what can i say to make a lawyer help me with my debt

A lawyer in this case can do little to help you. Perhaps you have grounds for a counterclaim against the creditor. If the creditor violated legally prescribed procedures for collecting debt – say the creditor illegally harassed you – a lawyer might be able to file a counterclaim against the creditor.

Full Answer

Do I need a lawyer to settle my debt?

The debt management plan will involve lowering the interest rates on each sum of debt that you owe. The type of plan that a lawyer helps you choose will depend on the following characteristics: Your income level. Your ability to ultimately repay debts. The amount of debt that you owe. Contacting a debt settlement lawyer will help you get ...

How do debt attorneys negotiate debt repayments?

If you can no longer afford your monthly minimum payments and do not want to file for bankruptcy, debt settlement may be right for you. Debt Settlement from The Law Offices of Kenneth H Dramer, PC can help you pay off your overwhelming debt, especially if most of your debt is unsecured. Our professional debt attorneys in New York and around the U.S. will …

How can I settle my unsecured debt?

The attorney can help you figure out if you really should try to settle your debts or whether you should do something else, like file for bankruptcy, for example. A debt settlement company will probably just try to convince you to hire it to settle the debts. An …

Should I hire an attorney to handle a debt collection case?

Once a debt collection agency has that judgment, in order to aid their collection process, they can request the court fora “judgment debtor examination.”. This is a process where the creditor can interrogate you about your finances. If you do not appear at the initial hearing for which you received the summons or for the judgment debtor ...

What should you not say to a lawyer?

9 Taboo Sayings You Should Never Tell Your LawyerI forgot I had an appointment. ... I didn't bring the documents related to my case. ... I have already done some of the work for you. ... My case will be easy money for you. ... I have already spoken with 5 other lawyers. ... Other lawyers don't have my best interests at heart.More items...•Mar 17, 2021

What do you say when settling a debt?

Start by offering cents on every dollar you owe, say around 20 to 25 cents, then 50 cents on every dollar, then 75. The debt collector may still demand to collect the full amount that you owe, but in some cases they may also be willing to take a slightly lower amount that you propose. A payment plan.

How can I get all my debts written off?

Find hidden money in your budget. The only way to get out of debt without hurting your credit is to pay it off. ... Negotiate your payment plan. ... Put burden of proof on the collector — then check the statute of limitations. ... Get a discount on your debt. ... Get outside help to reach a settlement.May 4, 2017

How do you fight a debt?

If you believe you do not owe the debt or that it's not even your debt, send a written request to the debt collector and ”dispute” the debt. You can also send a written request to the debt collector to receive more information about the debt.Feb 2, 2017

How can I get a collection removed without paying?

There are 3 ways you can remove collections from your credit report without paying. 1) sending a Goodwill letter asking for forgiveness 2) disputing the collections yourself 3) working with a credit repair company like Credit Glory that can dispute it for you.Mar 29, 2022

How can I get out of debt without paying?

Ask for a raise at work or move to a higher-paying job, if you can. Get a side-hustle. Start to sell valuable things, like furniture or expensive jewelry, to cover the outstanding debt. Ask for assistance: Contact your lenders and creditors and ask about lowering your monthly payment, interest rate or both.Sep 2, 2021

Is a debt written off after 6 years?

For most debts, the time limit is 6 years since you last wrote to them or made a payment. The time limit is longer for mortgage debts.

Can I ask my creditors to write off my debt?

If you are unable to pay your debts, you should contact your creditor to let them know and see if they are willing to write off the debt.

Is it true that after 7 years your credit is clear?

Most negative information generally stays on credit reports for 7 years. Bankruptcy stays on your Equifax credit report for 7 to 10 years, depending on the bankruptcy type. Closed accounts paid as agreed stay on your Equifax credit report for up to 10 years.

What is a goodwill deletion?

The goodwill deletion request letter is based on the age-old principle that everyone makes mistakes. It is, simply put, the practice of admitting a mistake to a lender and asking them not to penalize you for it. Obviously, this usually works only with one-time, low-level items like 30-day late payments.Sep 12, 2015

How do you write a letter to dispute a debt?

You have contacted me regarding the account with the above reference number, which you claim I owe. I have no knowledge of any such debt being owed and I dispute any personal liability for this debt. This field is required. Enter any additional information that you think may be relevant to your dispute.

