World Law Direct offers resources for finding a good attorney to handle a debt settlement, according to World Law Direct. The organization provides a list of attorneys that specialize in debt settlement as well as online and phone support for frequently asked questions about this topic.Continue Reading
There is also a lot of helpful information about debt settlement on the website, notes World Law Direct. The law organization explains what debt settlement is and the circumstances under which it is helpful. Sometimes called debt negotiation, debt settlement is a process that helps a debtor come to an agreement with a creditor about paying back the amount he owes. In many cases, the creditor agrees to multiple payments or a lower payment to settle the debt.
While a consumer has the ability to create his own debt settlement with creditors, attorney involvement often provides superior results, reports World Law Direct. This is why it is helpful to choose from World Law Direct's experienced attorneys who specialize in this area of law. The lawyer communicates with the creditors to reduce the overall amount due and allow reasonable monthly payments.
Not all debts are eligible for a debt settlement, according to World Law Direct. Debts related to auto financing, mortgages and student loans are not typically eligible for this type of arrangement.Learn more about Credit & Lending