How an attorney can help you with debt reliefPosted on September 8, 2016 by Michael Hoverson
If you’re on the brink of financial ruin, you need to take steps to alleviate your precarious position or run the risk of enduring consequences that can follow you for many years to come.
Although many people use bankruptcy as a way to resolve their financial dilemma, sometimes the option of negotiating with creditors is a viable alternative. In the Minneapolis area, many people may choose to take this on themselves. But unless you are skilled in negotiating with creditors, or understand how they work and what they are looking for, this can quickly backfire.
Instead, it makes sense to use the services of a local attorney who is skilled and experienced in debt relief strategies to negotiate with creditors on your behalf.
Negotiations most often work with credit card companies and/or the collection agencies collecting on their behalf, but knowing what to say and when to say it are keys to a successful outcome.
If you propose a settlement too early, creditors may not want to settle. If you call too late, the proposal of a settlement may actually be a red flag to creditors that could make matters worse.
An attorney will know who to contact as well. Certain departments and collection staffs at credit card companies are authorized to grant better settlements than others, and knowing who these people are and how to find them can work in your favor.
State and federal laws are also in place to protect consumers who are experiencing financial hardships, and knowing what these laws are and how to apply them is another key benefit to working with a debt relief attorney.
And finally, working with an attorney means that they can take a step back and analyze your financial situation rationally, and offer you the best possible course of action. Your judgment may be clouded because you are personally invested and are too close to the situation.
Hoverson Law Offices proudly serves the city of Minneapolis and surrounding Minnesota communities.