If you need someone to help you negotiate with your creditor, you may get in touch with a debt settlement company. They will speak on your behalf and work on the plan, which best fits, your requirements. Many a time, it has been observed that these companies don’t give you the desired results and your debt remains the same. In such a scenario, it is suggested to contact a good law firm such as Zero Debt Law Firm. They can sue these debt settlement companies and get you justice.
How does a debt settlement company work?
A debt settlement company talks to the creditor on your behalf and ensures that your amount is reduced. However, some of them claim that they will get it reduced from dollars to pennies. Such companies may not be trustworthy. Therefore, you need to be extra cautious when dealing with them. Moreover, they may ask you to stop paying money to creditors because they will not agree to a settlement unless they don’t get monthly payments.
These companies will ask you to pay them to give you services. In reality, they don’t help you in any manner. Your amount with the creditor will stand as it is and even late fees and penalties get accumulated. Therefore, you must think twice if you want to hire one of these companies.
A debt settlement company holds your account or asks you to open an account with them in which you save money, and which the company claims that it will try to negotiate with your creditor. The company pays this amount to your creditor as agreed. However, they may not pay them if they want to scam you. Instead, they get hold of your money without paying anything to the lender.
Hiring a debt settlement lawyer
In all possible cases, hiring a debt settlement lawyer will be your best bet. He will ensure that your money stays with you while he is negotiating with your creditors. Some of the benefits of hiring him are:
Assessing the best option– He can review your financial condition including your debts and income sources. Based on this information, he can give you the best option to get rid of your debt.
Represent you legally– If the creditor has filed a lawsuit, he can represent you and your financial condition in the most convincing manner.
It is suggested to compare a few lawyers before hiring the best one so that you can live a stress-free life.