When facing debt and other financial challenges, it’s quite common to think we should deal with the situation alone. It can also be embarrassing to admit that you might need help taking care of your debt. However, you don’t have to deal with your debt alone. There are also situations in which you have a better chance at a positive outcome with a lawyer on your side. Here are a few signs that might indicate you need a lawyer for help with your debt.
Creditors Aren’t Working with You
If you’ve attempted to make payments on your debt but you can’t afford the amount they are asking for, a lawyer may be able to help. Although creditors often assist in setting up payment arrangements that fit your budget, this isn’t always the case. If your creditors are difficult, not working with you, or even unreachable, sometimes a debt attorney can make a huge difference, especially in negotiating terms of the debt, tracking down the right creditors, and making sure you get the best possible outcome for your situation.
Creditors Harass or Make Threats
There are laws regulating debt collection practices in order to protect consumers. If you are being harassed or threatened by creditors, you need a lawyer to help you not only deal with the situation but possibly file a lawsuit against the creditor for their actions. According to the Federal Trade Commission (FTC), creditors are prohibited from using abusive language, making false statements to you or your family members, and even contacting you at inconvenient times or places, such as work. Owing a debt does not give creditors free reign to abuse and torment you.
You Aren’t Able to Pay Living Expenses
If you find that your debts are keeping you from being able to feed your family, you need a lawyer to help get your finances under control. In this situation, you will likely need to file bankruptcy to resolve your outstanding debt. Making payments on your debt shouldn’t mean suffering in other areas. You should still be able to eat and pay basic living expenses. If your bills are causing you undue hardship, you should immediately contact a bankruptcy lawyer for help.
Possibility of Losing Home or Wage Garnishment
Outstanding debt can also result in losing your home or having your wages garnished, which is not only frightening but can have a terrible impact on your life. If you are at risk of foreclosure or having money deducted from your salary, it’s important that you consult an attorney right away. You don’t have to attempt to navigate these types of situations alone, and you certainly should not just accept these events as consequences of your debt. A debt lawyer may be able to help you keep your home and keep your income from being garnished.
Are you wondering if you need legal assistance with your debt? Contact us for a consultation. And, don’t forget to share this information with someone who may need help as well.