credit card debt header graphic

Debt Settlement Attorney

A debt settlement attorney is an attorney who can negotiate, on your behalf, with one or more creditors, to lessen the balance of what you owe that creditor.

The people who most need a debt settlement attorney are those who, for whatever reason, have gotten over their head in credit card or other unsecured debts. For many people, seeking the services of a debt settlement attorney is the last step they take before deciding to throw in the towel and file for bankruptcy.

Why Creditors Agree To Settlements

Why would a creditor agree to such a deal? In the best scenarios, the creditor, while not happy with settling for only a fraction of what he is owed, will nevertheless agree to such a settlement for a couple of reasons.

1) To avoid the expense and time of taking the debtor to court.

2) To avoid the possibility of the debtor filing for bankruptcy in which the creditor risks possibly getting no money at all. In other words, the creditor figures that it is better to at least get part of what he  is owed rather than nothing.

How Do You Choose A Debt Settlement Attorney?

Even though you can find general attorneys, most of them specialize in various fields. For the best outcome in dealing with your creditors, it is best to choose a lawyer who specializes in debt settlement. Every legal field has its own set of legal quirks and laws.

You don’t want to spend the little money you have paying to educate a novice attorney in how to do debt negotiations and settlements. A general attorney may seem like a less expensive choice in the beginning, but by the time he is done making all sorts of strategic errors and legal missteps, you may find yourself deeper in a financial hole than you expect.

Look For A Licensed Debt Settlement Lawyer

Ideally you also want to look for a debt settlement attorney who is licensed. Not all states require licensing for these professionals. But in the states that do, you want to be sure that he is licensed for this type of work.

It is also a good idea to ask for references. Any attorney who has been in the business for a while should have no trouble coming up with a list of satisfied customers who he has served over the years.

Why Choose A Local Attorney?

All things being equal, choosing a local attorney is best. You can make an appointment to meet him or her personally. You want to be sure that he is actually listening to you, what you want to accomplish with your finances, and is willing to be an actual partner in helping you to resolve your financial issues.

Billing issues are also important. Each locale is different. But you can get an idea of the going rate for debt settlement services by asking around, as well as searching the local Internet directories for your town.

Credit Card Bad Credit Traps
Credit card bad credit searches will yield you quite a few hits and offers from credit card companies to sign up for their credit card. But watch out for the traps.

College Credit Cards – Learning To Handle Them
Many banks and credit card issuers offer college credit cards designed specifically for college students. Here’s how not to get taken.


credit card debt (home)

Copyright – 2009 debt settlement attorney