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Debt Settlement Lawyer Services

According to the major credit reporting bureaus, the average American household has between $5,700 and $10,000 in debt.  With these levels of debt, even financially responsible people who suffer one unforeseen event, like job loss or medical bills, can end up in a financial crisis.

As a consequence, in the past years new forms of debt help have developed.  Thousands of debtors now turn to debt help programs to settle their debt in order to start their financial future afresh.  And many of these debtors retain the services of Attorneys For Consumers to assist them. Since 2007, the number of Debt Help Lawyers throughout the United States has more than doubled.

Why Debt Settlement Lawyers ?

Debt Settlement Lawyers provide services to debtors who find themselves in overwhelming debt. A debt lawyer or debt settlement lawyer specializes in interpreting and implementing the federal and state consumer debt law regulations. Debt lawyers inform debtors about their rights as well as their obligations, and throughout the entire process, debt lawyers provide sound advice to the debtor.  A knowledgeable and experienced debt lawyer can help a debtor determine the most effective form of debt help for his specific situation.

Currently, the number one form of debt relief is debt settlement – a legal process of debt reduction in which the creditor and debtor agree on a reduced balance that, once settled, will be regarded as a payment in full.  It is used for non-secured debts like credit cards and medical bills.  Negotiations between the debtor and the creditor – usually aided by a debt lawyer or debt settlement lawyer – can result in a reduced balance that the debtor can realistically pay off.

Because the process is stressful and complicated, many debtors find the services of a debt lawyer essential.  A debt lawyer is well versed in federal and state consumer debt law while the debtor usually isn’t.  Debt settlement lawyers are experts in negotiating with the creditors to reduce the debtor’s balance as much as is feasible.  A debt settlement lawyer is accustomed to dealing with creditors and understands their strategies and concerns.  It is proven that a debt settlement lawyer often negotiates lower balances and better terms than the debtor could himself.

Debt settlement lawyers are responsible for ensuring that the debtor’s credit report doesn’t contain any incorrect or misleading items after the settlement has been fulfilled.  If necessary, the debt lawyer will have such items removed so the debtor can start rebuilding his credit after the debt has been paid in full.