Debt Management Program
Credit card debt settlement facilitated by a team of expert consumer law attorneys is by far, the safest means to avoid bankruptcy and credit card company lawsuits.
If you have substantial credit card debt like many Americans, than credit card debt settlement facilitated by qualified debt negotiation attorneys may be a financial solution to seriously consider. The debt negotiation strategies implemented by debt negotiation attorneys will allow you to satisfy creditors for a fraction amount of money you currently owe on your debt and avoid bankruptcy. And unlike other non-attorney debt negotiation services, you receive proper legal guidance at the same time.
The debt settlement programs offered by qualified debt negotiation attorneys do more than just negotiate debt. These attorneys audit the advertising practices, contracts, billing statements, credit reporting activity, and debt collection methods of the creditors. Additionally, these attorneys specialize in FCBA, FDCPA, FCBA, and TILA laws. The expertise in these laws enables the lawyers to uncover Federal violations perpetrated by the banks and credit card companies. This gives the attorneys negotiating leverage and ensures that you can receive the best possible settlement of your debts.
Hiring a debt negotiation law firm for your debt negotiation is safe, effective and is a much better alternative to bankruptcy, debt consolidation, credit counseling and non-attorney debt reduction services. Professional debt negotiation facilitated by a Law Firm is the legal weapon that will save you thousands of dollars, cut years off your payment schedule, helps get creditors off your back, protects your rights, and gets you out of debt faster than making minimum payments on your own!
With an attorney facilitated credit card debt settlement program, you can avoid bankruptcy and get back on financial track fast by getting completely out of credit card debt in five years or less. As opposed to decades if you’re making minimum payments on your credit card bills. Did you know? If you have credit card bills that average a 14% interest rate, and if you made a $500 minimum payment on $40,000, it would take you 19.5 years to payoff. Your interest payments alone total $76,518! When this debt is finally paid off, you would have paid a total of $116,518!
Should I consider transferring my balances to a lower APR credit card? It is not recommended to transfer balances from one credit card to another. This is because it often creates a false sense of security to spend again on the old card. Additionally, you need to be very careful of introductory zero percent rates which are likely to balloon to rates higher than your previous card following a six-month period. This is a famous credit card company trick to make more money from you.
Should I refinance my home with a debt consolidation loan to pay off the credit cards? If you’re in serious debt that’s become unmanageable, you must thoroughly investigate all of your options. Keep in mind that when you refinance your home to pay off your debts, you are changing unsecured debt into secured debt. This puts your home at risk should you not be able to make the payments. Attorney debt negotiation allows you to reduce your credit card debt without risking your home.
Would Consumer Credit Counseling Program (CCCS) be a better way to go than attorney debt negotiation? No. Consumer Credit Counseling Programs have over a 79% drop out rate and clients of these services often have resort to bankruptcy. Consumer Credit Counseling Services are typically not provided by attorneys and result in the repayment of all of the original debt, in addition to interest and fees. It is also popular belief that a Credit Counseling Service will protect your credit score. False! A Credit Counseling Program will not protect your credit score. In fact, your credit score will suffer tremendously. The words "Managed by Credit Counseling Company" will appear under each account on your credit report that is involved in the Debt Management Plan. This is just as damaging to your account as a "charge-off."
How can I proactively reduce my credit card debt and not hurt my credit score? This question is probably the most asked question amongst consumers looking for credit card debt relief. However, the answer is a simple. The only way to proactively reduce credit card debt, and protect your credit score at the same time, is that you must pay your creditors on time every month. And you must pay more than the minimum payment required.
How will attorney debt negotiation affect my credit score? There is absolutely no debt reduction service available on the market that can reduce your principal debt balances that doesn’t negatively affect your credit score. Should you require maintaining an excellent credit score to maintain a security clearance or near future mortgage financing, it is recommended that continue to pay all your creditors on time every month. If you’re in financial hardship and need to reduce your principal balances, then your credit score will have to be temporarily sacrificed. It is simply a trade off in order to get out of debt.
Consumer Debt Law
Learn more about attorney debt negotiation.
| By Paul Young Published: 7/9/2008 |
Mail this post
Tags: consolidate debt, debt consolidation companies, Debt Management Program