Debt Settlement Companies and Bankruptcy

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When someone is facing hard times financially, they’ll do just about anything to get on top of it, even if it means consulting a debt settlement company. A debt settlement company typically promises to work with your creditors to reduce the amount you owe.

A typical debt settlement company charges high fees for their services up front. Even if they can’t reduce your debt, they still get to keep that money. These types of businesses also tend to encourage their clients to stop paying their debts and to stop communicating with their creditors. This is terrible advice. If you stop paying your debt and you stop communicating with your creditors, you may find yourself in a lawsuit.

In addition to the awful advice, these debt settlement companies usually fail to settle with any of their client’s creditors, leaving them in a position that’s worse than when they started. When you’re facing financial hardships, it’s better to speak with an experienced bankruptcy attorney. He or she can lay out what your options are and give you advice on how to decrease your debt.

If you’re tired of hearing from creditors on a daily basis and you just want a fresh start at life, contact a Phoenix bankruptcy attorney. You can schedule a free consultation with Mesa bankruptcy lawyer, JacksonWhite by calling 480-648-8975.

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