How A Debt Relief Lawyer Can Help You
Posted on: 27 May 2020
Being under a mountain of debt is no way to go through life. If you're like most people, your debt is a constant nagging thought in the back of your mind. Maybe it even keeps you awake at night. Thankfully, you are not doomed to be saddled with debt for the rest of your life. Today, there are multiple options available for people to get out of debt and multiple programs and entities who can help you achieve this goal. One of the most effective ways to reduce or eliminate your debt over time would be to hire a debt relief lawyer. Here's how hiring a debt attorney can help you regain control of your life.
Stop the Non-Stop Badgering
One of the most annoying parts of being in debt is that you are likely receiving phone calls from debt collectors both day and night. Maybe you've even had someone show up in person at home or at work. Some of the ways you've been contacted might not even be legal. The Fair Debt Collection Practices Act sets out guidelines that are supposed to stop creditors from using sleazy or non-stop tactics to harass people. The Act also says that the phone calls and other contact must stop if you contact your creditors in writing. Your debt relief lawyer can write up the letters you need to stop the phone from ringing off the hook until you have a chance to start paying down some of your debts.
Negotiate Settlements
Most creditors know they might never get any money from a certain percentage of the people that owe to them. Some creditors even purchase old accounts from other creditors for pennies on the dollar and then try to turn a profit by getting you to pay at least something. These reasons are why creditors are open to negotiating or discussing settlement offers. You could for example offer to pay 50 percent of what you owe in exchange for the creditor forgiving the rest of the debt and reporting to a credit agency that you have paid in full. It can be difficult to get what you want in this regard though without a lawyer on your side. Creditors are used to talking tough and strong arming people in debt, but they know they can't get away with that with a seasoned attorney. Your debt relief lawyer may be able to get your accounts settled up for less money than you actually owe. Contact an attorney today to get started
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