Benefits of Having a Debt Settlement Lawyer

Debt Settlement Lawyer

If you’re in debt and feel like you don’t have options, you may want to talk to a debt settlement or bankruptcy attorney before you throw in the towel. Technically speaking, you don’t need a lawyer to talk to your creditors, but it can be beneficial for these reasons.

Know Your Legal Standing

Talking to creditors can be daunting when you don’t know what your options really are. You may feel as if you don’t have any power in the relationship to negotiate. When you discuss your options with a lawyer, you learn what your rights and responsibilities are. Having your debt settlement lawyer work out a plan with a creditor for repayment empowers you with knowledge and an advocate who can argue on your behalf.

Stop Distracting Calls From Creditors

When you work with a debt settlement lawyer, you can get relief from phone calls from your creditors. Your attorney can help you write letters to your creditors asking that they not call work or home. If you file for bankruptcy, creditor contact should also stop. While you should be aware of your debts, daily calls do not help you pay your bills any faster.

Find Financial Stability

Debt settlement under a lawyer’s supervision can help you find the financial stability you’ve been lacking. Your lawyer can help you get reorganized by prioritizing your debts and taking control of your spending. Using a debt settlement lawyer can help you avoid bankruptcy if you haven’t gotten too far into debt. Your debt settlement lawyer can also help you avoid wage garnishment or tax liens. Sometimes, it’s a good idea to bring in someone with experience.

You Know You’re Getting the Right Help

Debt settlement companies often make things worse. Always look for a debt settlement lawyer with a license who is ethically bound to strict standards. Debt settlement companies may hire lawyers to front their business, but those lawyers are working for the debt settlement company, not looking out for your interests. When you work with a credible debt settlement attorney, you know that their qualifications are right for the job. Your bankruptcy lawyer in Memphis, TN addresses your credit problems legally and ethically while protecting your rights.

Is a debt settlement attorney worth it? When you have a lot of unsecured debt and want to avoid bankruptcy, yes. If you want to improve your credit score, yes. Although you aren’t required to have a lawyer, when you know your rights about bankruptcy and credit protections, you have more power.

Thanks to Darrell Castle & Associates, PLLC for their insight into bankruptcy law and the benefits of having a lawyer.