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lawyer fees for settling a debt?


pjoner
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I currently have a consultation setup with a lawyer this coming Monday in regards to two debts that have been bought out by Midland Credit Management. I am just curious on what a fair rate would be in order for a lawyer to negotiate and draft up a settlement agreement with this JDB. I do not feel comfortable discussing the debt with them and would rather have a lawyer take care of it but I do not want to pay too much for the service. anyone have an idea of what the going rate should be?

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In most metro areas attorneys charge $250 an hour. If you are trying to settle a large sum, it would be worth your while just based on that. For sub $1000 debt, that's another matter...

The only time it is worth paying a lawyer that kind of money to negotiate on a sub $1000 debt is if your true goal is getting it off your credit reports and you don't care about how much it costs to do so.

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the debts are worth around 8 and 5.5k each. I like in NYC so I can see the fees being higher then expected. I am looking for a settlement below 50% if possible. I do not feel comfortable calling MCM and discussing it myself. I would have a greater piece of mind having a lawyer having a lawyer negogiating and drafting the letter.

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