Do I Need a Debt Settlement Lawyer?

When you are struggling under the weight of debt you will not be able to pay back, you may feel hopeless and you may even feel that bankruptcy is your only option. In fact, bankruptcy isn't the only way to get out from under crushing debt, and bankruptcy should be your last resort after all avenues are explored. Those who wish to avoid bankruptcy may consider going to credit counseling, or getting help from a debt settlement company, however sometimes the fees and false promises these companies make can leave people in worse financial shape than when they started. Instead, it may be a good idea for you to consider speaking to some debt settlement lawyers to see if they can help.

Hiring a Debt Settlement Lawyer

When you are already struggling under all of your bills and obligations, you may wonder whether taking on additional legal fees is really a smart move and you may think that you don't necessarily need a debt settlement lawyer. However, there are many benefits associated with hiring debt settlement lawyers that you should consider in deciding whether or not you need an attorney who specializes in debt settlement:

• Debt settlement lawyers have established, existing relationships with your creditors. This means your creditors are more likely to work with the lawyer and to talk to him or her about your options than they would be with just the average individual who calls
• Debt settlement lawyers understand all the different options for getting out of debt, from settling your debt for less to consolidating debt to restructuring or refinancing loans. They can provide you with a complete picture of all your options so you can choose the best and most cost effective ways to handle debt
• The professional code of ethics that binds lawyers mandates that debt settlement lawyers are up front and fair about fees and that these lawyers put their clients interest first. You do not get this level of protection, or really any protection at all, when dealing with credit counseling agencies or debt counselors who aren't attorneys.
• Lawyers are trained and experienced in negotiation. They can help get your creditors to agree to settle debt for less than you might be able to on your own.

Getting Help

As soon as you find yourself unable to make the bills, it is a good idea to contact a debt settlement lawyer and see what he can do for you. The earlier you contact your lawyer, the more options he can provide you with to help you deal with the debt so you can fix your finances and get on with your life.