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What Can The Debt Settlement Lawyers Help?
Nowadays, many attorneys who practice bankruptcy law have begun to offer debt settlement services to clients who seek for other financial options. These legal consultants offer professional assistance to debtors who are struggling hard to make their payments. They help the debtors to know their rights as consumers and they negotiate with the creditors on their clients' behalf. They play in important role in ensuring the settlement process is completed legally.
What can the lawyers offer? Let's take a look at their 3 main roles.
· They help to stop collection calls
When you have appointed a lawyer to handle your debt issues, he or she will act as your representative. The lawyer is the point of contact between your creditors and you. If you feel uneasy to deal with your lenders or debt collection agencies directly, it is always a good idea to get a professional to assist you. Let your lawyer handle the whole negotiation process. According to the Fair Debt Collections Practice Act, once the lawyer is appointed and the notice has been given, the creditor or debt collector is not allowed to contact the client ...
... anymore. If the creditor continues to make non stop collection calls, the lawyer can send a Cease and Desist Communication Letter to the creditor.
· They help to reduce your outstanding balances
A debt negotiation attorney can assist you to negotiate with your creditors to lower your total outstanding balances based on your financial ability. However, you shouldn't expect your lawyer to erase your debt completely without making any payment. No matter how good your lawyer is, you are still responsible for partial payment. The lawyer is helping you to reduce your financial burden.
· They assist to develop an affordable repayment plan
Besides handling your debt issues, the lawyer also acts as a financial consultant. He or she assists to work out a realistic repayment plan for you so that you can become debt free. If you are not qualified for settlement, the lawyer can determine whether you should consider consolidating your debts or filing bankruptcy.
For more information about debt settlement solutions and debt settlement companies, visit DebtSettlementEssentials.com.
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