Signs you need a debt settlement attorney

June 24, 2021 at 7:00 AM
Signs you need a debt settlement attorney

Debt can be a difficult thing to manage. It’s not uncommon to be in a place financially where you’re so deep in debt that all you can do to keep your head above water is go deeper into debt. This can happen when all the money you earn is going toward paying off credit cards, car payments, and other debts, then you use your credit card to put gas in your car and buy food for your family. It’s a vicious cycle that feels like it has no end. Fortunately, there’s a way to put an end to it. At DebtHelp, Inc, it’s our goal to help people settle their debt and get on the path to a stronger financial future. If you’re unsure about whether or not you need a debt settlement attorney, read our guide below for help.

You have substantial debt

If you’re having a hard time managing your debt, you can sometimes approach your creditor and negotiate down your total debt to a single payment in order to rid yourself of the debt. However, this is most commonly the case with small debts of a couple of thousand dollars. If you have upwards of $15,000 to $20,000, it’s going to be more difficult and a debt settlement attorney would be better suited for the job.

Creditors are relentlessly calling

Creditors and debt collectors can be ruthless in their efforts to try to get you to pay off your debts. They’ll try calling your home at all hours, call you at work and try to embarrass you into paying your debts, and sometimes even come to your home. While these tactics work to let you know they’re thinking about you and your debt, it often doesn’t work because you probably don’t have a way to pay them anyway. Get help from a debt settlement attorney to stop the harassment so you can settle your debts in a proper manner.

A creditor is threatening to sue you

If you don’t pay your debts after a certain amount of time, a creditor can no longer collect the debt or sue you for it. This time varies from state to state, but in Ohio, it’s eight years for written contracts, six years for oral contracts, 15 years for promissory notes, and six years for open-ended accounts. If you’re approaching the statute of limitations on your debt, it’s likely that your creditors are going to attempt to sue you in a final effort to get their money from you. A lawyer can help to fight the lawsuit.

You’re considering bankruptcy

If you’re considering filing for bankruptcy, call a debt settlement lawyer first. Your attorney can help you weigh your options and let you know if settling your debts is an option. Similar to bankruptcy, debt settlement will impact your credit, but it won’t be as severe and the effects won’t linger for quite as long. In fact, many creditors are willing to settle debts because they know that if you file for bankruptcy, they risk losing out on any money you might pay in a settlement.

Call DebtHelp, Inc

If you need help settling your debts, get a debt settlement attorney to help. Your attorney can perform negotiations for you to help get creditors and collectors off your back. At DebtHelpt, Inc, we’re here to work with you in this effort. Please don’t hesitate to give our team a call at 888-254-4516 or send a message to set up an appointment. We’re standing by and ready to help you with your debt.