Debt-Settlement
& Negotiations
Many debts can be aggressively settled by the Law Offices of Sheila Esmaili, since settlements are usually mutually beneficial, especially when creditors are faced with the alternatives of a negotiated resolution or a bankruptcy filing.
The Law Offices of Sheila Esmaili is frequently retained by its clients to engage in negotiations with banks, mortgage holders, credit cards, car financing companies, landlords, business creditors, tax creditors and other creditors. Because of our extensive experience with creditor negotiations, our specific expertise with matters that pertain to debtor-creditor relations, and our ability to threaten the alternatives of filing for bankruptcy, we greatly improve the likelihood of reaching a settlement with creditors.
The Law Offices of Sheila Esmaili frequently negotiates and settles the following types of debts:
a) Credit Cards – Credit card and collections debt, as well as unsecured personal loans;
b) Tax Debt – Owed to the Internal Revenue Service (“IRS”) and to the Franchise Tax Board ("FTB");
c) Student Loans – Both government backed and private student loans are open to negotiated resolutions;
d) Business Debt – For individuals seeking to reorganize their businesses and those seeking to close their businesses:
e) Judgments - Lawsuit judgments that are often exorbitantly high;
f) Medical Debt – For individuals not covered by health insurance, lapsed insurance, and partial coverage insurance;
Most of the clients coming to our office with credit card and other unsecured debt (personal loans, medical bills, and other miscellaneous debt) are initially interested in bankruptcy solutions since they are usually thorough, certain and uniform in eliminating, reducing or reorganizing debt. However, despite the strong role of bankruptcy solutions in providing debt relief, negotiated debt settlements also play a large role. There are many instances where our clients have either too much income to qualify to file a Chapter 7 bankruptcy case or they may have too much equity in assets to make a bankruptcy case a good choice to sufficiently alleviate their debt situation. Some debts are high risk for objections to their discharge in a bankruptcy case or are completely non-dischargeable under the law. In other situations the debt is not sufficiently overwhelming to require a bankruptcy case and the client may be better served by negotiating for a lower payment for the debt that they can affordably pay.