subject: Debt Settlement By Yourself – Is It A Risky Move? [print this page] Debt Settlement By Yourself Is It A Risky Move?
Debt can become one of the most overwhelming problems that people may have to endure.
No matter how hard they struggle, the financial tide seems to grow and pull them further under. Struggling on their own, there is little chance of escape, but by looking for help, they can find themselves on more solid financial grounds.
Aurora Lillo Editor of the "Best Debt Relief Programs" website -- http://www.BestDebtReliefPrograms.net -- pointed out;
"...Many people make the mistake of thinking that they can handle all of their bills by themselves. When engaging in debt settlement, creditors take great delight in seeing people trying to represent themselves. Most people do not know the law or what rights they have under the law. This sets the individual at an extreme disadvantage when negotiating a settlement..."
Settlement companies represent the debtor and work in their best interest. These companies consist of financial experts, lawyers, professional negotiators, and a support staff to handle the day to day issues that arise during an attempted settlement. This team can mean the difference between successful negotiation and settlement or a mistake that costs more money, destroys credit ratings, and can put the individual at risk of bankruptcy.
Individuals that are trying to self represent can quickly find themselves buried by legal motions, threats of lawsuits, harassing phone calls, and offers that do not benefit the borrower. People usually do not take the time to read over and research the legal documents and rarely do they have access to an attorney to explain their rights.
Not having a professional negotiator representing the debtor is even more damaging to debt settlement. Since the borrower is personally involved, they are often motivated by fear and can be easily manipulated by professional negotiators that work for the creditors. Having a professional debt settlement adviser can approach creditors to work out arrangements and handle all communications.
As soon as someone contacts a professional, the creditors no longer have the advantage. These settlement professionals will handle all communication and can even put a stop to harassing phone calls. The professionals handle all offers, making sure that they represent the best interest of their client, rather than that of the credit agency.
"...When someone is struggling to make ends meet and pay their bills, there is help available. Professionals are available to help people from drowning in their financial woes, by providing the services needed to settle their accounts. By using professionals, people no longer have to deal with the day to day harassment, legal documents, and intimidating negotiations. Why take the risk of doing it alone? Paying a little for professionals can save money, credit, and reputation of those in debt..." added A. Lillo.
Further Information By Visiting; http://www.BestDebtReliefPrograms.net
