subject: Debt Settlement Attorney - How to Locate an Attorney Specializing in Debt Settlement [print this page] Debt Settlement Attorney - How to Locate an Attorney Specializing in Debt Settlement
Every consumer wants to be relieved from their debts. Consumers might choose debt settlement option to get them relieved from unsecured debt. This debt relief option requires good negotiation skills, lots of paper work and sufficient amount of your time. If you opt to do all these yourself, you might get a less reduction from the total debt amount. In such situations, it is advisable to approach a debt attorney.
Consumer need to put effort in finding the best debt attorney who can significantly reduce the debt amount. Choosing the best attorney needs some homework. Internet is a good tool to choose an attorney after going through the reviews of several attorneys. Another tool can be local newspapers. Consumers can find legal advisor from the advertisements of local newspapers.
The most powerful option could be from your network of contacts who may suggest the best attorney based on their experiences or from their known-contacts who might have undergone the similar type of settlement process.
After choosing the attorney, consumer needs to discuss their problem and get the best debt settlement solution. Attorney might also educate the consumer with some bargaining tactics.
In this debt settlement process, negotiations will be carried between the consumer and creditor to finalize the settlement amount. Creditor knows that they will not get any amount if the consumer files for bankruptcy. Even consumer knows that filing bankruptcy will ruin their credit history.
Getting a bad credit score will also makes it very difficult to get a new job or a loan. Even if consumer manages to get a loan, interest rates might be very huge. Hence, in debt settlement consumer negotiates with creditor to get a maximum reduction from the total debt amount. Consumer with the help of debt attorney can manage to get reduction of up to 60%. This way both creditor and consumer get benefited by opting for debt settlement.
Hence, it is advisable to approach an attorney specializing in debt settlement from your local area to get maximum reduction from your debt.
Debt settlement is a legitimate alternative to filing bankruptcy. Consumers can expect to eliminate around 50% of their unsecured debt with the help of a legitimate settlement program. With the new FTC laws recently passed in July 2010, debt settlement is a much less risky option. If they don't settle your balance you don't have to pay a dime.
Check out the following link for free help from a certified debt relief specialist:
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