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DIY Debt Settlement – How to Handle Lawsuits

If you or someone you know is going through a difficult debt situation and want to do something about it there are many options available to consider but it’s no secret that debts can be settled directly with creditors and with the overwhelming amount of information online, consumers are educating themselves on how to negotiate settlements on their credit cards. Growing up I used to hear my father say, “Why should I pay someone to do what I can do”? DIY negotiating can get you out of debt a lot faster and save you thousands of dollars in fees.

If you are ready to deal with the creditors but need some guidance there are several DIY coaching systems (like Consumer Recovery Network or Zip Debt) that can walk you through how to negotiate on your own.

Everyone knows that collectors can be intimidating and threatening but once you learn how to handle collection calls there’s very little to worry about, except lawsuits. The chance of a creditor lawsuit is high regardless if you are doing it yourself or enrolled in a debt settlement program.

Lawsuits are the most effective and a common method of collecting debt and anyone sued over a debt has four choices:

  • answer the complaint;
  • do not respond;
  • file for bankruptcy; or
  • settle.

Negotiating your own debt is one thing but filing an answer to a summons by yourself can be very intimidating. The Veritas Legal Plan provides full legal representation on all accounts.

The Veritas Legal Plan is the ONLY credit card/debt collection defense legal plan that offers attorney representation without limits, deductibles or co-payments. It’s very simple, if you get sued on any of your accounts, the plan will assign a local attorney and cover all costs. You can speak with the attorney who will defend the lawsuit through trial if necessary and work with you to negotiate a settlement.

For more information visit www.veritaslegalplan.com, email [email protected] or contact them directly at 877-745-5006.


This guest post was submitted by Angelo Anzalone, managing partner at Veritas Legal Plan which is backed by Hyatt Legal Plan – A MetLife Company.

Previously, Angelo founded Active Debt Solutions; a performance based, no upfront fee settlement company in 2007 and has been an outspoken consumer advocate in this field.

If you would like to contribute a guest post, click here.

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  • James

     There are alot of Debt Settlement companies out there that will charge an arm and a leg to help you to settle your debt.  There are Debt Settlement Lawyers that can help to but it REALLY gets me angry when they have the person pay so much to get started.

    DAMN! They are already in deep debt that is why they are going to them.  The worst part is that they can do it themselves.

    There is a program that is marketing towards people wanting to make money from home, but it can be used for people to settle there OWN debt just like thes lawyers and debt settlement companies.  The program is called Making Money in the Debt Business.  Use it to settle your won debt check it out at http://makingmoneyinthedebtbusiness.com

    • DAMN YOU

      James, you can’t even lie with a straight face while you stutter!
      Can’t wait for the “knock” on your door! 

    • http://www.activedebt.com/ Angelo Anzalone

      That has to be the cheesiest plug ever!  One of the biggest red flags of a scam website is no phone number and no address.  Epic fail James, shame on you.  

    • http://www.zipdebt.com/ Charles Phelan

      The 2008 website copyright and “recent” results from 2009 are real confidence boosters as well. :-)

    • http://northeast-properties.com/ Andy Faria

      Wow! this is all it takes to start a ‘debt business’ .. who would have thought…….

      All you NEED is the following: The “Making Money in the Debt Business” Wealth Building Manual.A post office box ($30.00 a year) A separate phone for your Business.(You want to look professional. It will cost approx.$45.00 a month)
       A phone line for a fax (You can use your home phone line.)
       A business license (Very easy to get. Register with the state, it will cost approx $50.00)
       A computer *
       A word processor (example: MS Word)**
       A spreadsheet (example: MS Excel)**
       A strong desire to SUCCEED
      * You don’t need a computer if you plan on doing all your paperwork by hand and are not planning on using a valuable tool like the Internet.
      ** You don’t even need this. You can do all your paperwork by hand.1

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