Legal Question in Credit and Debt Law in California

No, this is completely false and a misleading advertising gimmick. I've seen advertisements like this on Facebook. The only law that forces a creditor to accept less than full payment is the Bankruptcy Code.

Depending on your finances, you can have much or all of your credit card debt discharged in a bankruptcy proceeding. You might (or might not) be able to persuade the lender to take a lump sum settlement for less than the balance. Do not use a "debt settlement company." Try creditboards.com .

Bankruptcy is a creature of federal law; I'm not aware of any new or old California state law relating to "forgiveness" of credit card debt. It sounds like marketing hype for one of these bogus "debt settlement companies." However, the California Legislature enacts hundreds of laws every year, and it's possible that I could have missed a recently-enacted law relating to credit card debt (I did some searching and didn't find such a law). You can search California law yourself at www.leginfo.ca.gov . Let me know if you find something.

Many of my clients wish there was but unfortunately the answer is no.

I hope this helps and good luck.