Can you dispute a debt after 30 days?

If you don't dispute the debt within 30 days, the debt is assumed valid. That means the debt collector can continue to contact you. You can still send a dispute after 30 days. But at that point, the debt is considered valid, and a debt collector is still legally allowed to continue contacting you.Jan 3, 2022

How Debt Settlement Companies Work

Debt settlement companies often claim that they’ll be able to talk your creditors into settling your unsecured debts for pennies on the dollar. If...

Why Hiring A Lawyer Might Be A Good Idea

If you think you need help settling your debts or are unsure about whether negotiating settlements is a good idea, a skilled attorney can provide y...

You Can Settle Your Debts on Your Own

You can arrange a debt settlement yourself. If you are certain that you want to settle your debts rather than filing bankruptcy or some other optio...

Why do you need a lawyer for debt settlement?

Most people have painstakingly acquired their assets over a long time, and losing them breaks their hearts. This is why you need a lawyer to help you navigate the delicate matter of debt settlement. Even when you are threatened with foreclosure by your lender, your lawyer will step in to ensure that you retain your house. Similarly, when the creditors seek to repossess assets such as your car, art collection, or your prized electronic gadgets, your lawyer will use legal means to protect you and ensure that you retain your property. A lawyer can also prevent assets owned by your family members from being liquidated to settle your debt .

What is debt settlement lawyer?

A debt settlement attorney assesses your financial standing, debts owed, your income, and your assets. The attorney is then able to correctly determine what you can pay. Armed with this information, the debt settlement lawyer can engage your creditors and negotiate for more favorable repayment terms.

What to do if you feel unfairly targeted?

If you feel that you are being unfairly targeted, or that the creditors have breached rules regarding your debt, you may hire a lawyer to sue on your behalf to avoid paying additional fees and penalties.

Why do people get into debt?

Sometimes people get into debt due to unpaid goods or services. If you had borrowed money to help you supply goods or services, you might get into debt if your clients fail to pay. If you exhaust all possible avenues to recover your money, you can hire a debt recovery lawyer to go after the clients.

Can creditors look for you?

With mounting debts, it is not long before creditors come looking for you. Some people may even hide to avoid the creditors and delay the debt collection process. When this happens, a creditor may forward your file to a collection agency that is tasked with looking for you and recovering the debt.

What to do if you are behind on your payments?

If you have fallen behind on your monthly payments and are seeking help – do not waste time. The longer you wait for help, the harder it will be to save yourself money and get out of debt. The first step is to call for your FREE CONSULTATION.

How do debt settlement companies work?

Many debt settlement companies and other settlement law firms want to hold your money in a trust account, escrow account, or somewhere else they will have access to or control over your money. They do this to control your funds, thus, controlling you as their client. These are the same companies that typically charge upfront fees and do not work on an incentive basis when it comes to performing and getting the best deal for their clients. Since they’re holding your money and charging you up front, they will take any deal they can get just to have one less account to negotiate. When they do a lousy job, they make it hard to get all of your money back if any at all. Usually, by the time their clients find out just how poorly arranged the settlements were, the debt settlement companies have already collected their fees, and if they are terminated, it only means one less client for them have to work on at that point.

What happens if you are too far behind on CCC payments?

In the case of CCC, the terms and payments are typically higher and extremely rigid. If a client is too far behind on payments to one of their creditors, that account may be rejected by CCC, but can still be enrolled into the Debt Settlement process.

What is debt settlement?

Debt settlement is a process that can help you if you can no longer afford your monthly minimum payments and do not want to file for bankruptcy. Debt settlements can help you pay off your overwhelming debt, especially if most of your debt is unsecured.

How long does it take to get out of debt with CCC?

With CCC it can take anywhere from 4-9 years to be out of debt because you have to pay the full amount of debt that you owe plus interest. Debt Settlement Specialists do not receive compensation from the creditors that they deal with.

What happens if you miss a payment on a debt settlement?

If you miss a payment, it can lead to your expulsion from the program.

What are the most common types of unsecured debt?

The most common types of unsecured debts are credit cards, department store cards, gas cards, medical bills, utility bills, and personal or signature loans. Since there is no asset backing the loan, should you fail to make timely payments on an unsecured debt, there is nothing for the creditor to take back.

What does a debt settlement lawyer do?

A lawyer can also represent you if a creditor files a lawsuit. Debt settlement companies can't do these things.

