Debt settlement can seem intimidating, but it doesn’t have to be. If you’re considering settling your debt, it’s natural to have questions about the process, how much to offer creditors, and how to protect yourself. You might think you can do it on your own, but the truth is you need professional help. You may even ask yourself, “Should I hire an attorney for debt settlement”?

Let’s go over the pros of hiring an attorney for debt settlement and see if it’s the right fit for you and your debt.

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What Is Debt Settlement?

Legal Debt Resolution, also known as debt settlement, is a process where debt settlement agents will negotiate with your creditors to help you get out of debt as quickly and affordably as possible. Through debt settlement, they work on reducing the principal amount of your debt. It’s important to note that making minimum payments primarily covers high interest rates and does little to reduce the principal balance. This is where debt settlement can break the cycle of mounting interest.

 

Debt settlement is not just a plan or program; it is a specialized and highly effective financial strategy for eliminating debt. By negotiating directly with your creditors, they can help you achieve debt relief faster than other methods and save you more money in the process.

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Should I Hire an Attorney for Debt Settlement?

Hiring an attorney for debt settlement can be helpful, especially if you’re dealing with complex situations or legal actions. Here are some reasons why you might consider hiring an attorney:

 

  • An attorney brings essential negotiation skills to the table: Debt settlement lawyers possess expertise honed through three years of law school, years of practical experience, and a deep understanding of debt collection processes.
  • A good attorney will review all your options: They can help you decide whether debt settlement, bankruptcy, or another solution is the best course of action for your situation. In contrast, a debt settlement company is likely to focus solely on convincing you to settle your debts through them.
  • If you face a lawsuit, an attorney can defend you: They can represent you if a creditor sues you and provide specific legal advice if a creditor violates debt collection laws. Debt settlement companies are not equipped to offer these services.
  • Attorneys are bound by ethical standards to act in their clients’ best interests: Unlike debt settlement companies, attorneys must adhere to professional ethical guidelines, ensuring they act in your best interest.

While it is possible to handle debt settlement on your own, having an attorney on your side can provide peace of mind and ensure that the process goes smoothly. If you’re unsure about how to proceed or if you’re dealing with legal actions from creditors, consulting with an attorney can be a wise decision.

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So, Should I Hire An Attorney For Debt Settlement?

Debt settlement can be a positive step towards financial freedom. Whether you choose to handle it yourself or seek professional help, understanding the process and knowing your options can help you make the best decision for your financial future. Thinking of hiring an attorney for debt settlement? Don’t look any further than Gershfeld Law Group.

The Gershfeld Law Group, P.C. is a top-tier Consumer Rights Law Firm specializing in debt settlement and defending against creditor actions. We’ve helped thousands of Americans achieve financial security by eliminating their debt efficiently and saving them money in the process. Trust Gershfeld Law Group, P.C. to provide the best solutions for your debt settlement needs.