Irvine Debt Relief Lawyer

What is debt relief?

Debt relief is s defined as the alternatives a person may use to reduce or eliminate debts that they currently owe.  If an individual is having problems paying their mortgage, is paying for one credit card by using another, or has started to use savings to pay bills, they need some form of debt relief.  This is also the case if one has received notification of foreclosure on their home.  It is vital for this situation to be addressed immediately before the consequences become more critical than they already are.

An experienced Irvine bankruptcy lawyer from the Law Offices of  Arthur R. Hausmann has helped dozens of individuals in Irvine, Huntington Beach, Costa Mesa, Anaheim and Santa Ana achieve debt relief and the peace of mind that goes with it. 

Some Alternatives for Debt Relief

There are many things that can be done to help pay down and eliminate one's debts, including:

• Debt consolidation.  This mean that all debts, including credit cards and loans, are rolled into one loan with one payment made each month for a period of years.  If one owns a car or home, it may be possible to negotiate a loan with a better interest rate.
• Debt negotiation.  An experienced attorney will negotiate with creditors to lower the total monies owed on debts.
• Loan forbearance.  A creditor may agree to put a hold on loan payments for several months, giving the debtor time to recover from temporary financial difficulties.  The missed payments would then be made up at a later agreed upon time.  This alternative typically requires a stable payment history.
• Loan modification.  A lawyer will negotiate with the lender to change the interest rate or term of the loan, or to lower the amount paid each month.
• Bankruptcy.  If necessary, filing for Chapter 7 or Chapter 13 bankruptcy may be an alternative to consider.

Contact an Irvine Debt Relief Attorney today for a free debt evaluation.