold to LVNV Funding. LVNV Funding referred the account to the Patenaude & Felix law firm to collect the debt. Knowing a lawsuit was around the corner, a debt settlement lawyer negotiated a settlement with LVNV Funding for a one-time lump sum payment of $870.00 (45% of the amount claimed due). This debt settlement saved him $1,063.00 on this collection account and helped him avoid a potential lawsuit that would have requested the full balance of the debt due, plus additional attorney’s fees.

Do I Need to Hire a Lawyer if LVNV Funding Files a Lawsuit Against Me?

If you are sued by LVNV Funding, it’s in your best interest to have a legal defense that can stand up to their vast resources. If you ignore a LVNV lawsuit, then the law firm representing them will most likely file a lawsuit against you and obtain a Judgment, which could allow them to seize your funds in a bank levy, garnish your wages or record a lien on your property in order to pay the debt that you owe. Be aware of debt settlement companies, as they are not held to the same standards and ethics under the law. Beating a LVNV lawsuit with a debt settlement means that your debt problem is over. And once the settlement is complete, your credit score will begin to improve quite rapidly.

The savings we offer far outweigh the attorney fees. If you have been sued by LVNV Funding, then contact us at 844-729-4866 for a free debt consultation. We will go over your lawsuit and give you the best options for getting out of debt based on your unique situation.

Sued By National Funding? Here’s What To Do

what to do if sued by national funding for debt

If you have been sued by National Funding, then you need to take immediate action. Do not ignore a National Funding Lawsuit. National funding has a team of in-house attorneys that are devoted to suing small business owners who are not been able to repay their loans.

Who Is National Funding Inc

National Funding is private lender for businesses in need of funding to stay afloat. Oftentimes, the loans they offer include a personal guarantee signed by the business owner. This means that if the business owner cannot repay the loan, then the business owner is personally responsible for the debt. If you are wondering “why is National Funding suing me”, then you probably took out a business loan and fell behind on payments. So now you are being sued by National Funding for business loan debt.

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Win A National Funding Lawsuit

If you need help with small business loan debt and have been sued by National Funding, a debt settlement might be your best option. A debt settlement is a negotiation between the borrower and the lender that the borrower will pay a (usually greatly) reduced portion of the loan in a lump sum or over a period of time. The lender would rather receive some funds from you than none if you declare bankruptcy. Plus a debt settlement saves the lender money in attorney fees fighting you in a legal battle.

It’s tough to downright win a small business loan lawsuit if the terms of the loan are proven valid and you have defaulted in making payments on the loan. Many small business owners who need help with small business loan debt immediately panic and think they need to file for bankruptcy. If you have been served with a National Funding Lawsuit, then you might have a better chance of saving your business and money with a debt settlement.

If you want to settle National Funding debt, give me a call for a free consultation at 844-729-4866. We will look at your case and let you know your best options – be it bankruptcy, a National Funding debt settlement, or another approach to getting you out of debt. In order to fight your National Funding lawsuit, you should consult with a lawyer. National Funding’s lawyers are devoted to suing borrowers for non-payment, so you need an experienced debt settlement lawyer on your side. Although our offices are located in San Diego, we can help people all over California settle National Funding debt. Also, most contracts you sign with National Funding have a clause that a lawsuit can be filed in California, regardless of whether or not your reside in California.