Most people would rather go straight to debt settlement companies rather than hire a debt settlement lawyer. However, a lawyer can do so much more for you than a debt settlement company. The lawyer has the legal standing to stop creditors from harassing you when your debts have become due but you were unable to make payments. A lawyer knows the ins and outs of rules and regulations governing debts. He or she will be able to help you overcome the hurdles associated with restructuring your debts. The lawyer can negotiate with your creditor's lawyer, which will result to something better because both parties speak the same lingo.
Lawyers can also discuss with you the good and bad aspects of any debt settlement you have in mind. As a legal professional, he is duty bound to lay the cards on the table so you will know what the odds are against you. The lawyer will discuss with you the terms of the renegotiated contract so that you are fully aware of your obligations. He will also help you in court in the rare chance that the creditor decides to file a case rather than negotiate for a settlement.
Many people are afraid to hire lawyers because of the associated fees. Some lawyers may be expensive but at least you know what their charges are. If you got a debt settlement company, you do not know the charges that they will ask from you. The debt settlement industry is not regulated, which means that debt settlement agencies can choose not be upfront with you.