What is a good attorney?

A good attorney will go over all of your options. The attorney can help you figure out if you really should try to settle your debts or whether you should do something else, like file for bankruptcy, for example. A debt settlement company will probably just try to convince you to hire it to settle the debts.

How does a debt settlement company work?

Debt settlement companies often claim that they'll be able to talk your creditors into settling your unsecured debts for pennies on the dollar. If you're current on your payments, they'll tell you the creditors won't settle unless you stop making payments.

Do creditors have to accept lesser amounts?

They also probably won't tell you that your creditors don't have to accept a lesser amount than they're owed to settle the debt or that many creditors won't agree to a settlement, especially if you're working with a debt settlement company.

Do attorneys have to be licensed to settle debt?

Attorneys must be licensed and are supposed to uphold strict ethical standards. Unfortunately, not all do. Some debt settlement companies employ lawyers to act essentially as fronts (or, in some cases, attorneys might team up with a debt settlement company) to provide the company an appearance of legitimacy.

Is a debt of $600 taxable?

The IRS generally considers canceled debt of $600 or more as taxable, and settling debts for less than what's owed can increase your tax liability depending on your tax bracket and the canceled amount. Consult a tax professional for more information. Talk to a Lawyer.

Can you keep your retirement account in bankruptcy?

If bankruptcy might be inevitable, think twice before using retirement funds to pay bills. Most people can keep their retirement account in bankruptcy.

What happens if you don't pay your debt?

When you can’t pay a debt, creditors will send notices and may charge interest and late fees. If you still don’t pay, you may receive phone calls and email from the company as well as more letters. Eventually, usually somewhere between three to six months of nonpayment, the company may sell your debt to a debt collection agency which is likely ...

How to enforce a judgment on a debt collection agency?

Here are some of the ways a debt collection agency can enforce a judgment. Request the sheriff to serve wage garnishment notification on your employer, so your employer must withhold a designated amount for the creditor every pay period. File a lien on your real estate, which ...

What happens if you don't appear at the initial hearing?

This is a process where the creditor can interrogate you about your finances. If you do not appear at the initial hearing for which you received the summons or for the judgment debtor examination, in 44 states the creditor can petition the civil court judge to issue an arrest warrant.

What happens if you don't respond to a debt summons?

When a person receives a debt summons and doesn’t file a response or attend the hearing, they play right into the hands of the debt collector. If a person does not respond to the complaint within the time allotted or show up in court on the appointed day, it’s almost a given that the court will rule in favor of the debt collection agency.

What to do before getting summoned?

Before you get a summons or immediately thereafter, it would be wise to consider consulting with an experienced debt collection defense lawyer. They can negotiate with your creditors and advise you of your rights. But debt collection defense attorneys can do more than that.

What happens if you answer a complaint and show up in court?

If you answer the complaint and show up in court, there is a chance the debt collection agency will lose, or that they will only get a judgment for part of the amount asked. If you go to court, your lawyer may even be able to show that the collection agency acted illegally and owes you money damages. However, once a collection agency gets ...

Why do people ignore summons?

When most people receive a summons to appear in court because of a debt , they ignore it because the problem may seem insurmountable. They may hope that the debt collector will give up and go away. Nothing could be further than the truth.

What is a debt collection lawsuit?

A debt collection lawsuit begins when the collection agency files a “complaint” (sometimes called a “petition”) in court. The complaint will explain why the collector is suing you and what it wants—usually, repayment of money you owe, plus interest, fees, and costs.

How to challenge summary judgment?

To challenge a summary judgment motion, you’ll have to file paperwork opposing the motion. If you don’t, you’ll probably lose. Because the outcome of the lawsuit is at stake, you should seriously consider consulting with a lawyer, if you haven't already, if the collector files this kind of motion.

What is discovery in a lawsuit?

“ Discovery ” refers to the formal procedures that parties in a lawsuit use to get information and documents from each other to prepare for trial or settle the case. If you don’t raise any defenses or counterclaims, the collector probably won’t engage in discovery. But if you have a good defense or file a counterclaim, you and the collector might want to participate in discovery.

How long does it take to file a lawsuit?

Generally, you’ll get around 20 to 30 days to file a written answer to the lawsuit with the court. You’ll have to respond to the allegations in the complaint and raise any defenses you have, like that the statute of limitations (the law that sets a time limit on the right to file a lawsuit) has expired, or counterclaims against the collector, such as violations of the Fair Debt Collection Practices Act.

