California Debt Relief | Get Your Finances Under Control With CuraDebt
Do you have debt and feel like your life is being crushed under its burden? Are you looking for a solution, essentially debt relief? Do you live in the Golden State? If your answers to these questions are yes, then our California debt relief program is the perfect choice for you.
The debt market is flooded with so many different options. The amount of information that is out there can become overwhelming and it may feel impossible to decide on what’s best for you.
This is where CuraDebt comes to your rescue. CuraDebt is one of the oldest, most experienced, licensed, and bonded organizations, saving hundreds of people from debt fatigue.
Since 1998, CuraDebt has been helping people to overcome financial struggles by providing them with a legal and ethical debt relief program. Our founder, Eric Pemper, has seen the negative effects of debt first hand – he has expanded nationwide in 2000 to help people who were struggling with debt fatigue.
Receive fantastic advice, tons of debt relief options, a personalized debt relief program, and estimated savings here.
Table of contents
- California Debt Relief | Get Your Finances Under Control With CuraDebt
- California Debt
- Laws That Protect California Residents From Debt Collectors
- What Are The Most Effective Debt Relief Options For You In California?
- Types of Debt Included in California Debt Settlement Program
- Debts Not Included In Debt Settlement Program
- Debt Included In Tax Debt Relief In California
- Business Debt Relief Program in California | Types Of Debt Included
- Top Cities in California Where You Can Find Debt Settlement
- What Are The Different Options You Have For Debt Relief In California?
- Debt Relief California FAQs
- What Makes us One of the Best Debt Settlement Companies in California:
- Get your free savings estimate at CuraDebt or give us a call at 1-877-850-3328.
- Take a look at different options for debt relief at CuraDebt that can maximize your savings ultimately.
- Too busy to speak with a counselor? We understand! Check out our online analyzer here.
Are you a California resident and feel like your debts are taking over your life? You are not alone. In fact, California has the highest overall debt of any state in the nation.
When we look at the average person in California, they carry more than $3,800 in debt.
California is the most populous of all the states in the USA. It has the third highest cost of living. However, its per capita income ranks ninth among all the states.
In order to fill the gap between income and the average cost of living, California residents typically rely on credit cards and loans. Although it may feel like getting a credit card or a loan is a great idea because you can borrow money upfront, the debt incurred can be detrimental.
Undeniably, financial distress and anxiety are two conditions that come with dealing with debt which can have tremendous impacts on your everyday life. Particularly horrifying is Debt fatigue – which can turn your life upside down.
If you are struggling to handle this overwhelming challenge, consider debt consolidation to manage and take control of the situation again. CuraDebt can make your whole Debt Consolidation journey a lot smoother and easier.
Laws That Protect California Residents From Debt Collectors
Debt Collection Laws were created by state and federal governments. In addition to the federal laws, the California government decided to put extra laws into place in order to provide even more protection to its residents from debt collectors. In fact, California is the nation’s leader in consumer-protection debt collection laws.
On a federal level, the Fair Debt Collection Practices Act (FDCPA) was created to protect consumers across the U.S. It regulates how debt collectors can try to get you to pay a debt. Along with other things, the FDCPA:
- Forbids debt collectors from using deceptive and unfair tactics
- Governs what time of day the debt collectors can contact you
- Mandates that collectors honor a request not to contact you
In addition to the FDCPA, residents of California are also protected under the Rosenthal Fair Debt Collection Practices Act (RFDCPA). The RFDCPA, was created to cover more types of collectors and gives more protection to consumers. It goes a step further than FDCPA because it applies to any business that is involved in debt collection, including:
- Collection agencies
- Original creditors
- Repossession agencies
- Debt collection lawyers
If you’re a California resident and a collector breaches the Rosenthal Act, you are able to file a complaint with the Attorney General’s office, file a lawsuit against the collector, or even use violations of the law as a bargaining chip in settling your debt.
