RECENT CLIENT SUCCESS STORIES:
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Our client owed Citibank in excess of $14,000. After sending several letters to various departments of Citi's collection departments, they agreed to take the balance down to $0.00. That's a 100% savings! This was the final account for our client and he is now heading into retirement debt free!
Our client owed Cash Central in excess of $4,500.00 on a payday loan. We negotiated a settlement of $1,000.00, with payments over 10 months. We saved our client approximately 78% of the total balance claimed due.
Debt buyer Cavalry SPV sued our client for a debt previously owed to Citibank in the amount of $15,168. We were successful in reaching a settlement in the amount of $3,000, without having to answer to the lawsuit. We saved our client approximately $12,000 on this debt without her having to deal with the stress and cost of litigation.
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Legitimizing My Debt Settlement Practice in a Landscape of Debt Relief Deception
Debt is everywhere we turn. Student loan debt, credit card debt, medical debt, small business debt. As a debt settlement attorney, I meet people every day who feel overwhelmed and are vulnerable to “debt relief” companies trying to take advantage of their situation. It’s often difficult to weed out who is a legitimate debt relief company versus who is preying on those in a difficult situation.
A recent debt relief scam that I heard about involves Orange County residents Athena Maldanado and Christopher Harati. They worked for Nelson Gamble & Associates in Irvine. Maldanado and Harati just copped to conspiracy for falsely telling customers that they work for a law firm and could favorably negotiate debt settlements with creditors. In reality, they were a debt relief company and not a law firm......READ MORE
DEBT SETTLEMENT FAQ:
Why Would A Creditor Agree to Accept my Debt Settlement?
It’s no big secret that banks are in the business of making money. Especially when they get a consumer stuck in the cycle of paying the minimum monthly payment, resulting in a small principal pay down. But, once you stop paying the minimum, they lose their income and debt settlement allows them a way out, since the banks can now claim your account as a loss. They then use the losses to offset other profits and reap the benefit of creative bookkeeping.