If you are unable to make payments or you have creditors attempting to sue or place liens against you, it may be time to consider debt settlement. A Debt Settlement Attorney is Essential will thoroughly go over your options.
They can help you determine if this is the right option for you and they will be able to assist with all aspects of this process.
Creditors and Collection Agencies
The attorneys at Fitzgerald & Campbell, APLC can help you negotiate with your creditors and collection agencies. They will review your entire financial situation, including income, assets and debts to see what options are available to you. They will also work with you to set up a payment plan, which could involve a lump sum settlement or monthly payments.
If you are sued by a creditor, a debt settlement attorney can defend you in court and fight to get your case dismissed. They can also help you file a counterclaim against the creditor, which could get them to withdraw the lawsuit or at least admit that they don’t have proof that you owe the money.
Lastly, if you do decide to hire a debt settlement company, make sure you find out what fees they charge. Many debt settlement companies charge a percentage of your total enrolled debt or a flat fee plus monthly fees and a set-up fee.
Statute of Limitations
If you’ve been sued by a creditor, it may be a good idea to hire an attorney to help you. The attorney will negotiate on your behalf with creditors and collection agencies, resulting in reduced debt. They will also help you with legal issues that could arise during your debt settlement process, such as a statute of limitations.
Statutes of limitations are designed to protect defendants from unfair legal action after a significant amount of time has passed since the alleged offence. This is because evidence may be lost, obscured or otherwise unrecoverable, and witnesses’ memories may no longer be as sharp.
Creditors know that a debt settlement company cannot stop calls, sue collectors for violating harassment laws or file bankruptcy on behalf of their clients. This is why they often offer better settlements to debtors who have attorneys on their side. A lawyer can also fight against wage garnishment or a bank levy. They can even argue that a creditor waited too long to file for collection.
Wage Garnishment
Creditors are less likely to threaten liens, litigation or wage garnishment when debtors are represented by attorneys. The fact that the attorney will stop calls, defend a client against a lawsuit and sue collectors that violate harassment laws gives creditors reason to offer a debt settlement.
When the creditor wins a judgment against you, it will file for a writ of execution with the court that orders your employer to withhold a certain amount from your paycheck to pay the debt. Depending on the law in your state, this can be as much as 50% of your gross pay.
A debt settlement attorney will review the facts of your case and explain your best options for debt relief, which may include settling with creditors or considering bankruptcy as a last resort. They will also make sure all of the t’s are crossed and the i’s dotted. This will prevent your creditor from coming back after you in the future.
Judgments
A debt settlement attorney can help you if you have a judgment against you. A judgment allows creditors to garnish wages, levy funds from your bank account, put a lien on your property or seize personal assets. It can also impact your credit score.
Debt settlement attorneys work directly with creditors to settle unsecured debt, including credit card debt, medical debt and private student loans. They can also negotiate a repayment plan that reduces the amount you owe.
When choosing a debt settlement attorney, it is important to find one who is licensed to practice in your state and has experience handling similar cases. Ask about their background and how many clients they serve. You should also consider how large the firm is and whether they use full-time attorneys or delegate their cases to paralegals.
Do you want to get help from an experienced lawyer? Find one today.