Debt settlement is a means by which many people seek to get out of debt. In this process, the amount paid off is agreed upon by the debtor and the creditor. It is usually between 25% and 50% lower than the original debt owed. This can not be done with debts such as student loans or child support. It is not considered the best option by many because it can be more damaging to your credit score than other options. However, it does work well for some individuals who are in debt and having trouble paying everything off. A Debt Settlement Lawyer in Dayton Ohio can help you decide if it is the right move for you.
There are a few things you need to be aware of when considering debt settlement. One thing is that many people have been cheated by companies that were not legitimate companies or not licensed to conduct business in the state where the debt settlement occurred. In those cases, people lost the money they were paying to fraudulent companies in good faith and they were still in debt. You need to be sure that the company or attorney you choose for this option is legitimate. A Debt Settlement Lawyer in Dayton Ohio should have a local office that you can visit and someone you can speak to personally. You need to make sure that the person handling your settlement is available to you so you can ask questions. You will need to ask about the process and the affects it will have on your credit score. You want to know as much information as possible to make sure it is the right choice for you.
Know that you can begin the debt settlement process yourself and work with creditors on your own behalf if you wish. You may be more successful if you seek out a Debt Settlement Lawyer in Dayton Ohio because a lawyer can take legal steps to stop creditors from harassing you. They also will have more experience at it than you have and they are not stressed over the burden of the debt. A law office, such as Thompson & DeVeny Co. LPA, can negotiate on your behalf and not be pressured by the tactics of some creditors. It is your financial future, so choose wisely. Get in touch with us for to Know More.
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