What happens if a collector grants a motion?

If the judge grants the motion, the court will enter a judgment against you without a trial.

What happens if a collector gets a judgment against you?

Once the collector gets a money judgment against you, you might face wage garnishment, a bank account levy, or a lien on your property.

What happens if a collector files a summary judgment?

If the judge grants the motion, the court will enter a judgment against you without a trial.

What is debt settlement lawyer?

Debt settlement lawyers can command a small fortune for their services, whether they work on contingency (meaning they take a cut of the debt savings they negotiate for you) or charge a specific hourly or per-case rate.

What happens if you owe $20,000?

2. Your wages are at risk of being garnished. In some cases, your creditors can come after your earnings if your debt goes unpaid for too long. For example, if you owe the IRS back taxes, ...

How long does bankruptcy stay on your record?

Not only is it expensive, but it can stay on your record for seven years in the case of a Chapter 13 filing, or 10 years in the case of Chapter 7.

Can I use a lawyer for debt settlement?

If you're looking for outside help in dealing with your debt, you can also enlist the help of a debt settlement company, which might charge less than a lawyer would. The benefit of using an attorney, however, is having someone who not only is experienced in debt settlement, but may know how to help you minimize your legal risks.

Can creditors come after you?

In some cases, your creditors can come after your earnings if your debt goes unpaid for too long. For example, if you owe the IRS back taxes, or if you're delinquent on your loans, you could be at risk of having your wages garnished, compounding your financial troubles. If that's the situation you're facing, then it might pay to hire an attorney to step in.

Who is Maurie Backman?

Maurie Backman is a personal finance writer who covers everything from savings to retirement to healthcare. Her articles have appeared broadly on major outlets such as CNBC, MSN, and Yahoo.

Do I need an attorney to negotiate with creditors?

Now let's be clear: You don't need an attorney to negotiate with creditors. You can try to work out arrangements yourself.

When was the Cares Act passed?

On Friday, March 27th, Congress passed the ‘‘CARES Act,’’ emergency legislation intended to meet urgent public health and economic needs in the face of the coronavirus crisis. Please visit our blog for the most up to date information on what this will mean for student loan borrowers.

Do student loans have legal assistance?

There are limited legal resources to assist student loan borrowers, but some options do exist. There are organizations in every state and most communities which provide free legal help to people whose incomes fall below certain amounts.

What does it mean when a debt collector calls you?

You are receiving calls at work from a debt collection agency. Debt collectors are calling your family, friends, neighbors, or coworkers. Collectors are threatening you with violence, lawsuit, or arrest. A debt collector attempts to collect more than you owe. You are being threatened with negative credit reporting.

Where is Midland Credit Management located?

Midland Credit Management is a legitimate debt collection agency located in San Diego, CA and employs “more than a thousand account managers around the world.”. According to the Better Business Bureau (BBB), MCM was founded in 1953 and incorporated in 2000. The BBB opened its file on MCM in 1992.

What is CFPB order?

In September 2015, the Consumer Financial Protection Bureau (CFPB) issued a Consent Order against Encore Financial Group and its affiliated business entities, including Midland Credit Management. The Order found that Encore and its affiliates, in the course of either purchasing delinquent debt or collecting delinquent debt, ...

Why did MCM call him?

He alleges that MCM called him to try to collect a debt incurred by someone he didn’t know. He told the debt collector that it had the wrong number. However, our client claims that MCM called him three more times, even after he informed the debt collector that he wasn’t the person they were looking for.

What is the FCRA?

The FCRA regulates how collection agencies and creditors report delinquent debts to credit reporting agencies. Additional consumer protection laws include the Telephone Consumer Protection Act (TCPA) and the Consumer Financial Protection Act (CFPA).

What is MCM in financial services?

MCM describes itself as “a company that helps consumers resolve past-due financial obligations… [by] empower [ing]… [them] through education and payment plans to help them return to a path toward improved financial health.”. Their Help Center features a video explaining how MCM can “educate” consumers about financial literacy.

What is MCM in consumer resources?

Consumer resources include the usual links to the credit reporting agencies and information about the FDCPA; but MCM also includes links to government programs for low-income households; food and healthcare assistance; and unemployment benefits.