Lee Schwilm Talks About Bankruptcy Versus Debt Settlement Companies

I was honored to have in my studio local bankruptcy attorney Lee Schwilm of Schwilm Law Firm. Lee is originally from Albuquerque, N.M. He passed the North Carolina Barr in 1997 and deals with Chapters 7, 11 and 13 bankruptcies. In addition, he covers debtor’s rights, personal injury, auto accidents, workers compensation and social security disability appeals. Lee has filed thousands of Chapter 7 and 13 bankruptcies since starting his associate attorney job description practice in Charlotte and is dedicated to providing consumers with the very best advice based on their particular set of circumstances. He states that, “If filing bankruptcy is not for you, he will be the first to tell you.” He states that, “Most people just wait too long to come and get the advice.” He reverberates, “Don’t wait”. The sooner a person comes in to the office, he says, the less damages they will suffer in most cases.
Lee voices his Passion Against The Injustice Of Debt Settlement Agencies
In Lee’s opinion, there is a disgraceful injustice in the debt settlement industry and this has to do with debt settlement agencies. He states that these agencies instruct consumers to stop paying on their credit card accounts and instead make all payments to the debt settlement company. He explains the only way these agencies can leverage negotiations is if the client is several months behind on payments and the consumer stops paying the debt. The problem is that there is NO guarantee the agency can or will strike an agreement with the creditors, in which case, the consumer suffers further injury to their credit. There are some credit card companies that just will NOT settle for less than what is owed. He explains, settling for 50 cents or less on the dollar can have a longer harvard’s health law a career guide lasting impact to your credit than if you were to file a Chapter 7 bankruptcy, which will take approximately 3 to 4 months and IS backed by a guarantee from the federal government. He wants people to understand that filing bankruptcy is a federal tool and people have no reason to be ashamed to use the law in their own behalf. A frequent question that consumers ask is, “Won’t bankruptcy hurt my credit?” Lee’s response to this is, if you are behind on your bills, your credit is already hurt. It’s not going to get any worse. If you are on the verge of losing your home and are 4-6 months behind on your credit cards and other debts, filing bankruptcy is the lesser of the two evils. In addition, he states, once it is discharged by the courts, the debt goes away forever!

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