Debt Settlement Lawyer Memphis, TN
At Darrell Castle and Associates, PLLC, a debt settlement lawyer Memphis, TN residents trust has been helping people settle their debts or file for bankruptcy for many years. We understand how complex finances can be, and will work hard to see that creditors stop harassing you for payments. It can be stressful to get phone calls, voicemails, and letters in the mail about an outstanding debt that you just can’t pay. Let us help you negotiate with creditors so you can settle the matter once and for all.
When it comes to negotiating with creditors, there are certain steps we will take to help you resolve the issue. Here we have outlined what those steps entail, and how we can be an influential part of this process. We understand how credit agencies and the debt system operates, and know how to protect your best interests too.
Step #1: Halting Creditor Phone Calls
Ignoring creditor phone calls won’t get them to stop. Also, telling the creditor over the phone that you don’t have the finances to pay them back certainly won’t stop the calls either. However, there are two approaches that can get these relentless calls to halt. Firstly, you can write the collection agency a letter to “cease and desist” their collection efforts. The second choice you have is to obtain a lawyer to intervene. Trust us when we say that when we speak with creditors, they are often more apt to stop immediately. We are not afraid to intervene and solve the problem for our clients.
Steps #2: Validating the Debt
By validating your debts it helps you have a better understanding of exactly how much you owe. A lawyer from our bankruptcy law firm Memphis, TN community members trust can offer support every step of the way. Based on federal law, after a collector first communicates with you, they have to send a written letter that states:
- Your name
- The total amount of debt
- Your rights in disputing the debt within 30 days
- Details about your ability to send a written request to verify the debt from the original creditor
If you submit a request to have your debts verified, then the collection agency must cease their efforts until the information you request has been sent. Validating your debts is a vital step, as it can halt the process of collection temporarily. After your debts are verified, a lawyer from our firm can create a defense and begin negotiating reducing your debts.
Step #3: Debt Negotiation
The negotiation process can take anywhere from 6-36 months, depending on how much you owe to creditors. During this period, you will have time to save money to use in the settlement. What you may not realize is that many creditors are willing to negotiate, because they would rather get some money now than continue collection attempts without success.
If you need help settling a debt, please call a TN debt settlement lawyer in Memphis from Darrell Castle and Associates, PLLC today.