Why Hire A Debt Settlement Attorney

If you are struggling under a massive burden of consumer credit debt, you owe it to yourself and family to consult a debt settlement attorney. I’m sure you have seen the many “debt help” television ads claiming easy credit escape through their services. But, before you call one of these debt settlement companies, ask yourself one question. How do they pay for all of those ads? Then Google “debt settlement attorney general.” I will be very surprised if your state’s attorney general is not suing a debt settlement company for fraud.

What You Should Know About Debt Settlement Companies

The standard business model for many of these companies goes something like the following. You will be advise to stop paying your creditors, which they say will motivate a settlement. They will also require you to pay non-refundable upfront fees based on a percentage of the debt. Then you will be required to make monthly payments to them, where your money is supposed to build up enough for a lump sum settlement.

If you stop paying your creditors, your credit report will only get worse. Debt settlement is not the same as debt consolidation. The debt settlement company will deduct a maintenance fee from your monthly payment. If you are unable to continue making payments, they will stop working with you and likely keep your money. If your creditors take legal action to collect, the debt settlement company will not be able to represent you in court.

Why You Should Consider a Debt Settlement Attorney

A debt settlement attorney has invested a lot of time and money in law school and is trained obviously in the law, and in negotiating. In addition, they are licensed by their state to practice law.They are considered officer's of the court and have a sworn duty to represent the best interest of their client. In this case, you! Another great benefit over a settlement company is the fact there are various legal statutes, court rules as well as professional and ethics codes that govern their conduct. They must fully disclose their fee structure as well as their debt settlement methods. A debt settlement attorney must advise you on all aspect pertaining to the debt settlement process. This means you will hear the pros and cons of settling your debt. A lawyer will explain to you what the settlement documents mean, and advise you before signing. They can also represent you in court.

A debt settlement attorney can also legally stop the harassing phone calls from bill collectors!

One of the greatest benefits of a debt settlement attorney is they can stop the harassing phone calls from your creditors. This can help return some of your sanity and peace while you are working your way out of the situation.