What is Attorney Debt Settlement?

Attorney Debt Settlement vs Traditional Debt Settlement

There are really 3 routes one can take when settling their debts: 1) Do it Alone; 2) Hire a Non-Attorney Debt Settlement Firm; 3) Hire an Attorney.

Alone

Non-Attorney

Attorney

Ability to Undertake Basic Negotiations

X

X

X

Able to get a Deal, Any Deal

X

X

X

Say the Correct Things

X

X

Third Party Oversight (other gvt agency)

X

X

Training & Supervision

Debatable

X

Bonded/Insured

Sometimes

X

Enhanced Negotiation Experience

X

Advise as to Contractual Obligations

X

Advise of Statute of Limitations

X

Draft and Review Release Agreements

X

In Person Legal Consultation

X

Litigation Defense

X

Collectors Required to Call via Federal Law

X

Enhanced Ethical Requirements

X

Advise as to Other Legal Options

X

Price

Free

Highest

Lowest

Consumers can settle the debt own their own.  The biggest benefit of going it alone are that it’s free and you can get a deal. Frankly speaking once you add in the fees of a non-attorney firm it is probably a break-even proposition.

However with both the solo and non-lawyer approach the consumer typically ends up paying more, receiving a smaller discount, foregoes real legal analysis and risks making the wrong financial decision as opposed to a skilled debt settlement attorney.