Losing sleep over debt isn’t necessary – Stop counting bills and get back to counting sheep.
In today’s economy, with the average debt in American households hovering at $54,000, and the national consumer debt sitting at $2.5 trillion, it is no wonder that many people suffer sleepless nights thinking about how far their next paycheck will spread. At McCarthy Law, we understand that unexpected life events can happen resulting in debt you were not prepared for. We are also aware that asking for help is not an easy thing to do. Nonetheless, we believe that the resolution an attorney negotiated debt settlement affords is worth any initial discomfort.
When Attorney Negotiated Debt Settlement May be the Right Option for You
The inability to pay back debt that has accrued in full is a reality for many Americans. Those who face this dilemma may feel that bankruptcy is their only option, but it’s not. Attorney negotiated debt settlement is an alternative to bankruptcy that affords similar debt relief with less severe consequences. Creditors understand that people get in debt beyond their means, and besides, it does not serve the creditors’ interest for you to file for bankruptcy. For this reason, settling debt for a reduced amount is a viable option for many debtors facing a debt they cannot handle.
Debt settlement may be the best option for you for several reasons. To begin with, debt settlement bides you time, allowing you to save money while the negotiations take place. In contrast, with a consolidation loan or debt management program, you are required to begin making payments according to a strict payment schedule right away, and you’ll incur penalty fees if you’re ever late.
Moreover, unlike the short term fix that a consolidated loan provides, with possible lower monthly payments but in the end a higher total amount paid, a debt settlement agreement can reduce the total amount paid and set you up for long term debt relief.
In addition to paying far less than the full amount, you typically avoid the severe credit score consequences of a bankruptcy filing and the related background check and other issues that come with bankruptcy.
For many in debt, losing sleep over debt is not the only interruption finances bring to your daily routine; there are also those pesky collection calls. Once you have an attorney representative, you can stop worrying each time the phone rings. The attorneys at McCarthy Law will demand that all communications from your creditors be directed to McCarthy Law, not just the negotiation down of your debt. In most instances, the debt settlement process is complete in as little as 6 months to 36 months maximum.
Unfortunately, because creditors have multiple debtors to deal with, they can afford to hire a staff of attorneys ready to pursue legal action, if need be. Unlike settlements attempted by other debt settlement companies, McCarthy negotiated settlements are handled by attorneys. So if you are sued by your creditor, you will be defended aggressively by a skilled lawyer while the negotiations continue. Knowing you have a trusted and experienced attorney on your side will help you rest easier.
Asking for help is not giving up – it’s taking a step in the right direction. If you’re ready to move forward with your life, give us a call today for a free consultation.