If you’re struggling with debt, it’s time to speak with a trusted Dallas credit lawyer about your debt management and debt relief options. All too often, various debt-related business ventures insist that there is only one way to relieve yourself of the overwhelming burdens of unmanageable debt. In reality, there are a host of different debt management and debt relief solutions available to consumers who are struggling. When you meet with the dedicated legal team at Leinart Law Firm, we’ll review your situation in detail so that we can objectively assess which of these options may make sense for your situation uniquely.
Credit Lawyer – Dallas, TX
When you opt to speak with an experienced Dallas credit lawyer at our firm about your debt-related struggles, we won’t simply “slap a Band-aid” on the situation and send you on your way. We’ll do our utmost to evaluate which debt management and debt relief options are most likely to help stabilize your situation in meaningful ways. We’ll then discuss ways to repair your credit over time so that you can build a solid financial future. When you connect with our team, you’ll connect with people who will eagerly invest their time and energy into turning things around for good.
Evaluating Your Options
There are so many debt management and debt relief options to choose from that it can be overwhelming to evaluate them all. Thankfully, you don’t have to. Our team has extensive experience assisting hard-working individuals with all of the major debt management and debt relief options available to Americans at this time. Therefore, we’re uniquely situated to inform you about which options may suit your unique circumstances best.
For example, if you’re trying to stop a foreclosure, we may be able to negotiate a contract modification, explore refinancing, or even file for bankruptcy so that you can take advantage of the protective benefits afforded by the automatic stay. By contrast, if you’re struggling to make payments on a single credit card with a massive balance, we might suggest a balance transfer or a debt settlement negotiation process. Whatever options prove helpful for your situation, we’ll do our utmost to ensure that they impact your financial life in truly meaningful ways.
Common Debt Management and Debt Relief Strategies: FAQ
There are so many different debt management and debt relief options available to debtors that seeking clarification about each in turn may be just a single reason you could benefit from connecting with a dedicated Dallas, TX credit lawyer at Leinart Law Firm. For example, if answers to any of the commonly asked questions we receive about popular options sparks your interest, we could talk about them in greater depth during a risk-free consultation.
How Does Bankruptcy Work?
If you successfully file for Chapter 7 bankruptcy relief, your eligible debts will be discharged without any repayment obligations. If you earn too much to qualify for Chapter 7 relief, you can reorganize your debt via Chapter 13 bankruptcy proceedings. You’ll then make a manageable monthly payment on your debt for 3-5 years. If you honor the terms of your bankruptcy, your remaining eligible balances will be discharged.
How Does Debt Settlement Work?
Debt settlement is usually only a viable option for consumers who are seeking to pay off a single, unsecured debt. Essentially, you or a Dallas credit lawyer would ask your creditor directly if they would accept a single lump sum – or two or three large payments – in exchange for relief from the remainder of your debt. This option generally won’t be viable for you unless you have access to a significant asset – perhaps a tax return – that could immediately be utilized to settle your debt.
How Does a Credit Card Balance Transfer Work?
If you’re only struggling with multiple credit card balances and your credit score is solid enough that you qualify for a credit card balance transfer, this approach may be to your advantage. You’ll consolidate your current balances onto one card so that you only have to make a single monthly payment instead of juggling multiple due dates. Just make sure that your new credit card has a high enough credit limit that you can put all of your current balances onto the card, otherwise the arrangement won’t work as intended. Also, be wary of closing your other cards if you won’t be tempted to run up debts on them again. Closing them will – surprisingly! – hurt your credit score a little.
How Does a Debt Management Plan Work?
If you struggle to manage multiple debt-related due dates and find yourself facing late fees month after month, setting up a debt management plan may work to your advantage. You’ll work with a non-profit credit counseling agency to consolidate your debts. Then, you’ll make one monthly payment – plus a small fee – to the non-profit, which will then distribute that payment to your various creditors.
How Does Debt Negotiation Work?
