If your bills and debts are becoming overwhelming, you may be tempted by advertisements from debt-settlement companies claiming that they can talk your creditors into settling your unsecured debts for pennies on the dollar. This could be a big mistake. While debt settlement may work, debt-settlement companies are in business to make money, not to help you out. If you are not careful, you could actually worsen your situation and wind up owing more due to added fees and interest charges. It makes much more sense to speak to a debt settlement attorney in Ohio who can examine your individual circumstances. If you decide on debt settlement, your attorney can negotiate the best deal possible, but there may be other debt-relief options that make more sense. The skilled and seasoned Ohio consumer debt lawyers at Fesenmyer Cousino Weinzimmer understand that financial problems can happen to even the most well-intentioned people. We offer a free consultation to evaluate your entire financial situation – your income, your debts and your goals — and find which solutions are right for you. We offer a free consultation, so contact us online or call our offices today. How Debt Settlement WorksDebt settlement is a way to reduce your debts with unsecured creditors, such as those holding medical bills and credit card bills. These creditors may agree to a settlement if you can come up with a lump sum of 40 to 60 percent of your debt, or they may agree to a payment plan for a lesser amount than you are currently paying. Creditors do this because they prefer to settle your debt for less than you owe rather than have you file for bankruptcy, in which case they might not get anything. Getting the best debt settlement possible involves negotiating with your creditors, which an experienced Ohio consumer debt attorney can do for you. Why You Need A Debt Settlement Attorney in OhioThe settlement process is complex and involves complicated laws. Most people are not expert negotiators and rarely get the best deal from their creditors. Debt-settlement companies charge fees, and if you stop making your payments, the total amount you owe will increase due to various added fees and interest charges. They often charge a set-up fee and a contingency fee — a percentage based on the amount you save. If negotiations fail, you will owe the upfront fees in addition to still being in debt. It is in your best interest to hire an attorney to help you decide whether debt settlement is the right choice for you, and, if it is, to negotiate the best deal possible and assist you with all the steps involved. The following are some reasons why it pays to hire an debt settlement attorney in Ohio:
Is Bankruptcy a Better Option?In some situations, filing for bankruptcy can be a better option than debt settlement. Bankruptcy allows you to eliminate or restructure certain debts while under the protection of the federal bankruptcy court. Ohio has an automatic stay that prohibits most creditors from collection activity such as harassing phone calls, lawsuits, garnishments, repossessions, and foreclosures. Your attorney can explain the different types of bankruptcy and how they apply to your situation. Contact Us and Get Help from an Ohio Consumer Debt LawyerThe experienced and compassionate Ohio consumer debt lawyers at Fesenmyer Cousino Weinzimmer know what it is like to struggle with debt and will help you find the right solution. We offer a free initial consultation where we will evaluate your entire financial situation and determine whether debt settlement or another debt-relief plan is the best fit for you. We will make sure you are aware of all your options and will walk you through the process. Delaying can only make things worse, so contact us online or call for your free consultation today so we can determine what debt-relief solutions will work best for you. The post Why You Need a Debt Settlement Attorney in Ohio appeared first on FCW. via Tumblr Why You Need a Debt Settlement Attorney in Ohio
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Bankruptcy is a debt relief remedy established by federal law. Fesenmyer Cousino Weinzimmer attorneys are available to carefully discuss and review your financial situation during your free consultation. For a consultation call us at 614-228-4435. |