If you are in debt problem, you are perhaps considering debt settlement as a type of debt relief, and likely wondering if you should start looking for debt settlement lawyers. This may lead you to question: Is it required to hire a debt settlement lawyer, or do I have any other options?
Right now, I am perhaps a slight biased, but if you will, please allow me to share with you a few of my clients? experiences once they wanted out attorneys to assist them with their debt. I?d also like to provide you with helpful info regarding the payment structure used by these attorneys.
We?ve had a lot of clients who have previously hired debt settlement lawyers due to the fact that they were misled into (falsely) believing that they will be represented in a court case if one or more of their lenders determined to sue them. Unfortunately, this was simply not true. You see, these attorneys that were hired by my clients (who later on turned to me for assistance) was not even accredited to practice law in these individuals? states; therefore, there was definitely no option that these attorneys might appear in court on behalf of my clients.
Also, given that debt negotiation attorneys is exempt from the consumer protection laws applied by the Federal Trade Commission (FTC), they can be ? and, as a matter of fact, do ? charge large up front fees to their clients. I?ve heard of several cases where these firms charged as much as 30%-35% of people?s overall debt. These large fees are absolutely ridiculous, and I am not even sure how these debt settlement lawyers sleep at night; if you are claiming to have a desire to help people with their debt, I don?t believe you?d be attempting to break them.
So, the bottom line is that I clearly do not agree that it is required to hire a debt settlement lawyer if you are going to enter a debt settlement program. It?s much better if your money is put to good use by going toward your lenders first, and to an honest, professional and ethical debt settlement company ? after they have successfully achieved satisfactory results for your lenders and you.
Luckily, you have a lot of choices available to you, and I certainly caution you to make wise decisions for your debt relief. As you might feel protected hiring a lawyer to settle your debt, it is crucial that you realize that their payment structure could not conducive to making you and your lenders a number one priority. In order to successfully complete a debt negotiation program, it?s important that both you and your lenders must be top priority to any lawyer or debt settlement company you decide to hire.
This means that you should not be required to pay up front fees, nor should you be required to pay a monthly service payment. Also, lots of of these attorneys and debt negotiation companies require their clients to open an escrow account to hold their settlement funds. While there is a few benefit to this practice, it?s not something that is totally required.
Please keep in mind that searching for debt relief can be difficult and intimidating. The final thing you need is to be railroaded and fall for a sales pitch. Keep in mind the pointers I suggested above, and conduct ample research to ensure that whatever route you choose is the best debt relief option for you. Also, when seeking the assistance of a professional, please make sure that they are BBB accredited, and that their BBB record is satisfactory. We wish you the best of luck in your efforts to resolve your debt.
If you need more information about debt negotiation attorneys head over to our site at http://www.debtnegotiationservices101.com. Also you can find tips and useful guide about how to find debt negotiation services.
Source: http://financeadded.com/debt-settlement-attorneys.html
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