Baltimore, MD (Vocus) September 19, 2010
This summer the Today Show ran an investigative story about a debt settlement company – Credit Solutions in Texas. Persels & Associates, a law firm who works with consumers to settle debts, is different from Credit Solutions in some very specific and important ways.
Persels & Associates, LLC provides representation for over 50,000 clients with a staff of over 25 in the Persels central office and 150 field attorneys licensed in 47 states.
Persels & Associates and its predecessors have been working with clients to restructure debt payments for over 10 years. The law firm bridges the "gap" that can exist between the consumers and creditors. The firm’s ability to provide legal advice and negotiate payments consumers can afford can be essential to people working their way out of debt.
Persels & Associates clients are not at risk for the client issues outlined in this summer's Today Show story.
Credit Solutions charges upfront fees to settle debts. Persels & Associates does not.
- Unlike traditional debt management programs, like Credit Solutions where consumers can pay up to 115% of the debt balance plus interest and penalties, the Persels & Associates fee structure has clients pay a very small set-up fee, then a nominal monthly administrative fee while the payments are being negotiated with the creditors.
- For a small initial set-up fee and an administrative fee of $50 per month Persels & Associates will negotiate with consumers’ creditors to reduce payments to something they can afford. Persels & Associates will also assist the consumer if legal issues arise.
- Persels & Associates was the first law firm to move to this structure, developing a program that was in the best interest if the clients of the law firm.
Persels & Associates is a Law Firm. Representation by a law firm for purposes of negotiation of your debt provides you with many benefits that Credit Solutions cannot offer customers.
- Lawyers have been negotiating debt settlements for clients for hundreds of years;
- You are assigned to an attorney in your state who fully understands state law and analyzes your situation to form a solid legal strategy;
- You have full access to the assigned attorney to answer legal questions as they arise throughout the representation;
- Once a third-party collection agent receives notice that you are represented by the law firm, the collector must cease attempts to contact you;
- If one or more of your creditors become aggressive, the law firm will be there to advise you of all of your legal options and to assist you in asserting your rights.
Persels & Associates WILL NOT KEEP YOUR MONEY if you terminate the debt settlement arrangement with the Law Firm.
- Persels & Associates is a law firm and clients have the right to terminate their representation at any time.
- Unlike Credit Solutions, the company, featured on the TODAY Show, any funds remaining in the client’s trust account will be returned to them within 10 days of the firm receiving notification of their desire to terminate.
Persels & Associates have been in business a long time
- P&A has been supporting people struggling with debt since 1997. Our attorneys carefully review each and every client's file to verify the client's status, as opposed to other firms who may only review a client's file if they are having problems.
The Persels & Associates Process
- Most firms do not begin negotiations until enough balance has built up in your account, which can often take months. This initial length of time, often referred to as the "quiet period", actually increases the risk of creditors taking legal action.
- Persels offers settlements that suit individual client situations, with standard terms for Debt Representation of 36, 48, or 60 months long.
- Persels also offer a customized term for clients who require a more personalized payment option. Persel’s goal is to find the right term for each client, so that they can achieve success in their debt representation.
About Persels & Associates
Persels & Associates, LLC, and its entities are pioneers in the field of offering "unbundled" legal services to individuals who cannot afford traditional legal services. As Americans credit debt rose, Persels & Associates bridged the "gap" between consumers and their debtors. Today, Persels & Associates employs over 150 lawyers in the 47 states and has 25 central office staff attorneys with over 50,000. For more information please visit http://www.perselsandassociates.com.