Bankruptcy Law | Debt Settlement



Bankruptcy is not the solution for everyone. There are often other options that can and should be considered before making the decision to file for bankruptcy. 

Debt settlement is a practical solution for those who have accumulated unsecured debt, also known as debt that is not backed by any underlying asset. Unsecured debts often include credit cards, medical bills, and any other types of loans or credits not backed by collateral. 

Since unsecured debt is not backed by assets, creditors of these debts are aware that they might not receive anything if the debtor chooses to file for bankruptcy. Therefore they are often willing to negotiate some sort of a settlement agreement. However the negotiations process is not always an easy one. Negotiations require knowledge, aggressive experience, documentation, and careful record keeping. If skillfully negotiated, debts can be settled for fractions of what was originally owed.

Whether you have decided on debt settlement or simply want to explore your options before bankruptcy, the Law Offices of Lucy Zheng can guide and represent you through the process to negotiate the best possible settlement for you. 

Contact us today for an initial consultation to discuss your available options.