Massachusetts Debt Settlement Lawyers

When a person is no longer able to keep up with payments for their debt, they often believe that their only option is to claim bankruptcy. While bankruptcy can be an incredibly useful way for a person clear debt and reset their finances, it’s not a great option for everyone. If you’re considering bankruptcy, learning about other options can be a great way to decide if it’s the right option for you.

To learn more about Massachusetts debt settlement, call our firm today at (508) 502-7002. An initial consultation with a member of our team is free so you can easily discover your options. 

When Is Debt Settlement a Better Choice for Bankruptcy?

Debt settlement and bankruptcy are two solutions to the same problem. Importantly, no one should believe that one is better than the other. Instead, what option is ideal for a person is based on their unique situation.

While bankruptcy can help a person quickly clear their debts, it can have a long-term impact on their credit report. Bankruptcies remain on a credit report for 7-10 and can make it difficult to obtain loans, credit cards, or a new home. If you’re struggling with debt but will need to preserve the positivity of your credit reports, debt settlement might be best for you.

What Is Debt Settlement?

Debt settlement doesn’t require filing paperwork with a court as bankruptcy does. Instead, it involves the process of negotiating with creditors to lower payments. In some instances, creditors will agree to lower payments by accepting less than a person owes to satisfy a debt. In other instances, debt settlement will find a debtor agreeing to pay a lump sum to a creditor to satisfy their obligations.

Importantly, creditors are frequently willing to work on debt settlement agreements because they know that a debtor always has the option to file for bankruptcy if they don’t try to work with them.

Hiring an Attorney for Debt Settlement

While debt settlement doesn’t require the help of an attorney, it can be wise to work with one. A Massachusetts debt relief lawyer from Miller Law Group, P.C. is familiar with the state’s bankruptcy process and will guide you through the process. Our lawyers are experienced negotiators, and they’ll work on your behalf to obtain a fair deal from your creditors.

A Massachusetts debt settlement lawyer from Miller Law Group, P.C. will work to things such as:

• Protect your salary from garnishments
• Create a debt management planet
• Consolidate your debts into one monthly payment
• Halt interest on debts
• Obtain the quick relief you need from your debt

Massachusetts Laws for Debt Collection Practices

Importantly, debt collectors are banned from certain practices in Massachusetts. The Fair Debt Collections Practices Act (FDCPA) protects consumers from aggressive debt collection tactics.

The FDCPA precents debt collectors from:

• Contacting third party agencies regarding debts
• Making surprise or unconsented visits to a person’s workplace
• Making legal advice or suggesting they are lawyers
• Calling a person at their home more than twice weekly
• Calling a person more than twice per month at non-home numbers

Additionally, this law requires debt collectors and creditors to send a “Notice of Important Rights" to debtors within 30 days of contacting them.

Call Our Massachusetts Debt Relief Lawyers Now at (508) 502-7002

When you call Miller Law Group, P.C., you’re turning to a team ready to focus on one thing: your financial recovery. We’ll listen to your situation and help you decide what options are best for you. If bankruptcy isn’t the right choice for you, we’ll help you negotiate with your creditors to make your debt manageable. However, we can only help you after you start the process. Call us today for a free consultation. We’ll help you discover if we’re the right firm for your needs without any obligations!

Our Massachusetts debt relief attorneys are ready to work with you and protect your financial freedom. Call us now at (508) 502-7002!