The main difference between the Rosenthal Act and the federal Fair Debt Collection Practices Act is that the Rosenthal Act is more expansive, and applies to original creditors in addition to third-party collectors.
If you have received phone calls harassing you about your debt, schedule a time to talk with a CuraDebt counselor. CuraDebt cares about your rights and will help you to defend against illegal debt collection practices and violations.
What Are The Most Effective Debt Relief Options For You In California?
Debt Settlement Programs and How Do They Work?
Debt settlement (also known as a debt settlement program, debt negotiation, arbitration, or debt forgiveness) is the process of negotiating with your creditors to pay less than the full amount owed on your debts. These programs can reduce or eliminate late fees, collection costs, and interest charges while saving you money on interest and fees paid over the life of the debt. Debt settlement works by you placing an agreed-to amount into a special purpose account on a monthly basis. If you have a lump sum amount to get started or have access to a lump sum, it may accelerate the speed of the program.
At CuraDebt, our program is designed to help you save as much money as possible, as quickly as possible, based on your unique financial situation. We will use our expertise, contacts, and proprietary methods to get you the lowest legal amount possible. After getting your settlement letter with all the negotiated terms, you can be debt-free in a matter of a few years.
Benefits Of Debt Settlement
If done right, debt settlement comes with a ton of benefits for your financial and even overall health. Some of the benefits are:
- You pay the lowest legal amount possible as compared to a high initial amount.
- Typically, paying debt can take 15 to 20 years. We help you settle your debt as fast as possible!
Factors Affecting Debt Settlement
The ultimate saving after debt settlement depends on a lot of factors including
- Total experience of the debt settlement organization (just a reminder we have +20 years of experience!)
- The age of the debt
- Your financial situation
- Your previous payment history
Types of Debt Included in California Debt Settlement Program
- Credit cards
- Car repossession (repo)
- Credit unions
- Department store cards
- Collection accounts or accounts already with collectors
- Personal loans
- Personal lines of credit
- Private student loans
- Signature loans
- Medical bills
- Any type of unsecured debt
Debts Not Included In Debt Settlement Program
- Car loans
- Credit Union debts
- Federal student loans
- Home mortgages
- Other secured debts
- Medical / Hospital bills
Debt Included In Tax Debt Relief In California
CuraDebt will point you in the right direction with your tax debts. CuraDebt can help you with these types of tax payments
- State Taxes
- Federal Taxes
- Payable Taxes
- Taxes from the spouse you feel you don’t owe
- Audit Tax Assessment
- Other Types of Tax Debts
Business Debt Relief Program in California | Types Of Debt Included
CuraDebt understands how important your business is to you. CuraDebt will help your business with these types of debt.
- Business Debt
- Lines of Credits
- Merchant Cash Advance
- Other types of loans, that are not secured by the property
Top Cities in California Where You Can Find Debt Settlement
- Anaheim Debt Settlement
- Bakersfield Debt Settlement
- Fresno Debt Settlement
- Los Angeles Debt Settlement
- Long Beach Debt Settlement
- Oakland Debt Settlement
- San Diego Debt Settlement
- San Jose Debt Settlement
- San Francisco Debt Settlement
- Sacramento Debt Settlement
- Stockton Debt Settlement
In addition to the above-mentioned cities, we serve all cities and residents in California.
What Are The Different Options You Have For Debt Relief In California?
Before giving your commitment to any option, it is always recommended to check all the available options for you. These are some of the options that you may have
- Do Nothing, Just Make Regular Minimum Payments
The first option you have is to make regular minimum payments.
This may seem like a nice tactic, but creditors will raise interest rates and the debt snowball will become even greater. Even a slight rise in interest rates make your debt relief significantly harder!
So, while it may seem plausible in the moment – this option is not great for you long-term.
- Balance Transfer In California
This sounds like a great idea, on paper. Transfer the balance from one credit card to another. Voila, you’re in the clear…right? Well if it’s too good to be true, it’s probably too good to be true!
