If you are struggling daily with a massive debt load, you need to ask yourself when is it time to reach out and ask for professional help? You could opt to reach out to a debt lawyer. Now I know when most people think of a lawyer they do not think of finances, or when they do they think of wills, trust funds and bankruptcy. Yet lawyers can be so much more than that when it comes to finances. A debt attorney specializes in the knowledge and skills to help people who are burdened with massive debt loads. A qualified debt lawyer can help you to sort through your debts as well as to serve as a negotiator with your creditors.
Once you have a debt attorney working for you, all collection calls will cease. Creditors will no longer harass you at work, or call friends and family. Your debt lawyer will work with you on all debt related issues such as negotiating your debts interest and principle down, and restructuring payments into more manageable sized payments. They can also defend you against creditors lawsuits, and help you to file for chapter 13 or chapter 7 protection if needed. If your finances are not as bad as you think they are, you might never need to file for bankruptcy. If you cannot pay your bills currently, a debt lawyer may very well be just the leverage you need to hurdle past these debts.
Chances are if you have a high debt load that you are being besieged with collections calls day in and day out. These days collections agencies are resorting to illegal tactics in an effort to collect more debts. These illegal practices of debt collectors are actionable in a court of law, this is where your debt attorney comes into play. Your debt lawyer will help you to understand your full rights, as well as to help fight back against illegal debt collections practices.
One thing debt lawyers excel in is navigating the complex legal system to your advantage. if you face any legal obstacles due to your debt load, it is highly likely that you will overcome these obstacles with the help of a qualified attorney. If your creditor takes you to small claims court to recover money that they lost, your lawyer will be right at your side, using the law to your advantage. In most cases consumers lose when they represent themselves and forgo legal aid. If you do not understand your rights when in court, you will often loose your case. Your lawyer can make arguments in your favor or even work out a settlement agreement that will satisfy both you and the creditor, without further damaging your credit.
If you have been harassed by debt collectors, your attorney can help you file a lawsuit against them. Debt collectors violating the law can face damages up to $1000 plus attorney fees. For example if a debt collector had made false statements, or made any threats towards you, or abusive language, you can sue the collections agency.
If you are worried about the cost of hiring a debt lawyer, you should consider the fact that these lawyers can often reduce your debt load, without the need for bankruptcy. If you do file for bankruptcy, it is best to have a seasoned lawyer by your side to ensure your rights are being upheld, and to help you navigate through the process to your full advantage. Many of these lawyers offer a initial free debt consultation. If you do hire a debt lawyer do make sure that you are provided with all the charges and fees in writing. There is nothing wrong with shopping around for a debt attorney. You should choose one based on their experience, and the rates they charge, after all your trying to get out of debt, not create new debts.
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