Can Debt Settlement Stop Debt Collectors from Harassing You?

Using a debt lawyer to help you reach a debt settlement could save you thousands of dollars, and relieve you of the intense stress and anxiety that comes with a debt crisis.

Do you want to stop debt collectors from harassing and threatening you? If your debt crisis is not large enough to file bankruptcy, which is not always the best option, then you want to look into reaching a debt settlement. This process is far less exhausting and damaging to your credit rating than filing bankruptcy, and it is a better option than simply ignoring the credit collectors.

First, you can simply contact your creditors yourself, and try to negotiate a payment arrangement, and find a compromise in the debt total. You can also consolidate your debt, reducing the number of credit card accounts, or liens you may have on property and equipment. And if you do not want to navigate the laws on your own, then finding a debt settlement lawyer is an excellent idea.

A debt settlement lawyer can help you find the right debt management programs for your situation. They can also help connect you with the right debt management agency that can act as a mediator between you and your creditors. The process is simple. The agency requests that you stop making monthly payments on all your accounts. Rather than sending in monthly payments, you deposit an agreed amount into an escrow account. Once escrow is funded, the debt settlement lawyer negotiates with the creditors to dramatically reduce the total balances. In many cases the consumer can see a 20% to 50% reduction in the amount owed. The lawyer can also negotiate a manageable payment schedule that you will be able to consistently make.

If you were to attempt to negotiate yourself, the process could last as long as a year. Generally, debt settlement lawyers reach agreements within a 3-month window. You walk away saving thousands of dollars, and save yourself the time and the stress of having to negotiate yourself. Plus a debt lawyer stops debt collectors’ communication with you.

A debt settlement lawyer also can help advise you on your federal and state consumer rights. If you have been threatened or endure abusive treatment from debt collectors, then you must learn how to stop them from conducting illegal tactics designed to scare you. This action, alone, will help your situation by eliminating the fear and intimidation of being pursued by aggressive collectors.

The individual counsel from a debt settlement lawyer may better suit your specific case. Debt collection lawyers can help with more than just interpreting debt collection laws. They can help with debt management, creating budgets, and can negotiate advantageous payment plans that fit within your budget.

The total amount and the nature of your debt may be too small for a bankruptcy. And if not, a bankruptcy may be too expensive or time consuming for you. A debt settlement can drastically reduce your total debt, and not have the longer-lasting negative effects on your credit rating. Once the negotiated debt amount is paid in full, through scheduled payments, then your credit begins to recover immediately. In some cases the process of reaching a debt settlement is much more affordable than filing chapter 13 bankruptcy.

Getting good debt settlement advice empowers your decision making process. Find out what protections state and federal debt collection laws offer. Did you know that you can request a written notice and a complete, detailed invoice of the debt in question from the collector before they can make an additional phone call? Debt collectors are also restricted from calling at all hours of the day and night. And they are restricted from making false or illegal threats towards wage garnishment and property seizure. You do not need to endure the humiliation of threatening phone calls, and false claims to your wages: you can stop debt collectors and their abusive behavior.

You can find a solution to your debt crisis. It’s good to start with a firm monthly budget, and to settle your credit cards, and other credit accounts. If you are buried under payments, or simply cannot make any payments at all, then finding the help of a debt settlement lawyer will save you money; because they will be able to negotiate for a dramatically reduced amount of debt. You will be held responsible for being able to meet a strict, but much more affordable monthly payment, and will be able to eliminate the burden of the debt that has you captive today.

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