The main issue is that the interest rate on the new card will only be low for a few months. Once the credit agencies understand the balance was transferred, the rate for card #2 will skyrocket and be even worse than on card #1.
Plus, with newer loans, you have to be consistent with payments, otherwise, a credit card company may look at it as fraud. So, balance transfers aren’t helpful to many people.
- California Hardship Program For Credit Card Payment
If you are suffering from hardship, the credit card company may give you a bit of relaxation.
You will get permission to submit lower monthly payments. However, the interest that is accumulated usually exceeds the original payment.
This will take you into even deeper debt that will make it more difficult to pay off.
Once again, This is not a great option if saving is what you are looking for.
- California Non-Profit Credit Counseling Or Debt Management Program (DMP)
Many years ago, DMP was established as a result of partnerships between a non-profit organization and credit card companies.
In exchange for a monthly fee to a non-profit organization, the credit issuer will lower your interest rate to 0%.
Presently the concessions have been reduced and monthly fees have increased along with the interest rates. Though there is a benefit to only paying a single bill, it is often more expensive than alternative options.
However, the interest rates will be pretty similar, even higher in some cases. Also, you will be paying a 60 to 80 dollars monthly fee to a non-profit organization.
Thus, you have to pay a higher monthly fee along with a higher interest rate. Furthermore, with higher costs, your debt issues will not be resolved. Hence, it is not the best option.
- California Unsecured Debt Consolidation Loan
Keeping track of bills and their due date is a headache. One day it’s the last date to pay your credit card bill and the other day you are running late on your loan installment.
Despite your best efforts, should you miss a single payment, the interest rate fluctuations on unsecured debt are enough to crush your peace of mind.
How convenient would it be to pay just one bill and that too at a lower interest rate? In that case, Debt Consolidation can work perfectly fine for you.
In short, debt consolidation is the process of taking out one loan to pay off several separate loans. Consolidating debt is a good idea when you have several debts that are out of control.
You can get a lower interest rate initially and eliminate the hassle of paying multiple bills each month. However, debt consolidation comes with a lot of disadvantages.
Chiefly, debt Consolidation companies usually do not care about your hardships. They are aggressive in their approach and charge a fee to take out the loan.
However, with conditions written in fine print, they are entitled to increase interest rates. Soon your debt ‘solution’ is now an additional headache.
Now, you have to keep a regular and smooth payment history. Otherwise, it will look like a fraud to the lender.
- California Secured Debt Consolidation Loan
Generally speaking – this option has its pros and cons!
It’s like investing, when done correctly – it can be very beneficial. But when gone wrong, things can get really concerning.
This option allows you to use equity to take out a consolidation loan. Equity (typically in the form of your home) then leads to a loan which can be used to pay out other unsecured debts. This can be a risky option as you have a high chance of losing your property.
If you are unable to make regular payments, the lender can technically close on your property.
However, if this is done with professional help like CuraDebt, you can get some room to breathe. With the lowest interest rates and highest savings, CuraDebt will come to your rescue.
- Credit Counseling
Undeniably credit counseling may seem like a good idea from the start. When offered by professional counselors, it can be a valuable service if you’re having trouble managing your debt.
Basically, think about credit counseling like a personal trainer. While you may be helped by a trainer, there are many low-hanging fruits that may be a better investment (i.e. healthy eating, gym membership, etc.). Further, one thing many forget about is the cost of a counseling session!
When figuring out your debt, adding one more expense is cause for concern.
So to get the best solution to your debt woes, you need to ensure the professional is affordable and aligned with more than simply making money.
Typically, the last resort for any person in California is declaring bankruptcy. If your income is less than the median income of your state, Chapter 7 bankruptcy will be applicable.
When your income is more than the median income of your state, but you still can not manage to pay back the debt, Chapter 13 bankruptcy will be applicable.
