This is probably because the end result is similar, a reduction in the amount of money owed to credit card companies. However, there are some differences between using a lawyer over a settlement company.
A lawyer will tend to want to have the entire process move through to completion expeditiously. This means that consumers who will want to negotiate for lower payments over a long period of time will likely not find a lawyer that is willing to help.
Settlement lawyers also, in general, take their fee from the amount of debt that is removed from the original balance owed. This means that a person with a relatively small balance due will not find help here either.
Hiring a specialized settlement attorney does bring certain unique benefits to the process. A lawyer that is well versed in local laws regarding the regulation of credit card institutions may be able to effectively reduce the debt that was incurred by citing legal points which could be completely unknown to a national settlement company.
A settlement attorney will also be more willing to actually file legal actions against the lenders as a means of reinforcing negotiations. Again, a lawyer with a very good knowledge of local laws will be very effective at this.
Finally, since any outstanding debts are open to the risk of a lawsuit, having a lawyer already working on the case can be a great asset. Filing motions to dismiss the lawsuits or invoking other federal laws to slow the process down can enhance the negotiating power of the attorney.
If the amount of money owed is over $25,000, and there is a desire to have the balance settled within a two year timeframe, then a debt settlement lawyer may be the perfect solution to resolving outstanding credit card debt.
By the way, by researching and comparing the best Debt Settlement and Debt Lawsuits Lawyers in New York
