Credit Card Settlement

• What is Credit Card Settlement?
• Credit Card Settlement FAQ
• Credit Card Settlement Video
• Credit Card Settlement Fees
• Why Wadhwani & Shanfeld for Credit Card Settlement?

What is Credit Card Settlement?

Credit card settlement is the process of negotiating with your credit card creditors to convince them to accept less money from you than you owe but to still release their claim against you so that they cannot later say you still owe them the money. You get to pay less than what you owe, usually significantly less, and your credit card creditors get some money, rather than nothing at all.

Credit Card Settlement FAQ

Q: Is Credit Card Settlement right for me?

A: Credit card settlement can be right for people in different situations.
First, if you have filed a bankruptcy too recently, you may not be able to file again for quite some time, and as such, settling out your debt, including your credit card debt, might be your only option. Not to worry, though, as settling out your credit card debt can be an excellent second option to bankruptcy.

Second, credit card settlement is often a better choice than bankruptcy if you want to maintain a relationship with a particular creditor or group of creditors in the future. Some people have developed special relationships with particular lenders that they want to keep in as good of standing as possible. Since, in a bankruptcy, you cannot pick and choose what creditors to include and which to leave out, this relationship might suffer if you file bankruptcy. Therefore, many people elect to settle their debt to preserve their relationship with a certain creditor.

The best way to find out if credit card settlement is right for you is to give our office a call for a free consultation.

Q: Credit Card Settlement process

A: The credit card settlement process varies quite a bit from lender to lender. For example, some lenders like to settle quickly for a low amount, while others rarely settle, even for high amount. Some creditors handle all collection matters in house, with your claim shifting from department to department, while others will sell the claim out to a collection agency after some point in the collection process. Sometimes it can be hard enough just keeping track of where your claim is, since it can change so frequently. Finally, some creditors will sue you even if you are not that delinquent in your payments, while others wait a long time to sue, or never sue. Lawsuits can make settling a lot harder if you do not know how to address them.

As you can see, the process can be complicated and vary widely, so there is no way for you to know what the process will be like, unless you are a seasoned expert like one of our debt professionals at Wadhwani & Shanfeld. We have settled claims with almost every credit card company out there, and have done so enough times to know what buttons to push with each creditor to get our clients the best settlement possible.

Even if you can’t know what to expect from your creditors, you can know exactly what you should expect from the professionals at Wadhwani & Shanfeld: you can expect to be treated in a highly professional and personal manner and receive constant information on how your settlement negotiations are progressing. You can also expect a great result, as we are able to use our expertise and leverage to get you the best settlements possible.

Q: Do you service my location?

A: We service all of California, with offices in Sherman Oaks, Long Beach, Ontario, Lancaster and Los Angeles.

If it is not convenient to visit one of our offices, we can handle your entire case by phone and email! Please give our office a call for a free consultation.

Credit Card Settlement Video

Credit Card Settlement Fees

We only get paid when you save money. Our compensation is directly tied to the money we save you, thus ensuring that our interests are perfectly aligned with yours. The more we save you (the harder we work), the better our compensation. Who would have it any other way?

TV debt settlement companies, that’s who. They calculate their fees based on your total balance, not how much they save you. That means their only motivation to get you a better settlement is your “happiness” and client satisfaction. Judging by their D and F ratings on the Better Business Bureau, this clearly is not a strong motivation for them.

These companies will say that your balance represents the amount of work they have to do. This defies logic: the real measure of work is actually the total savings because that represents how much your negotiator was able to grind and wear down the creditor’s negotiator, who is paid for his ability to withstand these efforts.

Because we think the amount we save you is the best indicator of how hard we worked, we base our compensation on how much we save you. We think you will agree that it is the best way.

Why Wadhwani & Shanfeld for Credit Card Settlement?

There are a number of reasons to use the professional services of Wadhwani & Shanfeld to settle your credit card debt.

First, we are experienced. We have settle hundreds of thousands of dollars of debt for hundreds of clients. Our debt professionals have negotiated with almost every credit card creditor, and as such have an intimate knowledge of their inner debt settlement workings. We know how to push your creditors to the limit to make sure you get the best settlement possible.
We also have the leverage you need to create the credible fear of non-payment within your creditors. By retaining us as your debt settlement negotiator, creditors will see our other arm, the bankruptcy law firm, as backing up your threats of bankruptcy. We could have you filed for bankruptcy and paying your creditors nothing within 24 hours of rejecting one of our settlement offers, and they know it.

Our fees are also highly competitive and properly set up so that we only make money when you save money. Unlike the companies that you see on TV, which make the same money off of you now matter how poor of a settlement they get you, we only win when you win.

We have convenient offices throughout Southern California, ensuring that we are never far from you. If you do not want to come in to our offices, we can also likely handle your entire matter by phone and e-mail. Please give us a call to see if debt settlement is right for you.