Dealing with debt can be extremely difficult. From creditor calls to letters in the mail to the general feeling that everyone seems to want a piece of you, the idea of being perpetually followed by debt can be upsetting and stressful. In fact, debt issues can end up taking a toll on your day to day quality of life, causing you to feel like there’s a permanent gray cloud of anxiety looming overhead, just waiting to attack even more.
If an unhealthy accumulation of debt has been getting you down, then it’s time to stop the madness and instead focus on a solution in the form of a settlement agreement. The fact of the matter is that many of your creditors might be willing to settle your debt at a fraction of its value in order to bring the affair to a close. Even if your creditors are unwilling to settle for anything less than the full amounts they are owed, some might agree to work out repayment plans that will allow you to make good on your debts, but in a less burdensome manner.
If the idea of debt settlement sounds like a good one, then you’ll want to hire the right attorney to make it happen. Of course, you might be thinking of tackling your debt issues on your own, but in reality, that would not be the wisest move. Darren Hojnacki of the firm Hojnacki & Hojnacki, LLC is an attorney who has been practicing bankruptcy law for three years, and he thinks that debt settlement matters should be left to the professionals who know how to handle them.
So what’s to stop you from trying to work things out with creditors yourself? According to Hojnacki, absolutely nothing. No law states that you must have a lawyer on your side when negotiating with creditors and reaching debt settlement agreements. However, if you’re looking to come away from the situation with as favorable a settlement as possible, then you’re best hiring an attorney to represent your interests. After all, when you think about it logically, who’s more likely to negotiate a debt settlement contract that is fair and reasonable — you, or a lawyer who actually has experience along these lines? And who’s going to be in the best position to argue when the other side doesn’t seem to want to budge — you, or an attorney who has battled his way through countless legal and financial negotiations? By hiring a lawyer for debt settlement purposes, you’ll be putting yourself in the best position to fight your way to a positive solution.
Still not convinced? In that case, consider the fact that your creditors are likely to have attorneys representing them throughout the negotiation process. If you don’t bring your own form of legal backup, then will you really end up getting a fair shot at a decent settlement agreement? Probably not. On the other hand, if you come equipped with representation, then you’ll be able to ensure that the other side ends up fighting fair. Sometimes, all it takes is the presence of a seasoned attorney to prompt a corporate lawyer to stay honest. By hiring your own debt settlement lawyer, you’ll be able to stop your creditors from taking advantage of your limited legal knowledge, and instead, come away with an agreement that works just as well for you as it does for them.
One final thing to consider is that if you decide to face your creditors’ attorneys alone, then you might end up dealing with some rather abrupt, rude individuals. After all, corporate lawyers have their own jobs to do, but at the same time, it’s all too easy to take things personally when the other side has marching orders to bully you into submission. And since debt issues can bring about lots of emotion, it’s best to have an objective person on your side who can be strong when you’d otherwise be likely to break down and give up. Remember, a debt settlement attorney is like an added layer of protection between you and the wrath of your creditors – something that could come in quite handy when the going inevitably gets rough.
There’s no question that debt settlement can be a difficult procedure to navigate. Therefore, if you’re looking to come away from the matter as financially and mentally unscathed as possible, then you’ll need a good lawyer who can fight on your behalf. After all, being in debt can truly wreak havoc on your emotional state, and you’ll only be making things worse by going through the settlement process alone.
This article is for informational purposes only. You should not rely on this article as a legal opinion on any specific facts or circumstances, and you should not act upon this information without seeking professional counsel. Publication of this article and your receipt of this article does not create an attorney-client relationship.
