The often-misquoted Shakespeare said, "If tyranny is to exist, first we must kill all the lawyers.
" They speak an entirely different language, wear flashy clothes and revel in their own success.
However, they do know and understand the law so they may be able to help you when it comes to negotiating with your creditors.
There are a couple of factors to consider before deciding whether you need an attorney's help.
If you do not believe that you owe a creditor or if the creditor is threatening you or your employment then you may want contact an attorney.
An attorney can help you if you believe that you need to dispute a bill from a creditor.
For instance, if you have been a victim of identity theft and now are receiving collection notices for bills you did not make, a lawyer can help you file a police report, stop creditors from harassing you, and keeping these delinquent accounts from ruining your credit.
Also consider when you made the debt, every state has a statute of limitations on contract disputes, most credit relationships are considered contractual, a lawyer can tell you if the statute of limitations has run and whether or not the creditor can still legally enforce the debt.
The Fair Debt Collection Practices Act governs almost all creditors and collection companies.
Under the FDCPA, any company who violates collection rules is subject to a monetary penalty.
For instance, if you direct a creditor not to call you at work, they must cease and desist.
Consumers can sue any company that violates these policies and receive up to one thousand dollars in damages.
If a creditor is threatening to garnish your wages or to levy against any of your property, an attorney will make you aware of your rights.
No matter what you may think of them personally, an attorney can be very helpful in negotiating your debt settlement.