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If you are trying to resolve serious debt or need to repair your credit score, there are plenty of people and companies who will claim to have the answers to your problems. But remember the old adage: if something sounds too good to be true, it probably is.

Unfortunately, it can be difficult to tell the differences between legitimate bankruptcy and debt lawyers and “debt settlement companies” and “credit repair agencies” at first glance. Many illegitimate businesses offer highly misleading services or operate as outright scams. Too many clients only seek the guidance of trusted Phoenix, Arizona debt lawyers after their financial problems have been made worse by these dishonest middlemen. Know that when you work with a member of the Kamper & Estrada, PLLC team, you’re working with a debt lawyer Phoenix, AZ residents trust. Why is our team so trustworthy? We are qualified, highly-experienced, licensed, and we don’t protect our own bottom line at the expense of our clients’ best interests. If you have questions about your debt relief options consider speaking to a trustworthy Phoenix, AZ debt lawyer at our firm today. 

What To Know About Debt Settlement Services

To be sure, debt settlement through negotiation can be a legitimate way to settle debts for less than their full value. However, many companies that offer this service typically overpromise and underdeliver. In fact, some companies can leave you in worse financial shape than before you hired them.

Debt settlement companies cannot guarantee that they can persuade a creditor to settle your debt, especially not for “pennies on the dollar,” as many companies claim. The negotiations could take months or longer, during which time you could be in serious trouble if you stopped making payments to your creditors. Additionally, no creditor is bound to accept a settlement agreement, so these promises are made on a false foundation. 

The state of Arizona doesn’t ban debt settlement services, but it does place strict rules on how they operate, what they are required to disclose to you, and what you should be wary of when dealing with them. You can find out more information on the Arizona Attorney General’s website.

Credit Repair Agencies Are Almost Always a Scam

Your credit score and history greatly determines your financial options. If you have poor credit, you may not qualify for a mortgage, a residential lease, a car loan, insurance and even jobs in certain professions. Therefore, if you have made mistakes in the past and now suffer from bad credit, the idea of hiring someone to fix your credit score may sound appealing.

But you should be aware that as long as the information on your credit report is accurate, it cannot be removed by anyone. And the only person who can repair your credit is you – through years of consistent, responsible financial behavior.

In short: hiring a company to repair your credit is a waste of money at best, and a scam to get sensitive personal information from you at worst. Avoid these companies/agencies entirely.

Who Can You Trust?

Bankruptcy and debt lawyers are bound by the high professional and ethical standards of the American Bar Association and the State Bar of Arizona. Our firm’s Phoenix, AZ debt lawyer team is fully licensed and are knowledgeable about all your debt relief options, including personal bankruptcy and alternatives. And after a thorough examination of your financial health and debt issues, we make recommendations that are in your best interest – not ours.

Our firm offers straightforward answers and a non-judgmental approach to client interactions. If you want honest, informed advice from a professional who can truly help you resolve your debt issues, contact us to schedule an initial consultation with one of our skilled attorneys. We look forward to speaking with you.