It is okay to borrow some money. However, if you struggle to pay your debts, you might wonder whether you should visit a bankruptcy attorney office in Los Angeles or call a debt settlement company.
Both can help in negotiating with your creditors. Each has its own ways to help you deal with your burgeoning debt. However, it is always ideal to avoid hiring a debt settlement company.
Why Opt for a Reputable Bankruptcy Attorney?
Going to a bankruptcy attorney office in Los Angeles is more ideal than visiting a debt settlement company. One of the reasons is that a skilled lawyer can give you useful legal advice on how to deal with your debt.
The lawyer can also represent you if the creditor files a lawsuit against you. A debt settlement company cannot.
Analyzing All Options
When hiring a lawyer, make sure that he is a reputable one with years of experience in this field. He will help you uncover all options available to help you settle your debts.
At Karine Karadjian law office, we do not recommend filing for bankruptcy immediately. It is true that bankruptcy is our niche. However, we analyze our clients’ situation first before advising such.
Our lawyers can defend if in case your creditor will sue you for unpaid debts. If the creditors violate any law to help them collect the money you owed, then our attorneys can give you pieces of advice.
Why Not Debt Settlement Company?
This company may claim that it can negotiate with your credit in settling your debt. It will also tell you to make payments to them while they negotiate with your creditors.
Your creditor may agree to accept less payment than the amount you owe as your full payment. The collectors cannot continue to harass you into collecting the money.
However, debt settlement will only ruin your credit. Furthermore, it takes two to four years to reach a settlement. It can be costly in the long run.
Plus, you will pay fees that will also increase your total debt.
Unfortunately, a debt settlement company will not mention it to you that the total money you owe will increase because of the interest charges and additional fees.
The truth is that your creditors are likely to file a suit against you if they know that you are working with such a company. Remember that these companies are operating as a for-profit organization.
Thus, it is ideal to hire a lawyer in this situation to help you deal with your debts. However, be aware of some lawyers.
There are debt settlement companies that hire lawyers that are fronts to make their organization legitimate. But these attorneys will have nothing to do with settling your debt.
Hire the Best
At Karine Karadjian bankruptcy attorney office in Los Angeles, we can help you negotiate with your creditors. We first analyze your situation before recommending the next course of action, whether or not to file a bankruptcy. Consult our lawyers today by calling us at (818) 918-9660