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.
