We have been successful in getting debt collectors to drop their lawsuits against our clients.
In a recent case of ours, the debt collector filed a 1 page complaint seeking thousands of dollars in alleged unpaid charges. We defended the debt collection lawsuit by filing a 21 page response. A few weeks later the debt collector voluntarily dismissed its lawsuit with prejudice.
Most of us have heard that banks are having trouble foreclosing on home loans because they can’t “produce the note.” Well, debt collectors are having similar issues. Basically, debt collectors can’t prove that they are the proper party entitled to enforce the alleged credit agreement.
We proudly assist residents of Nassau county, Suffolk county, Queens, Brooklyn, Bronx, Staten Island, and Manhattan with debt settlement and debt collection defense. Call (516) 858-2620 to arrange a FREE consultation with an attorney!
Debt Settlement vs. Bankruptcy
Debt Settlement Better Than Bankruptcy?
Rarely.
There are some situations which prohibit a person from filing bankruptcy and debt settlement is really their only option to get rid of their debt. Sometimes, the amount of debt or creditors are few and it just makes more sense for the individual to settle their debts rather than file bankruptcy. However, debt settlement is rarely going to be better than filing a chapter 7 bankruptcy and obtaining a discharge of your debts. Therefore, it is important to obtain accurate information about bankruptcy and debt settlement. Both options should be thoroughly explored.
Bankruptcy Attorney in Mineola
The Law Firm of Vaughn, Weber & Prakope, PLLC, proudly assists residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy filings and debt negotiation/settlement.
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
Clients often ask: “What amount can you settle my debt for?”
Our answer is almost always: “It depends on several factors.”
These factors include:
- the creditor
- the type of debt
- the age of the debt
- how many times the debt has been transferred
- the hardship claimed
- how the settlement will be paid out
Secured debts (i.e. mortgages, car loans) are much harder to settle than unsecured debts (i.e. credit cards, medical bills). Some debts can be settled for as little as 10%. However, there are creditors that insist on having a much higher percentage of the debt paid back. The creditor starts high, we start low. We never know exactly where the negotiations will end. Creditors have their target settlement amount, and we have ours.
So, no one can guarantee you that they will settle your debts for a sum certain. Be wary of any company that guarantees they will save you a bunch of money. We have numerous clients who have paid at least double our fee to a debt settlement company before coming to us. Many of these companies failed to deliver any results at all, or produced dismal results at best. What’s even more shocking is that none of the individuals understood the agreements they signed. They had no idea where their money was going!
If you choose to hire someone to settle your debts, please choose wisely!
Vaughn & Weber, PLLC proudly negotiates and settles debts for residents of Long Island, Nassau county, Suffolk county, New York City, Queens, Brooklyn, Bronx, Staten Island, and Manhattan.
Call (516) 858-2620 to arrange a FREE consultation with a Debt Settlement attorney!
We have recently encountered some issues during debt settlement negotiations with creditors. It now seems to be an increasing trend that creditors are requiring a power of attorney form, even from your attorney, to discuss the creditors accounts. Generally, a letter of representation or an authorization form is sufficient. Don’t be shocked however when they refuse to speak with any person who has not been given an effective power of attorney. Although it seems to be a little redundant to have an attorney given such powers (which the retainer has seemingly already given him), the hurdle is minor and is generally easier to comply with than to challenge. If there are any questions or concerns regarding whether or not granting your attorney the power of attorney is a wise decision, then feel free to call us at (516) 858-2620!
We proudly assist residents of Long Island: Nassau county, Suffolk county, New York City: Queens, Brooklyn, Bronx, Staten Island, and Manhattan with their debt issues.
Call (516) 858-2620 to arrange a FREE consultation with a Debt Settlement attorney!
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