Far too many people end up in serious debt just doing their best to stay alive. If you have debt and are drowning while trying to pay your creditors, it could be an overwhelming task. Sometimes getting outside help can be just what you need. Should you hire a debt settlement lawyer? The following are some times when it could be beneficial.

You Have a Considerable Amount of Debt

If you have creditors breathing down your neck for a $2,000 debt, there’s a chance you can negotiate to settle it with a $1,000 payment. Creditors often agree to these types of agreements because there is minimal loss and they don’t have to deal with you anymore. If your debt is a considerable amount, however, it’s likely you won’t be able to make a deal like that. 

You Face Having Your Wages Garnished

Not just any creditor can garnish your wages, but there are some that can. For example, you might have taxes you owe to the IRS. Maybe you’re delinquent on a loan that is for a particularly high amount. In those situations, you could face the possibility of wage garnishment. 

You Are Being Sued

Especially when your debt is considerable, creditors might decide to sue you. Having a lawsuit filed against you is a serious action and you’ll likely want to have legal representation to help you through it. If the creditor wins the case, you might be required to pay the loan back in full. How are you going to do that? An attorney may be able negotiate different terms that are easier for you to handle.

You Are Considering Filing for Bankruptcy

There are some situations when debt gets so out of control, the individual feels like there is no other choice than to file for bankruptcy. If this is something you’re considering, it might help to speak with a lawyer first. A lawyer might have some other options you can look into, as bankruptcy should always be your last resort. It’s a complicated process, so if you do decide to move ahead with bankruptcy, a lawyer can walk you through it.

There are several situations in which it could benefit you to hire a lawyer for debt settlement. Contact a lawyer today to learn more about how bankruptcy affects tax debts, such a team member from The Law Offices of Marty D. Martin.