If you hire a debt settlement attorney to represent you with respect to your debt settlement, you can be assured that your settlement funds are safe. Your attorney will hold your money in what’s known as a “COLTAF” account (referring to the Colorado Lawyers’ Trust Account Foundation), which is an identifiable, interest-bearing, insured depository account. Your attorney is bound by the Colorado Rules of Professional Conduct, so if for any reason your money were to disappear, that attorney would be disbarred – and that’s a risk that no sane attorney would take.
Where is my money being held until a settlement is reached?
Don’t let your debt hold you back any longer. Get back on the path to financial well-being by contacting an experienced bankruptcy attorney today to discuss debt settlement and credit card debt negotiation. We typically help our clients settle their debts for $0.50 to $0.60 on the dollar, and truly want our clients to become debt free.