Be careful about negotiating a debt payment. Talk to a lawyer.
When a bill collector or a debt settlement company suggests negotiating a way to pay your debt, is that a good idea? Probably not.
- The bill collector is concerned with getting the debt paid, not about the cost to you.
- Negotiating a debt, maybe lowering the total amount owed, can seem like a good idea.
- There is no legal assurance the bill collector or debt settlement company will honor the agreement.
- By dealing with one bill at a time, you may compound the problem.
When signing anything, it is a good idea to fully understand what you are signing and what force it may have – or may not have –in law. An attorney can explain.
It is wise to consider your entire financial situation before making a decision involving one bill. Will settling one debt solve your financial difficulties?
Call 1-877-ONE-DEBT and ask about debt negotiation.
In a FREE initial consultation at Bond & Botes, you can discuss your entire financial situation with a lawyer experienced with helping people like you deal with financial problems. Before you make a decision, ask for legal advice.