Debt Relief and Settlement for Borrowers in Oxnard

Working with creditors to avoid bankruptcy

Even if you or your business owes substantial amounts to your creditors, your debts are never written in stone. The amount or even the existence of some debts may be disputable, allowing you to negotiate a lesser amount in exchange for waiving your right to challenge the debt. In other cases, lenders may be willing to take a lump sum up front to settle debts now and end future payments. These tools can allow beleaguered borrowers to reduce overall debt without bearing the consequences of bankruptcy. At the Law Office of Michael H. Raichelson, we understand how creditors think and operate. We use that knowledge to leverage favorable debt settlements for our clients.

Settling contested debts

A viable legal claim has inherent value, even if a court has not ruled on it. An experienced Oxnard & Woodland Hills debt relief attorney can review your contracts with creditors to determine if there are any legal defenses you could assert:

  • Insufficiency of the contract
  • Fraud or misrepresentation
  • Illegality
  • Unconscionability
  • Ambiguity
  • Breach

A similar approach may be used to stall or prevent foreclosure if the lender failed to properly perfect its security interest or otherwise violated legal procedures regarding the foreclosure process. Under the right circumstances, even the mere possibility of a debt being challengeable, coupled with the threat of Chapter 7 or Chapter 13 bankruptcy, may be sufficient to convince a lender in Sherman Oaks or Encino to offer a settlement.

Settling uncontested debts

Even if a debt is not subject to dispute, debt settlement remains an alternative. Lenders know they could lose a great deal of money if a borrower receives a discharge in Chapter 7 bankruptcy. Proceeding under the assumption that money in hand now is more valuable than a promise to pay in the future, some lenders may be willing to settle even undisputed debts for substantially less than the principal amount so they can close out what they view as a risky account. Failing that, some lenders may be willing to consent to loan modification in order to make future payments more likely to occur. In either case, however, your lender must be sufficiently convinced you are unable to continue making payments under the terms of the contract.

Our attorneys can negotiate with creditors on your behalf

Successfully dealing with debt in Ventura or Oxnard often means confronting your creditors directly. At the Law Office of Michael H. Raichelson, our attorneys use their years of practical experience in debt relief and bankruptcy practice to aggressively and effectively negotiate on behalf of our clients. Call our office today at 818-444-7770 or contact us online to schedule a no-cost initial consultation where one of our attorneys can review your situation and determine how we can best assist you.


The Law Offices of Michael H. Raichelson is located in Calabasas, California, and serves clients in and around Woodland Hills, Wilmington, Harbor City, Carson, Torrance, San Pedro, Long Beach, Compton, Ventura, Gardena, and Los Angeles County.