4. Can’t I just settle the debts myself?
Absolutely. Many creditors will settle or negotiate with you directly. Do we recommend it? No. Unfortunately the process can be lengthy and tedious and many consumers do not have the funds available to settle. Because you originally signed a legal contract with the creditor as well it is highly recommended that you have an attorney working on your behalf.
This insures the entire process is completed legally and that the debt is considered paid with a zero balance on your credit report. In most cases a creditor will settle with a consumer for the same amount that a law firm will negotiate. Because the attorney retainer fee is included in that amount it only makes sense to have an experienced consumer law firm represent your best interests and provide legal protection.