Arizona Debt Settlement

Arizona Debt Settlement

Arizona is the state we call home and our national headquarters. We recognize the diversity across the Grand Canyon State and the need that many families have for debt relief. Arizona residents listen to what they hear are improvements in the economy but are left wondering when their personal economy will improve. Different types of debt, including credit card debt, upside-down homes, and student loan debt, are a few of the problems that we help our clients with. Banks can be very aggressive in attempting to collect on these debts when someone is late or has missed payments. Call centers with trained employees make phone calls attempting to collect these debts. Laws protect the debtor against certain tactics, but even compliance with these rules of engagement can be extremely stressful and scary. Credit card companies will now try to collect additional information they don’t currently have, such as phone numbers, employers, and addresses.

Debt settlement means settling the debt for less than the bank claims you owe. We believe a significant reduction in the principal is often needed for an Arizona family to dig out. Companies attempt to settle debt for their clients without offering any legal protection or advice during the process. Banks can (and do) file lawsuits against those who are late and behind on payments, and we strongly believe that legal counsel should handle these lawsuits. Banks hope that the debtor will ignore the lawsuit, knowing that they may not have the money for legal representation, and be able to secure a default judgment from the court, allowing them to then garnish wages as well as other scary remedies.

Ironically, a law firm isn’t necessarily more expensive than a debt settlement company. A good law firm will get paid over time so that the family can put the money together for the needed settlements as well as a legal fee. An experienced local Arizona debt settlement law firm will typically get better results for their clients in terms of the reduction on what is owed while charging a fee that isn’t any more than the debt settlement companies. We recommend choosing a firm with many clients and years of focusing on debt settlement.

The banks typically deal with a handful of local law firms. The attorney you hire to negotiate your debt will be familiar with these various firms if they have experience defending clients against creditor lawsuits. Our attorneys and staff in these offices are able to assist clients with confidentiality and compassion. We understand that many of our clients are worried, aren’t sleeping well, and may have been carrying large credit card balances and other types of debt year after year without seeing much lowering of their balances. Many tell us that just meeting for a consultation with one of our debt attorneys and understanding what their options really are provide a needed boost of hope to what had felt like a bleak situation. Many don’t understand that there are other options besides bankruptcy that are very doable.

The debt attorneys at McCarthy Law take the time to understand what each client’s individual debt situation is. Eliminating the debt is the goal, and the plan might range from 6 months to 36 months. For those who feel like a hamster on a financial treadmill because they have made payments year after year and never reduced the balance, we invite you to visit with us. We don’t represent everyone we meet with, but if we believe we can get a great result for you, we will tell you. There is never any pressure. When you are ready to explore your debt options, we are available by phone chat, or you can click here to get started now.

Scottsdale

The corporate headquarters for McCarthy Law lies in downtown Old Scottsdale, just off Scottsdale Road. We have daily consultations with fellow Arizonans from Mesa, Tempe, Avondale, and Cave Creek, looking for debt reductions.

Alternatives to Debt Consolidation in Arizona

Debt consolidation might seem like a simple fix for financial issues, but it often leads to more problems. When you consolidate your debt, you’re essentially rolling multiple debts into one new loan. While this can temporarily lower your monthly payments, it often comes with higher interest rates and extended repayment periods that can cost you more in the long run. Worse yet, if you fail to meet the terms of the new loan, you could end up with even more financial troubles. At McCarthy Law, we believe it’s crucial to be aware of these pitfalls and are here to shed light on safer, more effective alternatives.

Instead of taking on a new, potentially risky loan, consider these options:

• Debt Settlement: Negotiate directly with creditors to pay off your debt for less than what you owe.
• Debt Management Plans: Work with a credit counseling agency to create a plan that helps manage and repay your debt without taking out new loans.
• Bankruptcy: In some cases, filing for bankruptcy might be the best option to discharge certain debts and get a fresh start.
• Credit Counseling: Seek guidance from certified credit counselors who can offer personalized advice and strategies for dealing with your debt.

By understanding these alternatives to debt consolidation, you can choose a strategy that fits your situation, reduces your overall financial burden, and sets you on a path to financial stability. We help you find one that works best for you and doesn’t put you in a hole you can’t dig out of.

Business Debt Solutions for Arizona

Running a business is challenging, and debt can make it even tougher. Whether you’re dealing with small business loan debt, commercial debt collections, debt from second mortgages, or merchant loan debts, financial strain can impact every aspect of your operations. At McCarthy Law, we collaborate with Arizona businesses to navigate these complex financial waters.

Small business loans are a common necessity, but repaying them can become burdensome, especially when revenue is inconsistent. We help negotiate payment plans that align better with your cash flow, ensuring your business remains operational while you pay down your debts. Commercial debt collection can be aggressive and disruptive, often harming your reputation and relationships. Our legal support aims to mitigate these impacts, offering solutions that protect your business interests.

Debt from second mortgages and merchant loans can pile up quickly, especially if your initial financial projections didn’t pan out. We work to restructure these debts, providing you with more manageable repayment terms. By addressing each aspect of your business debt, we offer solutions that can help you regain control and focus on growth.

Divorce, Payday Loan, RV and Boat Debt, and More for Arizona

Life’s unexpected turns, like divorce, can leave you with overwhelming debt. Legal fees, alimony, and other expenses add up, and many find themselves in a financial bind. At McCarthy Law, we assist with divorce debt, helping you negotiate settlements that aim to lessen the financial blow.

Payday loans are another common pitfall. They promise quick cash but come with exorbitant interest rates and short repayment terms, leading many into a cycle of debt. We provide strategies to negotiate with payday lenders, reducing what you owe and freeing you from this vicious cycle.

For those passionate about their hobbies, RV and boat loans can become burdensome if your financial situation changes. These loans often carry high interest rates and long repayment periods. We can help renegotiate these debts, allowing you to enjoy your lifestyle without the stress of unmanageable payments.

Visit McCarthy Law in Arizona

Arizona residents, known for their resilience and community spirit, deserve solutions that respect their unique challenges. At McCarthy Law, we are proud to serve the people of Arizona from our offices in Scottsdale. We are committed to helping you overcome your financial obstacles, offering compassionate legal support in many areas. Whether you’re a business owner struggling with commercial debt or an individual facing personal financial challenges, we’re here to help clear the path toward a brighter financial future.