Zenith Financial Group helps people in Los Angeles understand their debt settlement options and whether settling unsecured debt fits their situation. Based in Encino, we have served the Persian-speaking community since 2015, with support in English and Persian.
What Is Debt Settlement?
Debt settlement means negotiating with a creditor to accept less than the full balance as payment in full. It is generally used for unsecured debt, such as credit cards, medical bills, and some personal loans. Creditors are not required to agree, but some accept a reduced payoff when an account is seriously behind and full repayment is unlikely.
Debt settlement is different from debt consolidation, which combines debts into one payment but still repays the full balance. Our guide on debt settlement vs. debt consolidation compares the two side by side.
How Zenith Can Help
- Review your situation: we look at your debts, income, and goals together to see whether settlement is realistic.
- Explain your options: settlement is not right for everyone, so we also talk through alternatives.
- Clear terms up front: we discuss the scope of support, fees, timing, and risks before you decide.
- Support in English and Persian: talk about a stressful subject in the language you are most comfortable with.
Our Process
- Start a conversation. Tell us about your debts, your monthly budget, and what you want to achieve.
- Understand your options. We discuss whether settlement, consolidation, or another path may fit, along with the limitations, costs, and possible next steps.
- Choose your way forward. You decide whether and how to proceed, with a clearer understanding of the process.
Risks to Understand Before You Decide
- Credit impact: accounts are often late before or during settlement, which can lower your credit score. Settled accounts and late payments can stay on your credit report for up to seven years.
- No guarantee: creditors do not have to settle, and some may pursue collection or legal action.
- Possible taxes: forgiven debt may be treated as taxable income, and creditors generally issue a Form 1099-C when $600 or more is canceled. A tax professional can explain how this applies to you.
- Fees and interest: late fees and interest can keep building until an account is settled.
If neither settlement nor consolidation seems workable, speaking with a bankruptcy attorney about your legal options may also make sense.
Who Debt Settlement May Fit
- People with credit card, medical, or other unsecured debt they cannot realistically repay in full
- Households facing a drop in income or another financial hardship
- People whose accounts are already behind or in collections
If you can still afford your payments and want a lower rate, consolidation may be a better first conversation.
Why Clients Choose Zenith
- Serving the Iranian and Persian-speaking community since 2015
- More than 8,000 cases closed
- Rated 4.6 out of 5 from 132 Google reviews (checked October 2026)
- Founder Mani Hatami wrote From Debt to Freedom and hosts weekly Persian-language radio programs on personal finance
Recommended Reading
From Debt to Freedom: A Practical Guide for Financial Rescue
A Persian-language guide to assessing your debt, setting repayment priorities, communicating with creditors, and building a budget.
Frequently Asked Questions
What kinds of debt can be settled?
Mainly unsecured debt, such as credit cards, medical bills, and some personal loans. Secured debts like mortgages and car loans, and federal student loans, usually follow different rules.
Will debt settlement hurt my credit?
Usually, yes, at least in the short term. Many people rebuild their credit afterward, but it takes time and consistent habits.
How long does debt settlement take?
It depends on how much you owe, how quickly funds are available, and how each creditor responds. No specific timeline or reduction can be guaranteed.
Can I talk to someone in Persian?
Yes. Our team speaks English and Persian.
Talk With Our Team
Want to understand your options? Contact us, call (818) 200-0000, or chat on WhatsApp. You can also read about our credit repair services.
Zenith Financial Group
15720 Ventura Blvd, Suite 612, Encino, CA 91436
Monday–Friday, 9:30 AM–6:30 PM
This page is for general information and is not legal, tax, or financial advice. Services, eligibility, fees, and outcomes vary. Discuss the scope and terms with Zenith before engaging any service. Zenith does not promise a particular debt reduction, credit score, or financial outcome.