If a person’s home goes into foreclosure, they should consult with an attorney to see whether or not the cause of the delinquency that led to the foreclosure can be challenged. There are many ways to have a foreclosure set aside, such as by working out a loan modification with the bank. Oftentimes, a consumer will have already tried to work out a loan modification with the bank prior to seeing us, but the bank will have lost documents or otherwise will have promised things they ultimately could not deliver. Once a lawyer gets involved, they might be able to shepherd the process through and obtain a loan modification before the debtor loses their house.
Should I Ever Work With a Debt Consolidation Company To Take Care Of Debt-Related Issues?
Whether or not a person should hire a company that will consolidate all of their debts under one loan at a lower interest rate and lower monthly payment will depend on the company; some of them are great, and others completely rip people off. The companies that advertise on TV and claim to have a special relationship with the debt buyer or credit card companies are not true debt consolidation companies; rather than assume all of the debt, they will ask for payment in exchange for making negotiations with the debt buyers and credit card companies. Many of these companies get shut down after receiving a certain number of complaints, after which they will open up under a different name. I caution people against getting involved with these companies and instead recommend that they have a consumer advocate attorney develop a comprehensive plan for dealing with all of their debts.
If A Creditor Or Debt Buyer Sues Me, Should I Hire An Attorney?
If someone is being sued by a creditor or debt buyer, then they should absolutely hire an attorney. With the exception of doing so for a parking ticket, a person should never go to court without an attorney. All too often, people who try to represent themselves end up throwing away thousands of dollars that they could have saved had they hired an experienced attorney. For example, I have a client who was being sued for $824; we were able to work out a way for this client to hire us, and we were able to get the case dismissed. The client only saved about $400 but avoided having a consent judgment against him and that debt is now gone.
For more information on Foreclosure Related Issues In Michigan, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (248) 843-0550 today.