What to Ask an Attorney at a Debt Settlement Consultation
When you are interested in settling some of your debts for less than what you owe, consulting with a debt settlement attorney is one of the first thing that you'll want to do. Most attorneys offer a free consultation prior to accepting you as a debt settlement client. At a debt settlement consultation, there are a number of subject areas that you will want to cover. Some of the important questions that you should ask an attorney at your debt settlement consultation are below. How Fast Will The Settlement Occur? Although the debt settlement attorney will not be able to give you an exact answer about the specific time frame until later, he can usually offer you some general expectations in this area. The attorney will need to know how much you plan on saving or holding back for the settlement on a monthly basis. The attorney can then estimate how much the creditor may eventually settle for, and figure out how long it will take for you to save up that amount of money. This can help you know what to expect when trying to plan out the process. What Fees Do You Charge? When working with your attorney, you should also ask how much he charges for the services that he offers. Every debt settlement attorney charges a different amount. In many cases, it is based on a percentage of the total amount that is saved. This gives the attorney an incentive to save you as much money as possible on your debt. In other cases, the attorney will simply charge a flat fee for this service. What Kind of Experience Do You Have? It is also usually a good idea to find out what kind of experience the settlement attorney brings to the table. If the attorney generally works in other areas of the law, it may be a good idea to find an attorney that specializes in debt settlement. When choosing an attorney, it is essential to find somebody who knows how to negotiate with creditors. You can look at the attorney's track record to see how much he actually saves his clients. Your attorney will have a direct impact on the amount of money that you are able to cut off of your debt. Because of this, you need someone who has hands on experience in this area, and doesn't just dabble in it occasionally. Is Debt Settlement Right For Me? In most cases, a settlement attorney will be able to give you his opinion about whether you should pursue debt settlement or not. While settlement is a great option to use, it is not for everyone. In some cases, your debt may be simply too much and of an unsecured nature and cannot be settled in the traditional manner. You may not have the resources that it will take to pay off your debt in a reasonable amount of time. Your attorney will look at your financial records, can help you determine if a settlement is actually the right course of action to take. Sometimes, bankruptcy might be a better option, depending on how much debt you have, and what your income is. With this information, you can make an educated decision about how to handle your debt problems. A debt settlement attorney uses the protections found in state and federal consumer laws and extensive experience in consumer law in the credit and debt industries to offer a wide variety of affordable debt relief solutions and other consumer financial legal problems. Those with insurmountable debt should consult an attorney to see if a credit card debt settlement is a viable option for them.