For decades mortgage fraud has cost British financial institutions hundreds of millions of pounds every year however with the recent buy to let boom and the subsequent sudden, unexpected financial crisis, losses due to mortgage fraud have started to be felt by private individuals who have invested money on the advice of mortgage brokers, investment […]
As a consumer who has fallen behind on mortgage payments or credit card bills or even your car payments, it obviously becomes your predominant concern to come out of this financial mess. Well, it’s a fact that you practically feel as though you’ve been left alone in the wilderness with such a lot of debt weighing down on your shoulders. However, you needn’t panic for there’s respite available. As a consumer you’re afforded protection under the law and you can go ahead and seek professional debt counselors as well as attorneys who’ve got experience in terms of defending debtors from their creditors.
The various nuances involved when seeking legal assistance for debt
Take a look at the various concerns and factors involved if you’re seeking legal assistance for your debt woes contributed by www.woodgrangesolicitors.co.uk.
The credit counseling saga: If you’re facing a challenge in looking for help owing to your debt problems, then there’s credit counseling at your aid. Basically what’s important is the fact that you overcome all emotions of shame and embarrassment that’s working in you. Go ahead and participate in a credit counseling session for it’ll enable you to get the right kind of help and that too when truly needed.
The debt collections trauma: You’ve got to admit that endless phone calls and letters from creditors happen to be the most stressful and traumatic part of the entire debt experience. The good news for you is that as a debtor you’re afforded certain particular wide ranging protections under the Fair Debt Collection Practices Act. It’s under the federal law that applies to your state. It gives you the right to order a debt collector to cease further communications and in this way you can stop all contact from the collector. If and when you exercise that right, the collector has to comply else he or she might face a fine for each violation.
The judgments story: It’s a fact that your creditors can sue you as the debtor and that too on the terms of your loan. You can be sued if you fail to make credit card payments, but each time you’re sued you’re also afforded certain rights. This includes a notification from the creditor each time he or she files a lawsuit. Once you’ve been notified, you’ve also got the right to fight back in court. It’s not always necessary to have a lawyer represent you but retaining legal counsel can definitely help your case.
The scams and snares involved: Since you’re in debt, it’s pretty obvious that you have a great need for help. It’s always advisable that you be very careful when choosing help for your debt related woes, for scams and snares are abundant in this sphere. This is why legal assistance is mostly considered a safe bet and that too for more reasons than one.
Keep in mind the 4 concerns that have been discussed above when tackling your debt problems effectively. Legal assistance is always the best bet.