Bakersfield Business Debt Relief and Debt Settlement Lawyers[yoast-breadcrumb]
Finding the Right Debt Relief in Bakersfield, California
Living in Bakersfield and struggling with overwhelming business or personal debt? You’re not alone. Many locals have found themselves falling behind on payments and dealing with aggressive creditors. The good news is there are options for finding relief. With the help of an experienced Bakersfield debt relief attorney, you can negotiate settlements, file bankruptcy, or develop a customized debt repayment plan.This article will walk you through the debt relief options in Bakersfield, provide tips on choosing the right lawyer, and share stories from locals who overcame debt.
The Debt Crisis in Bakersfield
Bakersfield residents owe a collective $3.5 billion in personal debt excluding mortgages, according to a recent study by LendingTree. The average credit card debt per household is $8,030. Meanwhile, Kern County business bankruptcy filings jumped 36% in 2018 according to data from the U.S. Bankruptcy Courts.This crisis has impacted thousands of locals who lost jobs or faced unforeseen medical bills and other expenses. Many relied heavily on credit cards and loans to stay afloat. Now they’re dealing with aggressive collection calls, lawsuits, garnished wages, and other consequences.“I felt so ashamed about my debt. The collectors would call me at all hours and it was beyond stressful,” said Amanda G., a Bakersfield resident who fell behind on $12,000 in credit card payments after a job loss. “I finally decided enough was enough. I needed help before it ruined my life.”
Bakersfield Debt Relief Options
The good news is there are legal options for finding relief from problematic debt:
- Debt settlement: Negotiating directly with creditors or through an attorney to settle debts for less than owed. This helps avoid bankruptcy.
- Bankruptcy: Filing Chapter 7 or Chapter 13 can eliminate or restructure debts so they’re more manageable. Chapter 11 is an option for businesses.
- Debt management plans: Working with a credit counseling agency to consolidate debts into one payment and negotiate lower interest rates.
- Debt consolidation loans: Taking out a new loan to pay off multiple debts at once and get a lower interest rate.
Each option has pros and cons to weigh carefully. A lawyer can assess your unique situation and recommend the optimal approach.
Finding the Right Debt Relief Attorney
With so many Bakersfield lawyers advertising debt relief services, how do you choose? Here are important tips:
- Specialization: Look for attorneys who specifically focus on debt relief, not those dabbling in it as a side practice.
- Experience: Ask about years in practice, number of cases handled, and success rate. Look for lots of experience negotiating with creditors.
- Client reviews: Check sites like Google, Facebook, and Avvo to see real client feedback. Beware of fake reviews.
- Free consultation: Reputable lawyers offer a free case review and advice session so you can judge if it’s a good fit before hiring.
- Cost: Fees vary by attorney and case complexity. Average Bakersfield debt settlement lawyers charge 15-25% of total debt. Chapter 7 bankruptcy runs $1,500-$3,000, Chapter 13 $3,000-$7,000.
- Payment plans: Many lawyers work with clients on affordable payment plans for their services. Don’t let finances deter you from getting help.
- Responsiveness: Look for lawyers who give you prompt, caring attention. You need an advocate in your corner.
With thousands owing over $10,000 in Bakersfield, it pays to have an experienced lawyer fighting for the best possible debt relief outcome.
Real Bakersfield Debt Relief Success Stories
To inspire you that overcoming debt is possible, here are real stories of locals who found freedom with help from a lawyer:Amanda’s Debt Settlement SuccessAmanda G. owed $12,000 in credit card debt that mushroomed to $15,000 with interest and fees. Collection calls were constant. She hired Bakersfield debt relief attorney Phillip Gillet who negotiated settlements of $4,000 on one card and $3,500 on the other.“I’m now debt-free thanks to Phillip’s help. He treated me with such kindness and respect during a difficult time. I highly recommend him to anyone facing overwhelming debt,” said Amanda.How Tom Used Chapter 7 to Wipe the Slate CleanTom L owned a struggling printing business and personally guaranteed $45,000 in equipment leases. When COVID-19 hit, his business collapsed along with his personal finances. Attorney Max Gardner guided Tom through a Chapter 7 bankruptcy to discharge his business and personal debts.“This gave me a fresh start so I can rebuild my life. Max helped me every step of the way. He’s very compassionate and knowledgeable,” said Tom.Rosa’s Chapter 13 Repayment PlanRosa K. was $25,000 in credit card debt after using cards to stay afloat following a divorce. Attorney Bob Herndon put her on a 5-year Chapter 13 repayment plan with only $100 monthly payments. This legally halted collection calls and lawsuits while discharging the remaining balance at completion.“Bob made this very manageable for me. I can breathe again thanks to him,” said Rosa.
Don’t Battle Debt Alone
If you relate to these Bakersfield residents’ struggles, don’t lose hope. You have options for becoming debt-free and restoring your financial health. With an experienced debt relief lawyer guiding you, you can negotiate settlements, restructure or eliminate debts through bankruptcy, and stop harassing collector calls.Every situation is unique, so it’s important to sit down with a lawyer for an evaluation of your specific circumstances. Many offer free consultations, so you have nothing to lose. Debt relief attorneys are there to lift the burden so you can look ahead to a brighter, debt-free future