Debt Settlement May Be Your Best Route
It’s a great feeling to know that your bills are accounted for, money is in savings, and a decent amount of disposable cash is available each month. Sometimes reaching that point—or getting back to it—takes effort though. And with the average American household holding onto nearly $17,000 in credit card debt today, you are certainly not alone in worrying about rising debt, or looking for ways to divest yourself of it. Many consumers are over-spending today, but just as often, credit cards are being used as a stop-gap when income has been reduced due to unemployment, illness, or other challenges.
Take Control of Your Finances As Soon As Possible!
If the bills are beginning to stack up, it’s important to get ahead of the problem before it escalates further. There are numerous options to consider, and if you are worried about finances getting out of control, this is the time to consult with a law firm like Fitzgerald & Campbell, APLC where you can meet with attorneys who are experienced in helping clients get back on their feet. While you may be thinking that filing for bankruptcy and looking forward to a discharge of your debts looks attractive right now, take time to examine other alternatives like debt settlement first.
If you still have the financial flexibility left to pay off some debts, settling them may be the most satisfactory option for you. In taking time to negotiate with creditors, you can avoid lawsuits, further damage to your credit, and save substantially in the long run. You will also have the peace of mind in knowing those debts are gone.
Get Legal Help in Negotiating Settlements
You can go it alone in attempting to settle your debts, but this is not usually recommended as you are at an enormous disadvantage upon entering the debt collector’s area of expertise. Their goal is to collect as much money as possible from you, and both negotiations and settlement agreements must be well-organized and well-documented. An experienced attorney will be able to get the best deal for you, often seeing that you pay off debts at a fraction of what the creditor originally said you owed. They will also be able to ensure that creditors follow through on their promises as agreed. Your credit may still be affected, but the consequences will not be as severe in comparison to filing for bankruptcy. Your initiative in seeking a debt settlement can also carry weight later with lenders who may be considering you for a loan.
Explore All Your Options
You may also want to discuss other alternatives with your attorney such as debt consolidation or other debt management processes. If none of these paths seem viable for your financial situation, either filing for Chapter 7 or Chapter 13 bankruptcy is an option, depending on your eligibility. If you are finding it difficult to pay your bills and need an experienced debtor rights attorney, contact us at Fitzgerald & Campbell, APLC. We can review your current situation and discuss your options with you, whether that means a negotiated settlement, bankruptcy, or more.
Our attorneys have decades of experience representing clients in all types of consumer rights matters, and we are here to help you! Call us today for a free consultation at (855) 709-5788, or email us at firstname.lastname@example.org.
Posted in: Debt Settlements