Monday, 5 December 2011

When to Consider Hiring a Credit Attorney

Credit attorneys are legal professionals who deal specifically with consumer protection laws, like the Fair Debt Collection Practices Act. They are well-versed in the areas governing collectors and can help to build a case against them if you have been treated illegally.

Before hiring one, it is wise to ensure that you have a strong case. Most of them will offer you a free initial consultation where they will look at your case and you will hear what services they have to offer. This consultation will help them to determine if you have been the victim of illegal practices.

If you should choose to sue, and you win, the judge can require the collector to pay damages as well as legal fees. This will not erase your debt, but could be used towards relieving your financial obligations.

On the reverse side, if you are being sued, it is always a good idea to hire legal representation. They will most likely have a team of professionals at your disposal and you will need their knowledge and expertise to properly defend yourself.

They can also assist with removing negative items on your reports; however, there is nothing they can do in these areas that you can not do for yourself. Hiring one can save you time and hassle, but you can negotiate debt with your lender or third-party agency and submit disputes repeatedly to the bureaus at no charge. These lawyers also offer financial education courses to prevent clients from finding themselves in these types of situations in the future.

Many people who find themselves in a situation where they are considering a professional may not have the amount of money it would require. In this case, there are some firms that charge a low monthly rate for their services. This may be a wise option for you if you have multiple charge-offs and collections accounts. Another benefit is that they can be named as the person to contact. This will relieve you of some of the stress of being contacted repeatedly; however, you can also submit a cease and desist request, where the reporting agency will be required to stop contacting you.

If you choose to pay by the hour, you could be charged anywhere from $75 to $300 per hour. This price tag includes their current knowledge of legal precedent as well as their writing and negotiating skills. They also may have contacts at the various agencies and will be able to move the process along more quickly. However, unless the courts have been involved, everything they can do, you can also do for yourself. You must weigh the advantages and disadvantages and decide if it makes sense financially to employ someone.

It is important to do your research, the key to finding someone who will be able to help you is in their education and experience. Look for someone who has a proven track record of success with situations similar to yours. Note, however, that with more experience and success, the cost to you will be higher.

For a free credit analysis call 888-585-3902 or for a review of the popular Lexington Law Firm a group of Credit Attorneys and Paralegals with affordable rates and a proven history of success visit us.

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