If you’re primarily struggling to make timely repayment on a single debt, such as your mortgage or your auto loan, the client-focused Dallas credit lawyer team at Leinart Law Firm may be able to get you meaningful results by engaging in debt negotiation on your behalf. Essentially, we’ll work with your creditor to try and obtain the most favorable renegotiated terms possible to make repayment more manageable and – if needed – to temporarily delay a few payment cycles, forgive late fees, etc.
Dallas, TX Credit Lawyer Infographic
Getting Help From A Credit Lawyer
When it comes to fixing your credit, everything may seem too good to be true. In fact, you may have tried something that sounded too good to be true only to have your credit get worse. Or, you may be so nervous to try different options to help your credit that you continue down a hole of worsening credit. Once you start getting bad credit, it can easily seem like the snowball effect is taking over. When this is the case, you may be wondering how a credit lawyer could help you during this difficult time.
What can a lawyer do for me?
Lawyers don’t help with credit, they help with legal issues, right? There are actually many lawyers who specialize in different finance issues, including how to work with a client who needs their credit repaired. Your lawyer will help by examining your credit, determining what the best route is to fix it, what it will cost, and what kinds of payment schedules could work for you. When you work with a lawyer who has experience repairing credit, you can begin tackling the debt you have much quicker and more efficiently.
What if I’m considering filing for bankruptcy? How will that impact my credit score?
When you want to file for bankruptcy, your lawyer is going to try to show you whether that would be the best route for you. If there are better ways to try to repair your credit, your lawyer will show you how to do that. However, there are absolutely some situations that call for bankruptcy and where bankruptcy will be the best option. Before you file, it is important to speak with a lawyer to see how this will impact your finances, what it will do to your credit, and how you can work to repair your credit after bankruptcy. Remember, there is no shame in bankruptcy and this does not mean you will never have good credit. It will take hard work and persistence, but you can start over fresh and slowly begin to rebuild your credit.
How long does it take my credit rating to improve after I file for bankruptcy?
When you file for bankruptcy, you may start to notice great improvements within about one to two years of filing. There is no hard and fast rule as it will depend on your previous credit score and what you are doing to repair your credit. Further, poor credit now and bankruptcy on your credit record do not mean you will never be able to take out a loan and purchase a house again. Once bankruptcy debt is discharged, many people are able to purchase homes again if they wish.
Get Help From Our Firm
Do not hesitate when you need help improving your credit score and are hoping to move on in life. You deserve the opportunity to rebuild yourself and improve your credit. Reach out to our office to see how we can help you with your credit today.
Legal Assistance Is Available
If you’re struggling to honor your debt repayment obligations in re: one or more debts, the knowledgeable legal team at Leinart Law Firm can help. You may be feeling self-conscious about the idea of consulting a Dallas credit lawyer about your situation. This instinct is both understandable and a common response to the kind of situation you’re facing. However, it’s important to be proactive both because the faster you act, the faster we can seek solutions and because it is the very nature of our profession to assist hard-working people just like you.
Don’t hesitate and spend another night worrying. Call today and learn about your debt management and debt relief options. We look forward to speaking with you.
If you or a loved one are in need of legal assistance regarding debt management and relief, it would be in your best interest to contact a Dallas, TX credit lawyer clients trust with their financial decisions and goals.
- When faced with a tough financial situation and debilitating debt, don’t struggle alone, but understand that you have options. The first important step to take for your financial future and goals is to contact a Dallas credit lawyer clients trust to schedule a risk-free consultation. During the initial consultation, clients should be honest and transparent about their finances, debts, and struggles. Clients should never worry if their attorney will disclose their private information because every professional conversation with their credit lawyer is strictly confidential. Clients do not have to fear whether or not their attorney will judge them, or disprove their financial decisions. Credit lawyers are trained and experienced to be non-judgemental, but instead, offer wise insight and counsel when appropriate. Lawyers desire to help their clients as they find creative solutions for debt management and work toward financial goals and higher credit scores.
- Credit lawyers strive to help their clients avoid foreclosure at all costs. They understand how devastating foreclosure can be on a homeowner, especially if they have a family. Releasing the right of ownership of your house can feel hopeless, but thankfully a skilled lawyer may be able to help. Before homeowners miss too many mortgage payments they should contact a credit lawyer. The sooner a lawyer gets involved, the higher the chances are for a positive outcome. Negotiating contract modifications, filing for bankruptcy and refinancing may all be creative solutions a credit lawyer can assist their clients with in order to avoid foreclosure.
