Here is when you need a debt settlement lawyer

 

                               Here is when you need a debt settlement lawyer

                       

Many of the people think that they can avoid taking big loans and thereby avoid getting in debt, but let me tell you that it is not easy at all. When it comes to taking big financial decisions like buying a property, education and even marriage, not all people have a huge amount of money and thus they have to rely on loan.  It may also happen when we are too liberal with your credit cards and end up spending more than we can pay.

So, if you unfortunately put yourself in such a position where you cannot pay the debt, you can take the help from a debt settlement attorney. Sure, there is a downside to this that you will have to pay money to the lawyer for their services and you are already running out of money, but trust me it is totally worth it if you are in a bad situation and see no way out. At least you can get rid of the debt and avoid any legal action that may taken on you the agency to whom you owe your debt.

So, here are four situations in which you need to have a debt settlement attorney by your side.

• Your debt is really huge

If you owe a huge amount of debt, which you know that is impossible to pay off and then you may need a debt settlement attorney. Here I will explain it to you. If you have a manageable amount of debt like say $ 2000 dollars. You can even negotiate with the creditor and offer to pay up $ 1000 to settle the debt, and many of the creditors of the debt may even agree to such a situation.

But on the other hand, if you have a huge amount of debt of about $ 20000, then it is a completely different story and you may need the help of a debt settlement lawyer.

• Your salary is at the risk of being garnished

The creditors of the debt just want their money back and in order to get it back, they may also come after your income, if your debt goes unpaid for a long time.  Say for example, if you are delinquent of your loan, you can be at the risk of getting your salary garnished completely. It can lead to a lot of financial troubles and thus you may need a debt settlement lawyer to intervene.

• You are being dragged to court by a creditor

Just like the customers, creditors of your debt also have legal protection and that means that in some cases, the creditors might slap you with a legal notice and drag you to the court. In such a situation, the first thing you should do is to hire a debt settlement attorney who can represent you in the court.

• You want to file for bankruptcy

If you debt has reached to such a point that you are thinking about filing for bankruptcy, then it is a good idea to hire a debt settlement lawyer that can help you avoid that fate. Filing for bankruptcy may sound all fun and easy but trust me it is not. It is expensive procedure and it is going to be in your record for 7 years, making a bad credit score for you.