A Comparison Shows Why Denver Debt Relief Attorneys Have Your Best Interests In Mind
If you are struggling with debt, it’s likely that you’re searching high and low for a solution to pay it off. Whether you’re thinking of taking on a second or third job, trying to figure out how to get the most aggressive creditor off your back, or you’re just hoping that you’ll suddenly find a magic solution, the desperation can be agonizing.
During your search, you may come across two solutions that seem promising: debt settlement with the help of an attorney, or debt consolidation through a national company. But which has your best interests at heart?
To help you understand the differences between these two approaches to getting rid of your debt, keep reading about what consolidation and a Denver debt relief attorney provide.
What Debt Consolidation Companies Offer
The average national debt consolidation company you encounter online uses the following business model: you take out a loan (with interest) with their company, and they pay off your creditors. You pay back the loan in installments over an extended period of time.
The benefits of this approach include:
- Not having to worry about paying off multiple creditors at once.
- Only having one payment.
- The ability to pay over a longer period of time, than if you tried to pay off your creditors yourself.
However, the downsides of a debt consolidation plan may not be worth the risk. These risks include:
- More interest: Accruing interest on the loan from the consolidation company.
- Payments and more payments: Having to keep paying off your debt instead of experiencing true debt relief.
- A drawn-out process: Learning that the company is only paying off one creditor at a time, which takes longer for you to become debt-free.
- A lawsuit may be coming: Creditors getting impatient with your consolidation company, which may lead to a lawsuit for you.
- No personalized support: A limited relationship with the company, so you can’t stay updated or ask questions as needed.
What You Get From a Debt Relief Attorney
When you work with an attorney for debt relief instead of a consolidation company, your legal strategy may look like this: your lawyer will advise that you stop paying anything on your debt, which makes creditors worry that they won’t see any money. Your debt relief attorney will then negotiate on your behalf to settle for half of what you owe.
The benefits of debt relief through a legal settlement include:
- A genuine settlement solution: Only paying back about half of what you owe.
- No interest: Avoiding the interest payments that come with debt consolidation.
- Committed support: A lawyer who is dedicated to helping you find the best solution.
The downsides may include:
- Modest legal fees.
- A temporarily lower credit score.
Keep in mind that hiring a Denver debt relief attorney is far more cost-effective than paying interest on a loan from a debt consolidation company over a long period of time. When you settle for 50% of what you owe, you’ve already saved yourself from paying off your debt, plus interest, with a consolidation company. A temporarily lower credit score may not be ideal, but after you’ve wiped the slate clean on your debt, you can start fresh and quickly rebuild your score. The peace of mind that you get from knowing your situation is completely resolved is priceless.
There’s No Comparison: Our Debt Relief Law Firm Is Your Best Solution
The peace of mind that you get from knowing your debt situation is completely resolved is priceless. The Wink Law Firm provides the benefits of debt relief without the hazards of working with a large, interest-hungry corporation for debt consolidation. Our attorneys empower you with a debt settlement solution that doesn’t ask you to risk your financial life by taking out another loan or making you vulnerable to a lawsuit.
We can help you find freedom from debt and all the worries that come with it. With our help, you won’t have to pay back everything you owe, and we can guide you through the process, every step of the way, so you’ll always feel confident that our team is fighting for the best solution.
Our Denver debt relief attorneys have helped countless clients over the past two decades, and we know we can do the same for you.
Schedule free consultation with our team today by calling (720) 523-0620 or by contacting us online.