- Building credit after experiencing debt, or filing for bankruptcy can feel overwhelming. There are a lot of companies making false promises to enhance their client’s credit scores. It is confusing for clients to know what wise financial decisions and investments to pursue. Thankfully experienced attorneys such as those at Leinart Law Firm are willing and able to assist their clients. They understand how many options their clients have, and will work with their client’s unique financial situations to recommend the best options to reach financial goals and enhance their credit scores.
- Debt negotiation can greatly benefit clients who are in need of assistance with their loans or mortgages. Credit lawyers work with the client’s creditors to help negotiate better outcomes, modified payment schedules, delays, and late fees. By hiring a credit lawyer, clients can have peace of mind knowing that their attorney will look out for their financial interests. Don’t wait and hope for the best if you are struggling with debt or fear a foreclosure approaching. The sooner you seek the legal help of an attorney, the faster your debt can be dealt with. If you or a loved one are in need of help regarding debt, refinancing, filing for bankruptcy, or a potential foreclosure, contact a Dallas credit lawyer today and start your journey to better financial success.
Credit Lawyer FAQs
What is the Fair Credit Reporting Act (FCRA)?
As a Dallas TX credit lawyer from our office can explain, the Fair Credit Reporting Act (FCRA) is a federal law that regulates how credit reporting agencies collect, use, and distribute consumer credit information.
Under this law, you have the right to obtain a free copy of your credit report annually and to dispute any errors you find in your credit report. Read on to see how a credit lawyer can help you correct the record and save your credit.
Why Is My Credit Score Important?
Your credit score is used by lenders and creditors to determine whether you are a good candidate for a loan, credit card, or other financial product. Having a low credit score can make it more difficult to obtain credit or loans, and it can also lead to higher interest rates, which makes borrowing more expensive.
Even more seriously, your credit score can impact your ability to rent or buy a home – and it’ll even affect your employment prospects.
What Happens If My Credit Score Is Incorrect?
If your credit score is incorrect, it could unjustly impact your ability to obtain credit, loans, housing, or employment.
Credit reporting agencies can sometimes make errors in reporting credit information, including relying on outdated or inaccurate information. Identity theft can also result in incorrect information on your credit report. If you suspect that your credit score is incorrect, you have the right to dispute the information and have it corrected.
What Can I Do If I Have An Incorrect Credit Score?
If you have an incorrect credit score, it’s important to take action right away. Start by obtaining a copy of your credit report, and reviewing it for any errors or inaccuracies. Once you’ve identified any issues, you can dispute them with the credit reporting agencies.
This process can be time-consuming and complicated, so it may be helpful to work with a Dallas credit lawyer who has experience navigating credit disputes. Your lawyer can walk you through the whole process, including gathering the necessary documentation, submitting dispute letters, and negotiating with the credit bureaus on your behalf.
What Can A Credit Lawyer Do For Me?
Your lawyer can reach out to a credit reporting agency and dispute the information on your behalf, as well as take legal action (if necessary) to get incorrect information removed from your credit report.
They can also help you pursue damages if you have been denied anything due to an incorrect credit score. If you’ve been denied a loan or credit because of incorrect information on your credit report, a credit lawyer can help you seek compensation for any damages you may have incurred.
How Can A Credit Lawyer Help Me Secure Damages?
If you have been harmed by an incorrect credit report, you may be entitled to damages under the Fair Credit Reporting Act (FCRA). Your legal team can help you determine the best course of action to take in order to secure these damages.
Depending on the circumstances of your case, you may be able to recover damages for lost wages, emotional distress, and other losses. Your lawyer can help you gather evidence to support your claim and file a lawsuit on your behalf.
If you suspect an incorrect credit score has caused you to be denied a loan or credit, don’t hesitate. Reach out to Leinart Law Firm today, and see how a Dallas credit lawyer from our office can help.