Debt Validation and Debt Consolidation Differences
What is the difference between debt validation and debt consolidation? When people get deep into debt, they often feel like they need to take desperate measures. In their search for Florida debt relief, they sometimes turn to companies that promise debt consolidation.
While debt settlement and debt consolidation might be able to help improve a desperate debt situation, they are really only temporary band-aids. The best solution for anyone dealing with heavy consumer debt is to have their debt completely dismissed.
Yes, you read that right. There is a very good chance that your heavy debt load can be completely and legally dismissed.
How They’re Different
Here’s how debt dismissal is different from debt settlement and debt consolidation:
1. Debt consolidation: some debt-relief companies boast that they can help you consolidate all of your different debts into one single debt that’s easier to manage. For example, if you owe money on multiple credit cards, they will combine all of these debts together so you only have to make one debt payment. While this might be more convenient, it doesn’t do anything to reduce your overall debt load.
2. Debt settlement: this is a little better than debt consolidation. Companies offering debt settlement claim that they will negotiate with your creditors and get them to accept less money from you than you currently owe. But there are two main problems with this: First, there is no guarantee that your creditors will offer such a settlement. And second, even if they do, you could still remain heavily in debt.
3. Debt validation: this option is exactly what it says: the complete and legal validation for the dismissal of your debts. “But how is this possible?” you are probably wondering.
Most people don’t realize this, but in the course of trying to collect money from debtors, creditors often violate consumer protection laws and, thus, the legal rights of debtors. These violations include making harassing phone calls and assessing exorbitant penalties and interest rates. Sometimes, these laws are even violated before an individual gets into debt, such as when predatory lenders use unscrupulous and illegal practices to get individuals to assume debts they can’t possibly repay.
It takes a skilled panel of attorneys who are well versed in consumer protection laws to uncover these creditor violations. When you work with a debt dismissal company, an attorney like this will submit a certified letter of representation to the creditor on your behalf. The attorney will then investigate all aspects of the case, looking for ways the creditor may have violated consumer protection laws and your legal rights.
If and when these validation violations are found, and in most cases, at least one of these kinds of violations by the creditor is found. The attorney will sue the creditor if applicable and ask that the debt be completely dismissed. If the judge rules in your favor, your debt with this particular creditor could be eliminated.
Call Resolvly at: (855) 404-0034 to learn more about how we can help get your debt completely dismissed. This could be the most important phone call you ever make when it comes to your personal finances.
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