Los Angeles, CA: Today, a recent report from the Urban Institute shows more than 35% of Americans have debts and unpaid bills that creditors have reported to collection agencies. These debts can include credit cards, medical and hospital bills, mortgages, auto loans, student loans, cell phone contracts, and other unpaid bills. Debts in collection can exclude consumers from jobs, car purchases, and apartments and homes.
If you are roughly 1 in 3 Americans in collections, it’s time to consider contacting a debt settlement attorney. A debt settlement attorney can likely negotiate with the collection agencies for greatly reduced debt payoffs. A debt settlement attorney can likely also insulate the consumer from harassing calls and aggressive collection tactics. The collection industry employs 140,000 people and recovers $50 billion in debt each year. The people being dunned for collection need an advocate, too.