If you’re facing crushing debt, you may be able to avoid paying it all without declaring bankruptcy. In many cases, you may be able to make debts go away by paying just pennies on the dollar.
The exact amount of a debt can often be disputed even if you don’t realize it can. Many creditors fail to keep good records that make it impossible for them to prove the amount of the debt in court. The debt may also include illegally high interest or other illegal fees.
In these situations, the creditors are hoping you don’t know your rights. When they know that you’re willing to fight back, they’re often willing to settle at a lower amount rather than risk getting even less if you take them to court.
You are free to negotiate your debts at any time. If creditors think you will take too long to pay or might not pay, they might be willing to accept less today.
If you take this path, it’s important to protect your legal rights. Our job is to make sure the negotiation includes legally-enforceable provisions that ensure the creditor can’t later try to collect on the remaining debt and that your negotiated agreement doesn’t have any unexpected consequences on your credit report.
For legal assistance with debt relief in New York, contact Cohen & Mizrahi LLP in Brooklyn or Queens to schedule a consultation. Our fee is based on how much money we save you, and there is no fee if we can’t save you money.