Are you facing more credit card, medical, business or personal debt than you can handle? Are your debts increasing every month due to late fees and higher percentages? Are creditors, bill collectors or debt collectors harassing you – or worse, calling people you know? Are your wages being garnished, or your bank accounts being levied or attached? Are you looking for a realistic way to settle debt, that doesn’t include filing bankruptcy?
Debt Settlement: Is It The Debt Help You Need?
There are many reasons that can cause even the most financially responsible person among us to get into overwhelming debt, including loss of a job or a salary reduction, divorce or medical bills. If you are one of the many Americans struggling with ever-increasing bills, or worse, collection letters, calls or lawsuits despite your best efforts to pay your debts, you might be considering filing for protection under the federal bankruptcy laws. While most people are aware of bankruptcy and the stigma attached to it, fewer are aware that there is an alternative form of debt relief: debt settlement.
How Does Debt Settlement Bring You Debt Relief?
Debt settlement is a legal process of debt reduction in which the creditor and debtor agree on a reduced balance that, once settled, will be regarded as settlement in full.
When a debtor is unable to make the minimum monthly payments on an unsecured debt such as credit card debt or medical bills, balances continue to grow due to ongoing interest and late fees. In order to stop this cycle of ever-increasing debt, negotiations between the debtor and the creditor can result in a reduced balance that the debtor can realistically pay off with regular payments.
Debt settlements can lower consumers debt balances dramatically and save debtors from the stigma of bankruptcy. The creditor, who risks losing all monies owed if bankruptcy is filed, still regains part of the debt.
Settling Debt can truly be a winning solution all around by avoiding bankruptcy, stopping creditor harassment, satisfying your debts and saving money!
Debt Settlement Attorneys – Do You Need A Debt Help Lawyer?
While “do it yourself” debt settlement is an option, you may only achieve small savings, and with lots of effort on your part.
To significantly reduce your debt often requires the experience and negotiating savvy of debt settlement Attorneys for Consumers with years of experience in the debt and credit industry. And retaining a debt help lawyer will save you the headaches and hassle of doing it yourself.
Knowledgeable and skilled debt settlement attorneys are also better qualified to review your financial situation and determine a negotiation strategy which is right for you, including prioritizing secured, unsecured and high-probability litigation debts. Once you retain the services of a Debt Settlement Lawyer, you will be presented a number of debt settlement options before deciding which is best for you. Once you commit to a debt settlement program, your Debt Help Lawyers will assist you in building up a fund while negotiating with your creditors to lower your debt. And an affordable monthly payment plan can be set up based upon what you are able to contribute each month into your settlement account. Fair Debt Attorneys can determine how many months you will be part of the program and thus how quickly you can ultimately be debt free.
Because these debt negotiations can take a while and creditors can be aggressive in their billing and collection methods, a Debt Help Law Firm can – if necessary – defend you in any debt collection lawsuits and enforce the provisions of the Fair Debt Collection Practices Act to ensure your rights.
A Debt Settlement Attorney can also more aggressively negotiate with your creditors to reduce the amount of unsecured debt you owe. Importantly, throughout the program, your Debt Settlement Lawyer will communicate with your creditors, on your behalf, and you will no longer be dealing with burdensome phone calls and letters from your creditors. Debt Help Lawyers offer these services at low rates and unlike most debt settlement companies, all efforts are supervised by licensed attorneys.
Once an agreement has been reached, you will start paying off your debt in monthly installments until your debt is paid off in full. Once this is accomplished, your attorney can assist you in making sure your financial well being is back on track.After that, a long-term plan can be made to resolve your situation.
Reduce your stress by letting Debt Help Lawyers handle debt negotiations with your creditors for you. With the help of professionals with years of experience in the debt and credit industry, you can start paying off your debt with a realistic plan that you can handle.
Debt Settlement – Start Getting Out Of Debt Today
If you are faced by overwhelming debt, the most important thing to do is take action. Ignoring the situation will only result in higher late fees and interest rates, increasing your overall debt. Your most immediate solution is debt settlement. You can do this yourself or you can retain Attorneys For Consumers to handle your debt negotiations for you. If you choose to do it yourself, remember to remain calm and focused. It is imperative that you learn about your rights. This website offers a number of informative articles that can help you. Also, the Federal Trade Commission distributes informational brochures for consumers. And remember to keep records of every communication you have with the creditors for later reference.