A contract is usually discharged by performance of the terms of the agreement. However, the parties may agree to a different performance. This is called an accord. When the accord is performed, this is called an accord and satisfaction. The original obligation is discharged.
In order for there to be an accord and satisfaction, there must be
(1) a bona fide dispute;
(2) an agreement to settle the dispute; and
(3) the performance of the agreement.
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If you receive an unsolicited call or contact from someone offering to help you eliminate your debt, be extra cautious. There's a good chance they're a scammer.
California debt relief is usually a debt settlement program that helps people living in the state of California to negotiate and settle their unsecured debts for less than the full amount owed.
California Coerced Debt: California SB 975, for debts incurred after July 1, 2023, requires a collector to cease collection until it completes a review when the debtor provides documentation and a sworn statement that the debt was coerced. A person who coerces a debt is civilly liable.
You may settle your case at any time prior to having the court make a decision (a judgment) by either: Paying the full amount of the debt (plus any fees, costs, and interest required) Negotiating to pay a lesser amount and having the other side agree to accept that amount as full payment.
Debt Relief In California It can get you out of your financial hole relatively quickly (2-4 years), but you must stick to the program. Opting out or adding more debt to your credit card will invalidate the program, and considering one of the steps is to stop payments, you'll have to pay late fees with interest.
California's Fair Debt Settlement Practices Act prohibits debt settlement providers and payment processors from engaging in unfair, abusive, or deceptive acts or practices when providing debt settlement services or payment processing activities.
Here's the harsh truth: Using a debt reduction service actually means you'll be in debt longer. Sure, you might think it's a quick fix because it gives you some debt relief?but it's only temporary. When you sign up, you'll have lower monthly payments hitting you, but that doesn't mean much.
