Why You Need the Help of an Attorney to Settle Your Debts

At first glance, it seems counterintuitive to hire an attorney to help you settle your debts. After all, you’re already having a difficult time managing your finances, why will you add attorney’s fees to your expenses and blow up your debts even further?

However, eliminating your debts while trying to protect your assets at the same time is easier said than done, and may actually cost you more money if you make a single misstep. Hiring an experienced debt settlement attorney will not only help you become more informed of your options, you will also receive realistic solutions that match your financial needs.

Here are a few more reasons why you should consider hiring debt settlement lawyers in Arizona to help you get back on track with your finances.

You Will Have Legal Clout on Your Side

There are many twists and turns in the law that most people may not be able to comprehend. A debt settlement attorney will help you navigate the more complicated aspects of the law and other legal documents that may come up during the settlement. If you get sued or threatened by your creditors, your attorney can stand up for you and defend your rights. If there are any tax implications involved in the debt settlement, your attorney can give you corresponding advice.

Another reason is that once you work with a debt settlement lawyer, your creditors can no longer get in touch with you directly regarding debt collection; they will have to talk to your lawyer first. This may be rather superficial, but not having to deal with the persistent phone calls from your creditors can provide you with some much-needed relief and peace of mind.

Not Everyone Can Settle Their Debts on Their Own

There’s a lot of advice to be found in the Internet on how you can “DIY” your debt settlement. These tips may work if your loans are not yet overdue, the outstanding amounts are not particularly huge, and/or you have a dependable stream of income from where you can source your regular repayments.

However, if your situation is more serious, hiring a debt settlement attorney is the most expedient measure. Not only will your lawyer explore all possible legal options to help you clear your debts, he or she can also help you negotiate with your creditors. (If you do this on your own, you may end up with unfavorable terms.) Should your creditors violate the fair debt collections practices act, your attorneys will definitely know and you will be able to receive ample legal protection. Debt settlement attorneys can also assist you in other ways such as reviewing or constructing negotiation letters and providing free consultation sessions, at least in the first few meetings.

They See and Have the Details You Don’t

Lawyers are trained to see and interpret the fine print that many of us may gloss over or aren’t equipped to understand. With the help of a skilled debt settlement attorney, there is no risk at all of misinterpreting such details, leading to the wrong financial decision. There are also times when data mix-ups like a wrong date or an incorrect amount can get a lawsuit dismissed; a debt settlement attorney can review contracts and other documents you may have and validate your debts.

Experienced debt settlement attorneys also know their way around the law as well as in the industry. They have built relationships over the course of their careers, which help them settle their clients’ cases much more quickly and efficiently. They may also be able to refer people or direct you to resources that may help you in terms of financial management.

While the goal of debt settlement is help you get out of debt, you should also endeavor to save money while in the process. Hiring a debt settlement attorney will push you closer to these two goals by helping you find the most suitable solutions to your financial problems while avoiding accruing even more.