If your business is unable to repay its debt and is on the verge of insolvency, It will fall under Chapter 11 bankruptcy.
Generally, bankruptcy is catastrophic to your future opportunities, access to loans, and personal banking. It is the option of last resort for a reason.
Likely, you will have to answer questions about bankruptcy thousands of times in your life. Above all, it affects your ability to get a loan for at least 20 years.
So, before filing for bankruptcy, talk with our counselors to see if there are any better options than bankruptcy for you.
- Merchant Cash Advance (MCA)
A Merchant Cash Advance loan is a loan for actively running businesses that need extra cash to cover various business activities.
If you need some extra cash to run the business, but your payments are stuck for any reason, you can take an MCA loan.
Generally, an MCA loan secures the loan against business receivables. If the business is unable to repay the loan due to any hardship, the lender can collect receivables to recover the loan amount.
While there are benefits to MCA loans, the biggest drawback of MCA is that without receivables, your business might suffer. If cash deficiency prolongs, you might run out of business. Hence, it may not be the best choice for your business.
Debt is a double-edged sword. If it is not handled mindfully, it is going to backfire. That is why a professional company like CuraDebt is necessary for the Debt Relief Program. Learn more about it here.
Debt Relief California FAQs
How long can a lender go after you to collect debt in California?
For most types of debt in California including mortgages and credit card debt, the statute of limitation is 4 years.
Presently, the statute of limitation for loans taken out through oral contract is 2 years. For, state tax debt, the statute of limitation is 20 years.
Do you qualify for debt settlement in California?
If you have the ability to write a check and pay your debts in full, then you can not qualify for debt settlement. In short, it is not a get-out of paying your debts program.
Rather, this is a program for people facing hardships like loss of income or unexpected expenses.
Even after paying minimum payments regularly, you realize you are going nowhere except under the debt that is impossible for you to pay.
To see if you qualify, speak with a counselor at CuraDebt. They will make an estimate of your cashflows to see if you qualify for this program. They will get you a free estimate of your savings on the debt relief program.
CuraDebt will work for you and make your debt settlement extremely cost-effective. With CuraDebt, you will be debt-free in 3 to 4 years instead of 10 to 20 years, if you remain committed to the program.
How Much Will It Cost?
There are many types of debt relief programs available in California, each with different terms and conditions.
Some programs provide immediate help while others require that you wait until their payment plan begins before getting any money back in return for paying off your debts faster than normal.
CuraDebt’s fees are guaranteed to be the lowest in the industry which can beat the competitor’s offer too. The CuraDebt Debt Relief Program does not require an upfront fee.
What Makes us One of the Best Debt Settlement Companies in California:
- We’ve settled millions of dollars in debt.
- CuraDebt is one of the oldest and most experienced companies in the US for Debt Relief.
- IAPDA and BSI certified.
- We provide free saving estimates and devise a plan specifically modeled toward your needs.
- No hidden charges. Honesty and integrity are what we stand for.
- A consistent 5-star rating on Customer Lobby with over 1000+ reviews indicates nothing else but quality work for our clients.
- With a 4.9 star average on Shopper approved, CuraDebt is the most trusted brand in America.
- 1000+ Google reviews with an average of 4.9-star ratings, our customers can’t help but rave about the wonders we do.
- Our success rate is high because Client satisfaction and Happiness are our main mission.
- CuraDebt is a Good Standing Member of the Online Business Bureau, American Fair Credit Council, US Chamber of Commerce, and AFCC.
- Getting our clients the best possible settlement with creditors is something we know how to do.
- We help settle debts quickly. We’re incredibly efficient and cost-effective as well. Our top-notch customer service ensures to address any queries or concerns our clients may have.
With CuraDebt, you are in the right hands. With a five-star rating and no complaints, we are confident to beat any competitor’s offer. We are more resourceful than any competitor on the market.
Get rid of your high-interest-rate debt and create a debt-free future with us.
Call 877-850-3328 for a free consultation now!