Do I Need A Lawyer To Settle My Debt?

Do I Need A Lawyer To Settle My Debt?

Do I Need A Lawyer To Settle My Debt?

You are at wits end. You have endured the weight of crushing debt for some time now, for whatever reason; you can longer continue the status quo and continue to make monthly payments to creditors. This is a scenario that is playing out in the lives of thousands of people across this nation as the downturn in the economy has cost many their jobs, their businesses, and worst of all their financial security. If you have tried all you can to resolve your debt on your own or with the help of a debt consolidation service and have been unsuccessful, it might be time to find a debt settlement lawyer.

Even though the negotiation process is basically the same whether you go through it yourself or get someone else to do it for you, the benefit of debt settlement lawyers is that they are usually able to get to the people inside the creditor organization who can make the settlement decisions quicker than you usually can and they also know the laws regarding what a creditor can and cannot do in collecting a debt from you. Unfortunately, even credit card companies are capable of going above and beyond what is considered within the laws when it comes to debt collection. There are a myriad of horror stories from those that have experienced these sometimes unlawful attempts to collect a debt.

A good debt settlement lawyer can often negotiate a settlement that is far below the owed balance, even sometimes pennies on the dollar. Perhaps one of the biggest benefits of having a lawyer assist with this negotiation is the stress factor. The whole process can not only be time consuming and lengthy, but more importantly very stressful. By hiring a lawyer to handle this for you, you avoid the stress altogether so that you can continue to concentrate on making the necessary income to provide for yourself and your family while settlement terms are being worked out. This does not, of course, relinquish your responsibility to understand the terms and the ramifications of what is being agreed to, but it does reduce the stress and emotion that is often involved.

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