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Thread: Should you choose a debt settlement company or a debt settlement lawyer?

  1. #1
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    Should you choose a debt settlement company or a debt settlement lawyer?

    Near Christmas Eve, 2012 the headlines in the ‘Americanbanker’ announced about a Florida debt settlement firm which had been taken to task for illegally charging upfront fees for services that they had never actually never rendered to their customers! A federal district court, Payday Loan Debt Solution Inc. directed the company to refund up to $100,000 to their consumers in New Mexico, Hawaii, North Carolina, Wisconsin and North Dakota. The settlement also made it clear that the company had to pay a $5,000 fine to the Consumer Financial Protection Bureau’s Civil Penalty Fund, which was seen as a part of the “CFPB’s comprehensive effort to prevent consumer harm in the debt-relief industry,”
    In recent times the American economy already reeling with diverse complications has seen a rise in fraud practices as far as debt settlement is concerned. Statistics show that, about one in every 10 consumers who enroll in debt settlement plans are actually rid of the debt in the promised time frame. And all this thanks to debt settlement companies which have often swindled people who are already in debt by promising them unrealistic dreams. NACBA’s Ed Boltz said in an interview, once, “People pay $6,000 to $8,000 to these companies before they get any results, by the time they realize, they are deeper in debt, and their credit’s ruined.” Perhaps one of the major reasons why consulting a lawyer is a better option than a debt settlement company?
    Under these circumstances, where debt settlement companies acquire such a bad name, it often makes sense to look at other options for settling your debt and one such great option is to opt for a debt settlement lawyer instead of a debt settlement company.
    http://yourdebtsettlementattorney.co...ement-company/
    Shah Peerally is an attorney licensed in California practicing immigration law and debt settlement. He has featured as an expert legal ****yst for many TV networks such as NDTV, Times Now and Sitarree TV. Articles about Shah Peerally and his work have appeared on newspapers such as San Jose Mercury News, Oakland Tribune, US Fiji Times, Mauritius Le Quotidien, Movers & Shakers and other prominent international newspapers. His work has been commended by Congress women Nancy Pelosi and Barbara Lee. He has a weekly radio show on KLOK 1170AM and frequently participates in legal clinics in churches, temples and mosques.

    For updates follow us onYoutube, Radio, Facebook, Twitter and LinkedIn. Shah Peerally Law Group PC deals in immigration law - www.peerallylaw.com and www.immigrationlegalblog.com
    Attorney Shah Peerally also deals in debt settlement. For more information call us on 510.742.5887 and visit us on www.YourDebtSettlementAttorney.com.
    Information provided above is for educational purposes only. One should not act or refrain to act solely based on the information provided. You should consult an attorney to assess your case before proceeding.

  2. #2
    These are few measures which should be follow for prevent doing business to any business that claims to settle your debt when the business:

    1-Charges any fees before it settles your debts
    2-Touts a "new government plan" to bail out private credit-card debt
    3-Guarantees it can make your debt go away
    4-Tells you to stop communicating with your lenders
    5-Tells you it can stop debt collection calls and suits
    6-Guarantees your unsecured debts could be paid off

  3. #3
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    I prefer to go with debit settlement companies which are having group of lawyers to make your settlement in positive way and in favour of yours.We need to explain our details about case and they are responsible to handle these all in there way.
    Last edited by Nick H. Bass; 07-29-2013 at 02:18 AM.

  4. #4
    Hey Nick you said that you go with a debt settlement company but what about cost. If we hire a lawyer then cost of debt settlement is low that everyone want. Am I correct?

  5. #5
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    I think the best way is that you contact with a debt settlement company that will help you more in finding the solution for your problem.Because they divide your debt into small installment so that you can easily pay your debt without loss the credit ranking.

  6. #6
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    I know a better Corporate lawyer named Peter, may be it would help you and settle down your problems in very limited fees.

  7. #7
    I am totally agree with the above members we should consult with our layers before taking any step. A good lawyer can provide a better advice in this situation.

  8. #8
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    If you’re struggling to pay your debts, you may be wondering if you should hire a lawyer or a debt settlement company Or Bail Bonds Agents to help you negotiate with your creditors. In most cases, it’s best to avoid debt settlement companies altogether. And although it often makes sense to hire a bail bond in order to prevent court cases and bailing, make sure you’re hiring a legitimate law firm and not a debt settlement company masquerading as one.

  9. #9
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    If you have confidence in yourself then the best option is DIY, otherwise, go for the services of debt settlement company. Before availing their services one should ensure their legal authenticity in the market. One more important thing to keep in mind is that their fee is to paid only after the settlement of the case and if any such company is asking their fee before, then it is certainly a fraud company. Source : http://www.debtpro.co/
    Thanks
    Need Any Advice?
    Tax Attorney

  10. #10
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    Don't go for company yourself. Always try find a lawyer for yourself. He/she can easily understand your problem and solved the issue.

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