Debt reduction is a popular bankruptcy alternative. Its benefits include:
The benefits of an attorney managed program include:
1) Creditors by law are not allowed to contact you if you have an attorney; they must contact your attorney
2) Federal law allows consumers to recover their actual damages, statutory damages up to $1,000 plus attorneys fees and costs for violations of your rights under the Federal Credit Protection Act involving, among other things, unlawful collection efforts.
The debt reduction process involves the following:
Once agreement is reached between the law firm and your creditor on the negotiated balance owed, the law firm issues a check to the creditor from your settlement savings account which resolves your debt.
Once agreement is reached between the law firm and your creditor on the negotiated balance owed, the law firm issues a check to the creditor from your settlement savings account which resolves your debt.
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