Quick Tips For Hiring The Right Lawyer

There will be times that you will be facing challenges and during these times, you will be forced to legally defend yourself. So make sure when this happens, you have a competitive and professional lawyer who will defend you. The question is, how will you determine whether you are hiring the right lawyer or not?  Thanks to the Federal Trade Commission (FTC) because it offers the following quick tips to help you hire the right lawyer.

  • Know whom you are dealing with. Lawyers have different areas of expertise so be sure that your attorney has a relevant experience and knowledge about your case. Ask family, friends, and other relatives or go check your state or local bar associations for lawyer recommendations.
  • Do your research. Interview multiple lawyers before hiring. Think of it as if you are hiring for your business and you are looking for the right employees. Be sure to ask if there are initial meeting fees (most of them don’t have). Talk to them about your problems in a brief and concise manner. Don’t forget to ask about their experience, fees, your options, what are the odds, limitations of work, and when the problem might be resolved.

  • Understand what you’ve both agreed to. Be sure that you know how often will you be updated, what are the fees for specific services, how often will you be billed, what information should you provide, what your options are, and the total cost for the entire legal service. Be sure that this agreement will be written and recorded to use as future reference.  If there’s something that’s not clear for you, clarify it to your lawyer and be sure that you are comfortable with your lawyer’s approach towards your case.
  • Understand the fees and payment arrangements. Be sure to know if you will be responsible for other fees such as copying of documents, courier services, court filing fees, and/or research services. Your lawyer should explain their fees and know if he or she is charging you reasonably. It is recommended to put this into writing. And here are the payment arrangement:
    • Contingency fees– it is an arrangement where your lawyer gets a percentage of whatever money you receive as a resolution for your case.
    • Flat fee– this is an arrangement where you pay your lawyer for a particular service
    • Hourly rates– this is an arrangement where your final cost will depend on how long it takes to complete the work. Expert and experienced lawyers have higher hourly rate since they can finish tasks more quickly.
    • Retainer– this is an arrangement where you pay your lawyer up front. This fee is usually spent as a down payment on expenses.
    • Public Legal Service– this is an arrangement where you qualify for free or low-cost legal service through special organizations.
    • Prepaid Legal Plans– this is an arrangement like an insurance policy. You will pay a monthly fee so when you need legal services in the future, it will be your insurance company’s responsibility to provide you with it.

Article with thanks to Dean Hines – Columbus Ohio Tax Attorney

Legal Ways For The Elimination Of Unsecured Debt

What’s the difference between secured debts and unsecured debts?

Secured debts are those that are lent out with a collateral. This kind of debt is advantageous to lenders because if the borrower does not pay his or her debt, the lender can seize the collateral to make up for the loss or to regain the lender’s money. The collateral can be the borrower’s assets, if not, then the borrower can have a co-signer for the loan. If the borrower cannot pay the loan, the lender can collect the remaining balance from the co-signer.

On the other hand, unsecured debts are debts that have no collateral when borrowing money to a lender. This kind of debts is lent out without any security. It is lent purely based on words and assurance of the borrower that he can pay the loan. However, one must have a good history of borrowing money to avail this kind of debt. Furthermore, unsecured debt has a higher interest rate compared to secured debt and is not good for long-term basis. It has higher interest rate to cover the risks undertaken by the lender because suing the borrower for not paying the remaining balance are both money and time-consuming. Some of the types of unsecured debts are business loans, personal loans, credit cards, and student loans.

How to legally eliminate unsecured loans?

  • Ask for help from your friends and family to lend you money for the payment of your debt. Tell them that you will pay with a good interest rate (but be sure that the interest rate will be much lower than the interest you would pay from your current lender). Thus, giving them a secure way of lending their money.
  • Seek for help from professionals or debt counselors. These professionals will advise you to pay more over the required monthly minimum rate so that your debt will be paid off in a shorter period of time. This will not only lessen the principal amount but also refrain you from paying so much of the interest rate. They can also help you negotiate for the reduction of interest rate, though, but still, you have to pay your entire debt.
  • Avail the services of a debt settlement company to eliminate unsecured loans quickly. The debt settlement company will help you negotiate with the reduction of your total debt. Note that it does not only cover the reduction of interest rate but also the principal amount that you have loaned. This is to let you save on the amount that you need to totally pay off your debt. So, get a professional help to eliminate your unsecured debts because credit companies prefer to talk to professionals and there’s a higher chance to have a successful settlement with their help.

Therefore, unsecured loans are only helpful for those who can pay their loans on time because they can have their loan immediately without a collateral.  Do not dive into this kind of debt if you think you can’t repay your loans on time, as it will only worsen the problem.