Can I Settle Debt On My Own? Why You Should Speak with an Attorney

can i settle debt on my own?

Credit card debt, personal loan debt, auto loan debt, and mortgage debt consume millions of individuals and businesses across the United States. Debt like this can quickly add up, and before you know it, you owe thousands in interest that continues to compound month after month.  Debt settlement is a method of debt-elimination that has proven to be successful for some.  However, debt settlement may not be the best option for everyone, so each financial situation needs to be evaluated based on its own set of facts and circumstances.  Many individuals and businesses have been able to settle their debt on their own by communicating directly with their creditors or working alongside a debt settlement company.  Although some are successful, settling your debt on your own can be risky.

Be Wary of Debt Settlement Companies – Don’t Put Your Rights and Interests at Risk

Debt settlement has become somewhat of an industry today.  Companies are spending millions on advertising to consumers and businesses facing debt.  Debt settlement companies work as third parties that act as the intermediary between you and the creditor.  While debt settlement companies can help you settle debt with your creditors, they are also seeking to make a profit, and may do so at the expense of your interests.

By working with a debt settlement company, you may end up paying way more than you otherwise would with the assistance of an attorney who can ensure your rights and interests are protected. Hefty fees in addition to poor negotiation are always a risk when working with debt settlement companies.

Some companies are legitimate, but others are not. By working alongside a reputable attorney, you will have a strong advocate who will help you reach the most reasonable debt settlement possible.  Your attorney’s goal is to provide you with legal representation that furthers your interests.  Debt settlement companies do not always share the same goal of helping you get the best debt settlement possible.  Further, by speaking with an attorney, you will be informed about other debt-relief options that may fit your financial situation.

Your Attorney Knows the Rules

An additional issue that has arisen in the debt settlement industry is that debt settlement companies do not always play by the rules.  An attorney understands his or her ethical responsibilities and know that any debt settlement between you and your creditor must be in accordance with all laws.  If you pursue a debt settlement on your own and/or with the assistance of a debt settlement company, you will not know for sure whether or not your debt settlement agreement is valid.  Having an attorney handle the matter will give you peace of mind in knowing that he or she is well-versed on all laws, rules and regulations that govern your debt settlement agreement.

Contact the National Debt Settlement Attorneys of Ariano & Associates, PLLC Today

Millions of individuals and businesses from all across the United States have been able to successfully settle their debt without the assistance of attorney. However, the debt settlement process can be very confusing and will be different from one person or business to the next.  Some financial situations are easier to deal with than others.  As such, speaking with a seasoned Debt Settlement Attorney will provide you with the resources you need to make an informed decision about how you wish to eliminate your debt.  At Ariano & Associates, PLLC, our Debt Settlement Attorneys are able to help each client manage and/or eliminate debt in the most reasonable and fair way possible.  Our law firm has received a multiple positive online reviews, demonstrating our focus on providing our clients with quality legal representation and superior customer service.  If you would like to discuss your financial situation with one of our Debt Settlement Attorneys, contact Ariano & Associates, PLLC today by calling (602)-466-9631 to schedule your free consultation.