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Wheaton Debt Settlement Lawyers

Attorneys for Creditor Negotiations in Glen Ellyn, Naperville, and DuPage County

warrenville debt relief lawyer

If you are overwhelmed with debt, there are several options available to you. Bankruptcy is one way to end debt collection actions against you and help you pay off your debt. However, if you do not wish to file for bankruptcy, you may be able to manage your debt through creditor negotiations. The attorneys at Anderson and Associates, P.C. can negotiate with credit card and loan companies in order to consolidate your debt and lower interest rates so you can begin making reasonable payments over a period of time.

Scams from Debt Settlement Companies

There are numerous companies who promise debtors they will eliminate their debt, but many of these companies scam debtors and are known for illegitimate business practices. These debt settlement companies tell debtors that they will repair their credit; however, the companies often leave the debtors in even worse financial situations than before. While credit counseling agencies are legitimate companies that educate debtors about financial management and guide them towards becoming debt free, debt settlement companies use illegal practices to make a profit off of unsuspecting debtors.

Debt settlement companies charge debtors a fee to settle their debts. They require debtors to stop paying their debts so it can be easier for the companies to negotiate with creditors. Once these debtors stop making payments, more aggressive debt collection efforts and actions are taken against them by creditors such as late charges, additional interest, and constant collection calls. To add to the long list of fees the debtors must pay, the debt settlement companies often design a debt settlement program and debtors who enlist the companies' help are required to participate in this program. Program participants are required to pay a monthly fee to the debt settlement company.

To combat these scams, Illinois enacted the Debt Settlement Consumer Protection Act in 2010. The act regulates the business practices of those promising to settle consumers' debts. Among other provisions, the act requires all debt settlement providers to be licensed in the state, regulates the advertising and marketing practices of debt settlement providers, and requires debt settlement providers to completely refund debtors that cancel contracts with them.

Reputable Debt-Settlement Lawyers in Warrenville IL

At Anderson and Associates, P.C., we are committed to helping you pay your debt while educating you about responsible financial management so you can become debt free. Our debt-relief attorneys have significant experience with negotiating with creditors so your debt is manageable and you can pay it off over a reasonable period of time. Do not suffer under debt any longer. Call us at 630-653-9400 or contact us online to schedule a consultation. We serve clients in Winfield, Warrenville, Naperville, and DuPage County.

Chicago Bar Association DuPage Association of Woman Lawyers Illinois State Bar Association DuPage County Bar Association Northwest Suburban Bar Association
Schaumburg Office
Orland Park Office
Wheaton Office
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