A credit card debt settlement is a debt settlement where the creditor agrees to a part of the sum that is due from the debtor instead of the full payment. Credit card debts can be settled by letting your lawyer negotiate with the credit card company on your behalf.
Is a legal settlement workable?
Credit card debt settlement usually works to eliminate all your credit debt that has been incurred by overspending. For this you need to approach a trustworthy lawyer who will be able to negotiate on behalf of you with the credit card company. This may not be as easy as it sounds and hence a lawyer is perhaps better suited to do the job for you. It is always advisable that you opt for a credit card debt settlement at the earliest in order to avoid harassment from credit card companies. You must also be wise and curb your spending habits once you have got over your debt.
How would you know that you should opt for a credit card debt settlement?
- You have drained out all your savings and cannot repay back the debts
- You cannot make the minimum monthly payments for your credit cards.
- You are avoiding collection calls.
- Your creditors threaten you with lawsuits
- You want to opt for a second loan to pay off your previous bills
Why you need to get legal help to settle credit card debt?
If you hire a debt settlement attorney who will help you in clearing off your credit card debt, you will probably be making the wisest move, in order to clean up your financial mess. The debt settlement attorney can help you in the following ways-
- Your debt can be reduced -A credit card debt settlement program, shows you a way of a reducing a certain part at least of your outstanding balance of debts. This makes it easier for the debtor to unload their burden.
- There are no legal hassles to be faced when a debt settlement lawyer takes over. Once you are part of a legal credit card debt settlement program, it gives a clear indication to your creditors that your intention to settle dues is eminent. Perhaps they realize that this way they can get back at least some of the money due to them. An attorney handles the credit card company on behalf of you and you are free from creditor harassment.
- You can also avoid the late fees that are levied against you when you opt for credit card debt settlement. Often these late fees and any such other penalties are part of the lump sum amount that is agreed upon by your attorney and the credit card company.
- The moment you employ a debt settlement attorney to handle your case, you can sit back and relax because all calls from the credit card company will be fended by the attorney. Moreover, the attorney contacts the credit card companies on your behalf and comes to a settlement which might not have been possible for you.
- Settling for a credit card debt settlement is a better option than declaration of bankruptcy. Bankruptcy has its own social and financial fallouts and most people want to avoid it at all costs.
At Shah Peerally Law firm, Shah Peerally who is an experienced debt settlement attorney, will guide you in the easiest way to settle your credit card debt settlement. Give us a call at 1-510-742-5887 OR email us at- firstname.lastname@example.org