Legal Professional?
Build Your Business

What Are The Benefits Of Hiring A Debt Settlement Lawyer



When you are knee deep in debt, you may have no idea where to turn for help. The Federal Trade Commission warns that debt settlement companies that lack legal expertise can have a long term negative impact on your credit score. These companies often lack an understanding of bankruptcy and debt collection laws that can assist in negotiations. It is important for you to hire a debt settlement lawyer who has a proven track record of being able to effectively negotiate lower payments for individuals in debt.

Stop Calls From Creditors

People in debt frequently complain about the number of phone calls that they receive from creditors in any given day. These phone calls can distract you from your work life and family life. By working with an attorney, you will learn the ways in which you can stop the phone calls from creditors. One of the ways that you stop phone calls from creditors may be filing for bankruptcy. Even if you do not file for bankruptcy, writing a letter to creditors and asking that they stop should suffice for ending their communications. Under the Fair Debt Collection Practices Act, creditors are required to stop contacting you if you request that they stop. These are the types of communications that should end when the creditors receive your letter:

  • Appearances at your front door.
  • Phone calls during the day and at night.
  • Emails and letters in the mail.

Find Financial Stability In Your Life

A debt settlement lawyer can help you achieve a new way of life. You may have never prioritized the repayment of your debts, which was one factor that led to the disarray in your financial life. A lawyer will help you organize your finances and get a hold on your priorities. You will learn how to take control of your spending and avoid spending that is unnecessary or useless in your life. He or she can also help you develop a budget that can sustain you for your income level.