You're falling months behind on house payments. The IRS is breathing down your neck. And your phone is constantly alerting to creditor calls. But don't worry. Help is on the way.
That loan modification company you keep seeing on late-night television commercials will take your case. All you've got to do is pay them a few thousand bucks upfront. Then they'll save your house and get the IRS off your back and those pesky debt collectors to lose your phone number. Guaranteed.
A SHADY INDUSTRY
Loan modifications can be a valuable strategy, but only through the professional services of trusted and credible bankruptcy lawyers Las Vegas who specialize in helping clients in financial distress.
That's not what these loan modification companies are all about. For starters, they'll charge you as much money as they can get out of you before they even schedule a meeting. They'll quote you a high figure, and if you don't have that much money they might settle for less and enroll you in an “easy” payment plan.
That's not how reputable attorneys work. They first schedule a free initial consultation so they can see what you're up against and clearly explain how they can help. They'll go over the cost and terms of payment and never pressure you to sign anything.
Loan modification companies might tell you to stop making your house payments and that they'll make it for you. Maybe they will. Maybe they won't. A number of these companies are under investigation or have been sued by the Federal Trade Commission (FTC) or the attorneys general of multiple states.
They're not law firms, though they might boast a lawyer or two on staff. They're mostly high-pressure salespeople who are adept at getting vulnerable debtors to sign crazy contracts that might include commissions on the bills they pay on your behalf in addition to the hefty upfront fee.
Perhaps the cruelest of their techniques is the sales pitch. They might promise that they'll renegotiate your loan terms, remove wage garnishments and tax liens and get your life back to normal in just a few months.
Again, that's not how a reputable bankruptcy Law Vegas law firm does business. At Vohwinkel & Associates we'll clearly explain the strategies we'll take, and that your home lender can't be legally compelled to reduce your interest rate or cut your monthly payments. And the IRS certainly can't be bullied into a write-off of your back taxes.
However, we'll use our years of experience and expertise to get you the best possible forms of relief.
DO YOUR HOMEWORK
If you feel that you might be falling for a high-pressure pitch, sign nothing until you go online. Check out Better Business Bureau reports or simply Google the company name. You'll likely find endless complaints from people who've been left in worse financial shape than before they turned their case over to the loan modification company. However, the companies frequently change names, so it's possible that your “savior” is a shady crew operating under a shiny new brand.
Save yourself the possibly disastrous results. Only seek help from qualified and reputable bankruptcy Las Vegas law firm. Contact Vohwinkel & Associates today.