Understanding Debt Settlement
Debt Settlement is the process of having all or a portion of the debt that is owed to a creditor forgiven. Debt settlement services include the negotiation of a payment plan to repay a debt. For some people, the primary objective of this process is to settle their debts or reduce the number of interest payments required to pay off a debt.
We can help you with negotiating and resolving debts, including unsecured debt like credit card debt and medical bills, for a lower sum of your monthly payments than the total amount owed. Consumers may find that filing bankruptcy is not an option or a desired one in some situations and that the aid of a competent debt settlement and bankruptcy attorney in Portland may result in considerable savings when debts are settled. Debt settlement may be the best choice for you depending on your specific circumstances, but the only way to know for sure is to consult with a debt settlement attorney. At Michael D. O’Brian attorneys, debt relief is on its way.
Do you need a debt lawyer?
A reputable debt lawyer is someone who has the expertise, qualifications, and experience to assist customers who are overwhelmed with battling debt in navigating their financial difficulties. Consumer law, the part of law committed to defending consumers from unfair commerce and credit practices, includes the profession of representing clients in claims against debt collectors. Debt lawyers negotiate settlements with creditors, defend clients against litigation brought by credit card companies and other lenders, and when a client’s financial situation has become untenable, file for bankruptcy on their behalf.
This is due, in part, to the fact that household debt in the United States has increased by 11% over the last decade to an average of $134,643, including mortgages, and that credit card and vehicle loan debt has surpassed the $1 trillion mark. Because there is so much money due, debt collection agencies are becoming more aggressive in their efforts to collect it. As reported by the Consumer Financial Protection Bureau, more than 6,000 debt collection firms are operating in the United States, with a combined income of more than $12.2 billion in 2016.
According to the Consumer Financial Protection Bureau, 70 million customers were called by debt collection agencies in 2016, with around 17.5 million of them feeling intimidated by the call. Those individuals are seeking the assistance of debt attorneys to fight back against aggressive debt collectors in court. If a debt collector is persistent in attempting to recover the money that you owe, a debt lawyer can assist you in understanding your rights and navigating the legal system to avoid harassment or unlawful techniques.
A lawsuit for debt collection might be frustrating, but just ignoring the complaint and waiting for time to pass will only make the situation worse! Ignoring the case may result in a bank and/or wage garnishments, debt collection depositions, and judgment liens on one’s personal property and other consequences. It could be extremely stressful.
It is possible that defending a complaint would be a much better choice. There are a variety of reasons why debt defense may be an appropriate choice for you. Although the fact that the debtor simply cannot afford to pay the debt is not a legitimate justification, you may still stand to gain from the defense by negotiating a reasonable payment plan with the debtor.
Some of the most typical defenses to debt collection litigation are as follows:
- Theft of your identity has been committed against you. You must provide facts and evidence.
- When you signed the credit agreement, you were under the legal age in your state.
- The debt is not subject to the statute of limitations that applies.
- You made your payment on the credit, but the creditor had you pay even more.
- The creditor does not have any evidence of the debt or a formal agreement confirming it.
- The creditor is pressuring the debtor to pay more than the amount that had been previously agreed upon.
- The creditor is pressuring the debtor to pay unnecessarily high extra fees that were not included in the original agreement.
- The plaintiff lacks legal jurisdiction to collect on the debt.
- It seems that the creditor is harassing or blackmailing the debtor.
Is it Possible for a Debt Lawyer to Assist Me in My Court Case?
Having a debt lawyer on your side when you have a debt problem may be highly beneficial if your financial issue forces you to go to court. Debt collectors can take customers to court to recover money due and win the majority of the time since the consumer never attends court or sends a representative to represent them.
Individuals who appear in court without legal assistance are doing themselves a disservice, and they should know better. They often do not understand their legal rights in these situations. As a result, they are unable to adequately defend themselves.
An experienced debt lawyer will ensure that a consumer engaged in a court fight with a debt collector is treated with greater respect within the courtroom and that they have someone on their side who knows what they are doing in court. An experienced debt lawyer can provide strong arguments to a court in their client’s favor.
In addition, a debt lawyer can decide swiftly whether or not debt collectors are using unlawful ways to collect money from debtors. When dealing with debt collectors, this is particularly beneficial if you have suffered harassment or threats. A debt lawyer will assist you in preparing a case against a debt collector who has violated the law in a variety of ways, including making unlawful contact and making false or threatening comments.
Get the best lawyers for your debt settlement in Oregon
Have money problems? Are you looking to get help with debt without filing bankruptcy? Have you tried other methods but are still not satisfied? Are you tired of struggling to get out of debt? At Michael D. O’Brien & Associates, P.C.s, we offer fast and affordable debt settlement services. Contact us today to get started.
Find a qualified debt settlement attorney in Oregon who can negotiate with creditors. Get your free consultation today. You do not have to spend thousands of dollars or wait years to get results. We will help you become debt-free, and put you on the road to financial freedom.
Get a fresh start and a better financial future. We serve clients not just in Portland, but also in Tigard, Beaverton, Hillsboro, Lake Oswego, Sherwood, West Linn, Oregon City, Gladstone, Milwaukie, Clackamas, and Gresham. Call our law firm now to get the best results!