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
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.
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.
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