Should I Hire An Attorney For Debt Settlement?

Question

Hi everyone! I'm trying to decide if hiring a debt settlement attorney is the right move for me. I'm dealing with a lot of debt, and it's starting to feel pretty overwhelming. I’ve heard that a debt settlement attorney can help negotiate with creditors to reduce the total amount owed, which sounds appealing, but I'm a bit unsure if the cost is worth it, especially since some charge high fees.

Has anyone here worked with a debt settlement attorney? Did it make a noticeable difference, or would you suggest other options like credit counseling or negotiating directly with creditors? I’d appreciate any advice or insights—thanks!

Philip Traynor · Answer

Do not try to negotiate it yourself.  This is a scenario where you want an expert in your corner.

A debt relief company is probably your best and most cost effective option.  They will have relationships with creditors, or at the very least, know exactly what the creditor's parameters for settlement are.  Unless you find an attorney that exclusively practices in this area, they won't have that level of knowledge.

I have been on the opposing side of National Debt Relief (I was representing creditors) and they seemed to me to be competent and knowledgeable.  I don't have anything negative to say about them.

Brian James · Answer

I totally understand where you’re coming from. I was in a similar boat a while back, feeling overwhelmed by all the debt and unsure if an attorney would be worth the cost. Instead of going the attorney route, I ended up working with National Debt Relief, and it was actually a game-changer for me.

They handled all the negotiations with my creditors and were able to reduce my total balance significantly. It took a while, and there were some fees involved, but it was totally manageable compared to what I would’ve paid with an attorney. Just be ready for it to impact your credit in the short term – but, honestly, the relief of not being buried in debt was worth it. I'd say give it a look and see if it fits with your situation.