Protect Yourself From Unscrupulous Companies
People who are overwhelmed with debt often do not know where to turn for help. Unfortunately, they often are unaware of their rights as well as the risks of signing up with a debt negotiation company. Before you take any debt relief action, you may want to speak with a bankruptcy lawyer.
At the law office of Rochelle D. Stanton Attorney at Law, we counsel people about bankruptcy and alternatives. With nearly 30 years of experience, we can determine whether bankruptcy is right for you or whether an alternative solution will work. No matter which option you are considering, you can be assured that the advice we provide is legal, knowledgeable and in your best interest. For a free consultation, please call our St. Louis area office at 314-262-4390 or contact us online.
Is Debt Negotiation a Good Idea?
The process of debt negotiation involves contacting your creditors and trying to convince them to accept less than the full amount you owe. You can attempt this yourself. However, there are countless debt negotiation companies that claim they can perform this service for you. Many of these companies are scams that will charge you hefty fees for doing little or no work on your behalf.
There are reputable organizations, often run by nonprofits or credit unions. Even if you successfully negotiate a lower amount for your debt, however, this is a temporary stopgap unless you can make a lump sum payment to pay off the debt. Usually, you will have a limited amount of time after reaching an agreement with your creditors to pay the amount in full.
If your account has been turned over to a collection agency, you may be experiencing harassing phone calls, visits and letters. These agencies have the right to collect debt, but there are laws they must follow. Filing bankruptcy stops creditor harassment. Even if you do not file bankruptcy, you can take action if a creditor is not following the Fair Debt Collection Practices Act.
To make an appointment with a Missouri debt settlement attorney, please call 314-262-4390. Your consultation is free.
