Legal Question in Credit and Debt Law in California

Nope - contrary to false radio and television advertising which indicates that you have a "right" to settle debts with credit card lenders, you do not. It is entirely voluntary on their part, and will depend entirely upon your financial situation. If you have assets and/or money in the bank available to repay the debt, they will probably not settle for less than they are owed. If, alternatively, you can demonstrate that you are not a good target for a lawsuit (in that you have no assets, income or otherwise to repay the debt), they are more likely to work with you. But again, it is all 100% voluntary until you file bankruptcy.

*Due to the limitations of the LawGuru Forums, The Gibbs Law Firm, APC's (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided is general and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence. As required by 11 U.S.C. �528, we must now disclose that, "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Assistance we provide with respect to Debt Relief may involve bankruptcy relief under the Bankruptcy Code."