Janice Munoz

Debt Settlement Attorney In Redondo Beach

Every day there seems to be a new program advertised on the radio or television for helping people get out of debt. From debt consolidation to bankruptcy to debt settlement, it is difficult to sort out which ones are viable solutions, and which ones are not. Many make outrageous promises but commonsense suggests that the claims can’t possibly be real. Regardless, it is difficult to sort out the scams from legitimate help.

As an experienced debt attorney, McCarthy Law helps people sort through your real world debt challenges.  We offer genuine solutions for people who are burdened by debt.  Often clients have come to us having been in a disappointing program they have seen on late night television. Financial challenges can often become legal problems and these non-lawyer solutions are simply not equipped to help folks who find themselves in need legal aid.

Janice Munoz heads our Redondo Beach office, and enjoys meeting with her clients face to face to determine if we are able to help or not.  She has over 20 years of experience and is caring and competent.  She is focused on helping individuals through difficult times and never forgets that we work with individuals and families who are overwhelmed both emotionally and financially.   Janice and her staff understand how overwhelming and depressing debt problems can be, and she is ready to listen to you and then help to create a program that fits your individual circumstances and timelines.

How to Know if You Are a Debt Settlement Candidate

Entering into a debt settlement program can feel like a significant decision. A debt attorney can typically save you a lot of money, and therefore people mistakenly think it will cost a lot of money.  Before you engage a law firm, consider these questions:  Is the firm willing to take small payments over time because they understand you don’t have much money to hire an expensive attorney?   Are they able to reduce my debt and save me a substantial amount of money?  Will it be less expensive to hire an attorney versus trying to settle the debts myself?  If you answered yes to these questions, you need a debt relief attorney.

What is Debt Settlement?
A solid debt settlement program isn’t an overnight fix. Our debt settlement program at McCarthy Law allows you to put aside money each month into a type of savings account that will allow settlement dollars to accrue. Once an account is negotiated and significantly reduced, we use that money to pay off each debt.  That account is also used to pay the legal fees over a long period of time.  The amount that you put into this savings account each month will be an amount you are comfortable with and decided by you and your attorney.  Once you stop making minimum payments on your credit cards and dealing with the high interest rates, it is easier to really start chipping away at the now considerably lower principal balance.

What Can a Debt Settlement Attorney Do?

• Negotiate a significant reduction in what creditors claimed is owed.
• End minimum payments and any additional interest. The balance that you have when you become a client will be the balance that is negotiated by the firm. No additional interest or bank fees will be added on to the negotiated debt amount.
• Handle all communication with your creditors and collection agencies.  After representation begins, third-party debt collectors are no longer allowed to contact you directly.
• Help you avoid Chapter 7 and Chapter 13 bankruptcies
• Help you avoid foreclosure
• Save you money.  The total cost of the lawyer’s help is often less than what you are currently paying in interest every single year.

How Long Will it Take to Be Debt Free? 

Federal law requires your credit card statements to show the length of time it will take to pay off your debt if you continue making the minimum payments. It is not uncommon for this number to be 15, 20, or even higher.   These minimum payments don’t factor in using the card for future purchases or increased interest rates if you make a payment late or miss a payment.  Continuing to make the minimum payments is certainly not a real solution for most hard-working, stressed out families.

We work with our clients to create an individualized program to put together the money over time. Programs range anywhere from 6 months to 36 months. While that seems very aggressive for someone who has been
carrying a balance for many many years, the math works because the principal balance is significantly reduced and the outrageous interest is turned off.  .  If you are like many people that we see, your balance hasn’t changed much from year to year although you may have stayed current in making minimum payments all along. This is often the most frustrating part for people and it seems impossible to ever catch up let alone make a dent in the balance.  When you sign with McCarthy Law, you immediately get to step off that human hamster wheel you have been on and start down the road to truly becoming debt free.

What Types of Debt Can Be Settled? 

• Credit card debt
• Private student loan debt
• SBA loan debt
• Personal loans
• IRS tax debt

Why A Lawyer Instead of a Debt Settlement Company?

One misconception people often have is that their bank won’t sue them on a credit card balance. This simply isn’t the case. Some banks and other creditors are quick to sue if you have missed payments, made late payments, or your payments were less than the minimum.  In this situation, your debt problem has just become a legal problem.  While debt settlement companies will offer to settle your debt, they simply can’t help you when it comes to dealing with these lawsuits.
Another distinguisher between an attorney and a debt settlement company is that the negotiated amounts are typically better with a debt settlement attorney. Whether it is the negotiation from an attorney or the threat of a lawsuit with the debt settlement company, an attorney will usually get lower settlement amounts. This means that it costs the client less to hire an experienced attorney and you get better results.

The reason why most good people don’t know what their options are is because debt and financial hardships aren’t generally talked about openly among family and friends. Our Boulder office is ready to help you understand what your options are, and anything we discuss is always protected by the attorney-client privilege.  The fact is that there are good solutions available to help people who are dealing with significant debt challenges.  Solutions other than bankruptcy that don’t have long-term ramifications on your credit.

What If I Continue To Do Nothing?

Making the choice to do nothing is still a choice. Often people’s optimistic hope works against them as they continue to believe that things will get better. The expected raise or bonus never seem to come at the right time and your debt continues to increase because you don’t make any changes. Denial is a powerful force as discouraged people believe their debt problems will never go away.  Our rule of thumb is that if you have been maintaining debt for years without the balance significantly shrinking, or you are having a hard time making your minimum payments, it’s time to seek competent legal help. Let us have the opportunity help you get your life back.

When Is The Time Right?

Often the most difficult decision you will make is to pick up the phone and call for an appointment. Help is available once you are able to ask for help.  Meeting with one of our attorneys is always free but we are often told that the meeting itself provides much needed help when real solutions are uncovered.  Our attorneys and staff at the Boulder office are empathetic and will help you make the first move toward becoming debt free.  McCarthy Law understands the many challenges that families with debt have, and we have an interest in helping you, not judging you.  Many good people who have always been very financially responsible have found themselves in a difficult spot because of the declining economy we have had for many years now. There is never any cost or obligation to meet with us in our Boulder office to find out what your options are and to decide how best to move forward.  If you have questions, feel free to contact us by phone, chat, or by filling out the form above.   We stand ready to help you when you are ready to move toward becoming debt free.  It can be reality for you. Some things are not too good to be true.