Category Archives: Debt Settlement Law

Debt Settlement – Legal Way of Debt Settlement

By on

Debt settlement is a method in which the debts can be settled and one can get reductions on the original amount of debt. It is also known as debt negotiation or debt settlement. For the purposes of this article, we will refer to the method of debt settlement as a legal way of debt settlement. With this method, one can have no negative effects on the credit history.

Debt settlement has been used by millions of people from all over the world. Due to its effectiveness, many companies have developed to provide the services of debt settlement. There are two types of companies that have been working to provide the settlement services.

The first type of company is the genuine debt settlement company. These companies do not charge upfront fees for the service provided. They only charge a fixed percentage of the amount of the debt.

This type of settlement company is often found in the market. However, there are some fraudulent companies that are operating in the market. The latter have many unethical methods to get money out of people.

First, they will have you sign a contract without your knowledge and consent so that they can use all the illegal ways to convince you to sign the contract. Second, they may even use threats to get you to sign the contract. Third, the fees that you pay them are illegal because you have not agreed to pay the fees.

The next type of company that provides debt settlement is the “non-profit” company. These companies do not charge upfront fees. However, they charge a fixed percentage of the amount of the debt. Due to this reason, these companies are not allowed to operate in most of the countries.

The last type of company is the one that has a third type of business. In this type of company, they offer services to those who want to negotiate with their creditors and settle their debts. They will guide you to the companies that can provide you with a lower reduction. You will also be given information about the settlement companies.

These are just some of the reasons why debt settlement is now a legal way of debt settlement. If you still have doubts, then you can visit this website www.alabamadebtreliefhelp.com to know more about the topic.

Debt Relief Attorney Vs Credit Management Firm – Which is the Better Option For Debt Relief?

By on

If you are looking for a debt relief attorney in credit management program then you must have a huge list of options to select from. You have to make the right choice so that you can eliminate your debts and get the most out of your loans. The first thing that you need to consider is the fact that there are many debt relief programs in the market today. So it becomes important for you to know the differences between a debt relief program and a credit-management program.

These two programs are basically different. With a debt-relief program, the debtors must sign an agreement with the relief firm. They will agree to pay a certain amount to the relief firm. In this case, the relief firm will distribute the amount among the debtors.

The debtors in a credit-management program can either do this themselves or ask for help from a credit management company. The credit management company will prepare a budget of all the debtors and keep them updated on their payments. The consumers will also get one on one counseling session with the credit management agency. In addition, this process of debt relief programs are very much similar to credit counseling.

You should also know that there are debtors who can benefit from both debt relief and credit management programs. They will have to choose the most suitable option according to their needs. If you are still confused about what to do, you can always talk to a debt relief attorney.

He will be able to guide you whether a debt settlement or liability settlement companies are suitable for you. There are other methods like consolidation of debt. This is the best solution for individuals who have a lot of unsecured debt and can not repay it in full.

There are also cases when people are thinking of using a debt settlement. But this should only be done if you are sure that you are not going to go bankrupt and get bankrupted. It is because there are some illegal companies that are using these debt settlement as their main aim.

If you want to avoid this kind of situation, you can always search for the legitimate and legal firms that can help you. Debt relief attorneys are the best people to consult when you are looking for a good debt relief program.

Credit management program or debt relief attorney Vs credit management firm will be decided by the type of debt that you have. You have to decide which one is suitable for you. You can either find out the firms on the internet or can always meet a relief attorney and discuss the matter.