Maybe you racked up a large amount of debt when you lost a job and were left unemployed for several months. Or perhaps you’re still carrying thousands of dollars in medical debt as a result of an injury or illness.
Sometimes even the most responsible, financially sound people find themselves unexpectedly in debt. But having a large chunk of debt hanging over your head can impact you on many levels. For starters, it can impact your credit score and limit your ability to get a loan. Secondly, it can wreak havoc on your brain, causing you undue stress and aggravation—especially if you find yourself constantly harassed by creditors. One option might be to take on more debt to settle with the more aggressive creditors. For example, get a car title loan from West Coast CTL.
If you’re faced with seemingly insurmountable debt, you may want to consider hiring a debt settlement lawyer. While it’s true that an attorney will cost you some money, a debt settlement lawyer can help you in a number of ways. Specifically, a lawyer can:
- Negotiate with creditors on your behalf. Your creditors want to get paid, and they may be willing to lower the amount of your debt if it means seeing some of that money from you sooner rather than later. While you can technically attempt to negotiate with your creditors on your own, you’re likely to reach a more favorable settlement if you have a skilled attorney in your corner.
- Advise you on the right course of action. Debt settlement can help you reduce the amount you owe, but it might not be the best route to pursue. Depending on your circumstances, filing bankruptcy, for example, might better serve your needs. A lawyer can evaluate your options and help you create an effective plan for getting out of debt.
- Defend you in the event of a lawsuit. Your creditors want their money, and you can’t discount the fact that they might wind up suing you to get it. If that’s the case, a lawyer can defend you against that lawsuit and work to help you achieve the most favorable outcome possible.
- Protect your rights as a debtor. You know those creditors who keep calling you at all hours of the night demanding their money? Believe it or not, there’s a good chance they’re breaking the law. According to the Fair Debt Collection Practices Act, it is unlawful for a creditor to call you late at night or early in the morning, use menacing or obscene language toward you, or make threats that you’ll go to prison for failing to pay your debts. With a lawyer in your corner, you can put an end to the harassment and make sure your rights aren’t being violated. Once you retain an attorney, you’ll also have the right to direct all communications from creditors to your lawyer directly so that you don’t have to deal with them.
If you’re tired of living with debt, it might pay to speak to a lawyer about your options. While you can always choose to go it alone, a debt settlement lawyer could spell the difference between a draining, dragged-out process and a smooth settlement from which you can quickly move on.