Alternatives to Bankruptcy

There Are Alternatives to Bankruptcy

In certain instances, a bankruptcy filing is not the appropriate solution to a consumer’s financial difficulties.  These instances can include situations where there are very few creditors, or where preservation of the client’s credit score is necessary due upcoming purchases or refinances.

Debt Settlements

Alternatives to bankruptcy include debt settlement, negotiated settlement of lawsuits, or assertion of defenses, such as the statute of limitations, in a debt collection lawsuit.  We have strong consumer protection goals.  We protect our clients from over-zealous debt collectors and credit reporting agencies.

Negotiated Settlements

Hindley & Henderson has successfully negotiated numerous settlements for clients which allow them to avoid filing bankruptcy.  This option will be explored during initial consultations so a client is provided a full set of options.

Assertion of Defences

Hindley & Henderson has also defended clients in debt collection lawsuits by asserting various defenses to those actions.   We ask the right questions and will ascertain any available defenses.

Tax Ramifications

Please be aware that debt settlement does have tax ramifications under the IRS Code.  Forgiven debt is taxable income and creditors will issue a 1099-C for cancelled debt if a settlement is reached.  Consumer bankruptcy, and the discharge of debt, is not a taxable event.  This is an important consideration many attorneys fail to recognize when advising clients.

Many Bankruptcy Alternatives – One Goal

At Hindley & Henderson Law, we help clients understand the pros and cons of bankruptcy and bankruptcy alternatives every day. Put our wealth of experience to work for you knowing that all options have been explored and the consequences of each action thoroughly explained. Our goal is to help you get relief from your debts – with or without filing for bankruptcy, and be able to move forward in life debt free.

Free Initial Consultation

Contact us to learn more about your alternatives to bankruptcy.  The Law Office of Hindley & Henderson represents clients throughout the North Bay, SF Bay Area and Silicon Valley. We have a bankruptcy law office in Santa Rosa to serve Sonoma, Marin and Napa Counties, and a bankruptcy law office in San Francisco to serve the SF Bay Area.  We also can provide services for the San Jose, San Mateo and Silicon Valley.

We have staff available Monday through Friday from 9 a.m. to 5 p.m. to assist you. We also have evening and weekend appointments and offer reasonable rates and payment plans.

Contact us today to get the fresh start you deserve.