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When Should You Hire A Debt Settlement Lawyer? |
By Jack Reed on July 29, 2010
.jpg.aspx?width=75&height=75) Modern life is expensive and being a little careless with your financial routine can land you deep in debt. Though you can yourself take steps to avoid falling into debt, sometimes it does not prove to be enough. If you feel that you need help to clear your massive debts, then you can consider seeking help from a debt settlement lawyer.
The best advantage that you get by hiring debt settlement lawyers is that their experience helps them to strike the best deal with your creditor.
Keep the following points in mind before you hire a debt settlement lawyer:
- You should owe a huge debt amount. It is not wise to consult a lawyer if your debt amount is manageable. Reputable lawyers usually charge high fees and sometimes your debt amount might just be less than the fees that they charge. You might end up paying more than what you would have paid, if you pay off your debt without any legal help.
- Your debt should be unsecured. A debt settlement lawyer might not be able to help you much if your debt is secured. In these cases, creditors would simply possess your property if you are unable to pay off your debts. A lawyer can help you to settle your debts only if your loan is unsecured.
You can take the help of a debt settlement attorney in the following cases:
- If you are a victim of creditor harassment. If the collection agencies are using unfair and unlawful means to collect unpaid debt, then it is the right time to call a lawyer. They might use various tactics like using abusive language or even threaten to hurt and damage personal property. Harassment by collection agencies is illegal and Fair Debt Collection Practices Act (FDCPA) laws protect the customer’s rights against unfair debt collection practices. Consumers can even consult their state attorneys regarding their rights.
- If the collection agencies record your conversation. If you come to find out that the collection agency is secretly recording your conversation, you can report this to the lawyer. Recording of telephone conversation amounts to violation of statutes and invites penalty.
- If your credit report is manipulated. Sometimes the debtors find that their credit score is manipulated by the collection agency. This is another illegal practice which can cause you to become a victim of bad debts.
Therefore, it is very important to look out for the right person who can help you to handle your debts. You just need to make sure that you keep records of everything, including the phone calls between you and the collection agency. Be sure to hire the services of a reliable and reputable debt settlement attorney to assist you in your debt problems.
Author-bio: This is a guest post by Jack Reed of monsterhols.com |