Reasons to Seek a Bankruptcy Attorney for Debt Relief Sooner ...

Last updated 6 hours 15 minutes ago

Millions of Americans are struggling to make ends meet, often falling behind on their mortgages or unsecured loans. The best strategy for dealing with overdue bills or other debt issues is to speak with your lenders as soon as possible. A lawyer can help you modify the terms of your loans to pay them off quicker. Here are three reasons to seek legal guidance for debt relief sooner rather than later:

Better Negotiation Position By stating earlier, you put yourself in a better position to negotiate with your lenders and work out a loan modification strategy. A lawyer can send out letters on your behalf and ask for the specific terms that you would like to be changed. When your lender counter-offers, a skilled bankruptcy attorney can advocate for your best financial interests and persuade the bank to favorably modify the loan.?

Avoiding Excessive Fees Late fees, interest, and other collection charges pile up over time. The quicker you reach out to your lenders, the easier it will be to avoid these extra fees. ?Consult a local attorney so that you can deal directly with banks and credit card companies instead of fielding excessive collection phone calls or having to go through intermediaries.

Take Advantage of Government Programs Another reason to consult a lawyer sooner rather than later is because you may be eligible for certain government-sponsored debt assistance programs. Depending on your income level, your loans may qualify you for the Home Affordable Modification Program. These programs will not be around forever, so consult a local attorney as soon as possible.

Loan modification is an effective way to help many families in making ends meet. The Golden State Law Group in San Diego can negotiate with creditors to keep interest rates low and allow you to pay off the principal. If you are a California resident interested in consolidating and paying off your debt once and for all, call our office today at (858) 240-2480.

Source: http://www.goldenstatelawca.com/583672/2012/11/05/reasons-to-seek-a-bankruptcy-attorney-for-debt-relief-sooner-rather-than-later-.html

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