Minnesota Debt Settlement Attorneys
At Fields Law Firm, we understand how difficult it is to make ends meet these days – most people are living check to check. When you are faced with an injury or disability, or you are struggling to pay your debts, you may feel lost without options.
At a time when you are unable to work, trying to get better, and fighting the insurance companies, the last thing you need is debt collectors contacting you.
That’s where we can help. Fields Law has always been there to make sure you have all of the legal help you need following an injury or disability. Now we are also able to help you with debt collection issues which may arise due to your injury or disability.
If you or someone you know has been contacted by a debt collector regarding an alleged debt, contact Fields Law Firm and ask to speak with one of our experienced consumer lawyers to ensure that your legal rights are being protected throughout the process.
Examples of When We Can Help
- When you cannot pay your credit card debt and need help settling your debts
- If creditors are trying to collect old debt (past the Statute of Limitations)
- If you experience any kind of debt collection abuse or debt collector harassment
- If you have had judgments served on unpaid debts
- If you are getting robocalls to your cell phone
- If you have inaccuracies on your credit report
- When you are a victim of identity theft, resulting in credit report errors or debt collectors trying to collect debt that is not yours
- If your vehicle is wrongfully repossessed after defaulting on your car loan
- If debt collectors violate the law when contacting you about your defaulted student loan
How Do Debt Collectors Work?
Debt collection agencies are hired by creditors to collect various types of delinquent debts:
- Credit card debt
- Car loan debt
- Personal loan debt
- Medical debt
- Commercial debt
- Student loan debt
Once hired, debt collectors use letters and phone calls to attempt to contact delinquent borrowers to try to convince them to repay what they owe. They typically rely on contact information provided by the original creditor, but often rely on computer software, private investigators, and third parties when that is unsuccessful.
Debt collectors are responsible for negotiating with delinquent borrowers to try and collect and resolve past due amounts. Debt collectors will typically try to work with delinquent borrowers to create a debt repayment plan if the delinquent borrower is unable to pay the full amount of the alleged debt. However, debt collectors will always try and negotiate a repayment plan that is favorable to their client; they are not looking out for your best financial interests.
What If I Cannot Afford To Pay Off My Debt?
Because debt collectors are hired to resolve debt, not just collect it in full, they will try to work with you to develop a repayment plan. Debt collectors typically work on a commission basis and only get paid when they recover a delinquent debt. Therefore, the more they can recover from a delinquent borrower, the more they earn.
Before agreeing to a repayment plan proposed by the debt collector, it is in your best interest to contact a Debt Settlement attorney at Fields Law Firm who will be able to negotiate with the debt collector to ensure that the terms of your repayment are favorable to you.
How Much Will it Cost to Hire a Debt Settlement Attorney?
We offer free initial consultations and provide hourly rate services for debt settlement cases. However, there are no out-of-pocket costs if the debt collector violated the law and we are able to sue the debt collection agency. In those cases, we work on a contingency fee basis. This means that you will not owe any money for attorney fees or costs unless we win your case. Most importantly, the FDCPA and FCRA requires violators to pay successful plaintiffs’ attorneys’ fees. Therefore, we only get paid if we win and if we win, we get paid by the party who violated the law.
What Are The Laws That Debt Collectors Must Follow?
The Fair Debt Collection Practices Act (“FDCPA”) is the main federal law that governs debt collection practices. The FDCPA prohibits debt collection companies from using abusive, unfair, or deceptive practices to collect past due debts from consumers.
The Fair Credit Reporting Act (“FCRA”) is a federal law that governs how a credit reporting agency handles your credit information. It is designed to protect the integrity and privacy of your credit information. The FCRA requires credit reporting agencies – and the entities that report your credit information to them and others – to ensure that your information is recorded fairly and accurately, and kept private. The FCRA protects your right to access and correct any inaccuracies in your credit report and provides you with remedies if a credit reporting agency or furnisher of information violates your rights.
If you are facing challenges paying your bills, Fields Law wants to help. We’ll answer your debt settlement questions, determine what options you have, and empower you to make confident decisions about your future. It costs nothing to tell us about your situation and get our advice. Call us today to find out how we can help.