When you’re faced with a lot of debt and can’t seem to make the payments, you might start getting hounded by collection agencies. These agencies are hired by your creditors to demand payment from you. Some will be quite forceful, while others will simply keep sending notices with additional fees tacked on each time. This can be daunting, but you’re not alone. A bankruptcy attorney or debt collection attorney might be able to help. The following are some things these types of attorneys can do.
Help You Deal with Forceful Collectors
Not all debt collectors are created equal, but you can count on most of them to not have your best interest in mind. A collector is hired to get money from you, and some of them will go at you with full force. They might begin by calling you at home each day at dinner time. It might then extend to phone calls at your place of work. A debt collector might show up on your front porch or your place of employment as an intimidation tactic.
There are certain lines a debt collector cannot cross. If he or she violates those regulations, your lawyer can help you deal with it. While a collector can threaten a lawsuit, he or she cannot threaten your life or give other serious threats such as those. A lawyer will ensure your rights are withheld.
Assist You in Lowering the Debt
If you do end up going to court against a creditor, your lawyer can assist you in negotiating a fair settlement in which your debts are lowered. This isn’t always the case, but most creditors want at least some money back. They know if they demand the highest amount from you, there’s a chance you won’t be able to pay back anything when you end up in bankruptcy. Because of this, the creditors might settle on a smaller amount that is paid back sooner.
Help You Understand Legal Information and Your Rights
When you’re in the middle of a situation that is unfamiliar to you, there’s a chance you’ll get a bit confused. Debt collection comes with many new terms you may not understand. You may not know what rights you have and which you don’t have. Your lawyer can help to keep you on the right path with all the information needed to succeed.
Contacting Your Lawyer Today