Debt Settlement Companies

Trying to get out of debt, yet it seems impossible with creditors calling at all hours of the day at home and at work harassing you? Do you feel as though you are making the effort to pay off your debt, but it keeps increasing? Have you tried a debt settlement company that promised to work with you, but took you for a ride? Even racking up medical debt due to an unforeseen sickness can cause you to become embattled with accruing debt. Money and emotional problems can affect your entire well-being, especially when trying to get out of debt and be free from creditors.

There are many debt settlement companies out there, both legitimate and not so legitimate. For most people, it can be a daunting task trying to work alone in dealing with the creditor. Even though a debtor is working with a debt settlement company, the company may in turn, work against the client. In such cases, the company usually is not forwarding payment to the creditors and thus, the client is forced to bear responsibilities for excess fees both to the initial creditor and the debt settlement company. Plus, there are fake debt settlement companies that take advantage of people by claiming their debt is in order, only to later claim that the client is in default and must pay immediately. These tactics include immediate payment by Western Union or a prepaid debit card, or even the most common unlawful practice, claiming the police are involved and will be arriving to make an arrest.

While working alone may not be the best solution to tackle these companies, it is far easier to have someone on your side to take control of dealing with the creditor, and that is hiring a lawyer who specializes in debt settlement. An attorney will work with you, the client, in all aspects of your finances and monthly salary to determine the best course of action to reduce the debt load. Having an attorney negotiate with the creditors can help alleviate the stress as the attorney will negotiate a sum payable per month in addition to other debts in relations to monthly salary. In addition to reducing the amount per month, the attorney will also negotiate a lower interest rate, and possibly eliminate late fees.

While it may seem difficult at first, an experience attorney will guide you through the negotiation process alongside what you can afford to contribute to the debt each month. The attorney will ensure that all payments are processed to each creditor so that the debtor will know that payments are being applied to the outstanding debt. In this manner, the debtor is protected from unlawful means to obtain money by scammers in the debt settlement business.