Law On Debt & Debt Relief Law
According to the latest statistics from the major credit report bureaus, the average US household has several thousand dollars worth of debt. Unfortunately, many people end up in a financial crisis if they miss one payment due to an unforeseen event, like medical bills due to sickness or injury, divorce, or job loss. With the current exorbitant interest rates and late fees, it is evident that a single missed payment can result in a never-ending cycle of increasing debt. Luckily, US law offers consumers both protection and options in the form of the law on debt. The law on debt is meant to offer consumers a way out of debt as well as protection from creditor harassment. As part of the law on debt, debt relief law offers consumers a number of debt relief options based on their specific circumstances. Debt relief law encompasses the legislation pertaining to all debt laws from debt settlement laws to bankruptcy laws. Debt laws not only protect the consumer, but also protect the creditor as much as possible. For example, certain debt laws allow creditors to object, under court supervision, to the consumer’s debt relief petition.
Debt Settlement Laws
Some of the most effective types of debt laws are debt settlement laws. Debt settlement laws govern the legal procedure by means of which a debtor negotiates a reduced debt with his creditors. Debt settlement laws also provide for the construction of a repayment plan to pay off the remainder of the debt. For many people with over $10,000 in unsecured debt, debt settlement law offers a relatively fast way to debt relief. To consult with one of our experts in debt settlement law, contact our Consumer Law Offices. Our lawyers are experienced in debt settlement law and are knowledgeable about both federal and state debt settlement law. Typically, our experts in debt settlement law can negotiate a debt settlement of fifty to seventy percent. With the help of a debt settlement law expert from SettlementDebtLaw.com, you can rest assured you will get the best debt settlement possible.