If you are considering debt resolution as a way to rid yourself of unwanted debt, you have at least two options: you can hire someone to do it or you can try to do it yourself. Doing it yourself is almost always a bad idea. The old axiom: “the lawyer who represents himself has a fool for a client” applies to those who attempt to negotiate their own debt. Do you drill your own teeth? Do you cut your own hair? Of course not. You hire a professional because the result matters to you.
It is the same with dealing with harassing debt collectors and achieving debt settlement. Even worse, your bank and credit card company have spent thousands of hours identifying the best methods to extract more money from you than you want to give them. Lack of knowledge in a negotiation is a very bad thing: people that try to do it themselves don’t know what they don’t know.
Because all creditors are not the same (some will accept less than others and some will demand far more than people read about on the internet), an inexperienced do-it-yourself debt resolution will often cause you to accept offers that could have been far better and reject offers that will not get any better, often leading to litigation.
Whether you suffer from credit card debt, private student loan debt or medical debt, be sure to know your rights under the many federal laws to fight against harassing debt collectors and win debt resolution.