We have seen some short-sighted blogs and articles published by bankruptcy attorneys as of late. Their target? Debt settlement companies. Unfortunately, in their haste to smear the company, they smear the option of debt workout aka debt settlement. They paint a picture of gloom and doom if you work to settle your debts for far less than you owe as an alternative to bankruptcy. For example:
Note that this article hammers away at debt settlement COMPANIES. To the extent his venom is directed at companies and NOT the process, we couldn’t agree with him more. Debt settlement companies (even those that claim they are “lawyer-assisted) are rarely the best idea. What the article fails to discuss is that trustworthy attorneys like us are available who can settle debt for far less than the amount claimed due AND that you can trust. This attorney encourages speaking with a trusted bankruptcy attorney to get sound legal advice. Sure, we agree that you should consult with an attorney. But don’t limit yourself to merely a bankruptcy attorney.
There are attorneys like us who handle debt settlement and will also give you sound legal advice. We are proud to say that our advice doesn’t necessarily always lead you to choose debt settlement. Fro some, bankruptcy is a better option; for others it is not. The folks who come to see us need to know their options.
A good attorney will give you ALL options available, make a recommendation, and let you make a decision as to how you should proceed. Sadly, there are cash-starved bankruptcy attorneys who attempt to push all prospective clients into a bankruptcy even if it doesn’t make sense. Our point? Get an opinion by an attorney on all options. If your attorney only gives you one option, you may want to continue the search. There is rarely only one option. Options have different risks and different costs, but there is invariably more than one option to consider.
Kevin Fallon McCarthy
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