You are not alone. Virtually every single American has debt. Some simply have more than others. Debt comes from credit cards, cash advances, unpaid bills, and an assortment of loans. No matter what your reason for having debt is, you need some form of debt relief.
There are multiple options when you need help with debt. All debt relief programs have pros and cons, but you will need to pick the one that is best for you. Each case is different, depending on how much you owe, how delinquent you are, and the reason for your debt. Therefore, what is good for one person may not be ideal for another person.
After you start researching debt consolidation, settlement solutions, and different types of bankruptcies, you might need help with determining which is best for your particular situation. You can schedule a consultation with an attorney if you need help with debt.
First, you need to find an attorney that specializes in bankruptcy and other related issues. Although you may not file bankruptcy, this is the field in which you will be discussing debt; therefore, it is essential to hire the right lawyer. You do not want to consult with a lawyer who has experience in criminal charges, family law, or some other topic that does not pertain to your need for help with debt.
You will have to give your lawyer all of your contact information, including your social security number. This way, the lawyer can get your credit report. Obviously, your credit will not be perfect; it might be terrible, but the report is to not judge your score, as much as it is to see to whom you owe money. The attorney will have a list of lenders, debt collectors, and creditors. It can also detail specific dates and amounts. More importantly, your representative can now contact these companies on your behalf.
Did you know that after you hire an attorney, debt collectors can no longer call you? All of the phone calls will be re-directed to your lawyer. How many times a day does your phone ring from a 1-800 number? You will now be free of harassing phone calls! You will not have to get embarrassed when a lender calls your work, and your boss answers. Everything will be in the hands of your hired lawyer.
After learning about the businesses you owe money to, and how much, your lawyer can start negotiations. Debt settlements are a good alternative to bankruptcy. Nearly every single lender or debt collector will take a partial payment, opposed to none at all. If you file bankruptcy, they will not get anything. Your attorney can help lower your payments, or create a one-time settlement for a fraction of what you owe. You may have the option to pay up to 50% less as a one-time payment. Imagine having your debt cleared from at least one company, just like that!
If you owe cash advances or payday loans, you may get sued over the past due balances. If you are facing legal issues, you have to turn to a lawyer immediately. If your home is about to get foreclosed or your car repossessed, it is critical you seek the advice of an attorney.
When you need help with debt, you might have to pay your lawyer, which will seem stressful at first. You do not have money to pay your bills or loans, so why would you have extra to spend on an attorney? However, in the long run, it is worth it. You can achieve debt relief within a matter of months, thanks to your experienced attorney.
Debt help is not something you should be humiliated about. Nearly all Americans have some form of loans that have a balance. Student loans, house mortgages, and car payments can take years to pay off. If you need help with debt, contact a trained attorney that has experience dealing with debt and bankruptcies, today. You will at least have an idea of your options. Remember, you will have to pay money in order to erase your debt, unless you file bankruptcy. Once again, this option is not ideal for everyone. Let your lawyer explain to you what you should do when you need help with debt.