All about a debt defense lawyer in Chicago

If you are dealing with debt and have financial troubles, you might want to consult a debt defense lawyer. A debt defense lawyer is someone who helps individuals who are in debt or facing a lawsuit over debt with their knowledge and skills. If you are in trouble like this, search for a debt defense lawyer near me, and you may find a suitable lawyer for yourself.

The household debt rate in the U.S. has jumped over a 10% in the last few years against auto loan debt and credit card loans. Consumers are contacted by debt collection agencies who demand payment for their debt; they feel threatened by these calls and seek legal assistance to fight the aggressive debt collectors.

How can a debt lawyer help?

A debt lawyer can be beneficial when the case reaches court because, in most cases, the debt collectors drag the consumers to court and win the case. Because the consumer never appears in court, neither does he send a legal representative.

With the involvement of a debt lawyer, the consumer is often treated with more respect by the debt collector, and the consumer feels assured since he has someone experienced by his side. The debt lawyer also makes compelling arguments against the debt collector in court.

How a debt lawyer helps in case of bankruptcy?

When filing for bankruptcy, a debt lawyer is mandatory. A bankruptcy-specialized debt lawyer helps you with all the necessary paperwork. He can explain the difference between Chapter 7 and Chapter 13 of bankruptcy filings and will advise you accordingly.

How much does a debt lawyer charge?

You are already in a financial crisis, and hiring a lawyer may be an additional expense. But, the right lawyer not only helps you through the legal system but puts you on the right track financially.

Most law firms offer free consultations. When you choose a lawyer, the best thing would be to quote the pricing and everything in writing. The debt lawyer may charge you on a contingency basis, meaning when you win the case, he takes a decided percentage of the amount. The lawyer also can charge on a flat fee basis in cases like bankruptcy.

Depending on the experience, a lawyer can also charge hourly. Make sure to have the hourly charges in writing.

When to hire a lawyer

You should first assess if you can handle the situation yourself or with the help of a nonprofit credit counselling service. But, if neither of them works out and you feel threatened by the debt collectors, now you know you need a debt defense lawyer.