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You Need a Strategy to Deal with Debt Collections & Collections Lawsuits

debt collections
  • Apr 24 2019

If you are in serious financial distress, there may be a lot of emotional issues, worry, and stress involved too, not to mention questions as you have debt collections activity swirling around you. You may have creditors and debt collections agencies calling and writing continually, becoming more aggressive about wanting their money daily. Without the income to pay them, filing for bankruptcy may seem like the only option—or you may just be hoping that your financial situation will get better soon and you can rectify any and all problems associated with money.

It is in your best interest to consult with an experienced debt protection attorneyas soon as possible, so you can avoid repercussions which could not only wreak havoc on your credit score, but also make your life much more difficult. Make no mistake, you are certainly not alone in feeling such stress! Millions of other consumers in the US are burdened with debt, much of which is related to medical billsor student loan payments. The average amount of household debt continues to rise, with most families with mortgages owing around $136,000—and over $48,000 of that is student loan debt!

Handling what you owe is one matter, but that can all go out in the window in a day, literally, if you are struck with a terrible illness, injury, or devastating family issue—which could be as common as a divorce. Being unemployed, laid off unexpectedly, or having your hours cut could bring your whole economy crashing down too. And with the cost of living continuing to rise above any raises (if there are any) at work, making it difficult to pay for even the basics sometimes, you may not be able to get ahead without a serious strategy and skilled legal advice. The best course of action is to stop the escalation of debt as quickly as possible, and this usually begins with having your attorney call your creditors.

Medical and credit card debt are the most common financial issues, and for some, filing for Chapter 7 may be the only option. Other times though, there is still plenty of time to negotiate, and you may be shocked at how low a creditor or debt collections agency is willing to go to see a debt satisfied and clear it out. You may be able to pay off your debt at a discounted sum, or even set up monthly payments again—but ones that work better for you. The key is to speak to your lawyer about a plan to clear up your financial issues and start fresh.

Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include collection lawsuits, default judgments, and more. Let us review your case and discuss what would work best for you. We are here to help! Call us today for a free consultation at (855) 709-5788 or email us at info@debtorprotectors.com.

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Posted in: Collections lawsuit, Debt Collections