Debt Settlement vs. Bankruptcy
Debt Settlement Better Than Bankruptcy?
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!
Because the longer you wait to file bankruptcy, the more difficult it may be to save your home.
But the bank might modify my mortgage.
Sure, but what if the bank doesn’t modify your mortgage. While you wait for a potential loan modification – your mortgage arrears and the interest are piling up. This could potentially prevent you from putting forth a confirmable chapter 13 plan.
NY bankruptcy law just got better.
You should at least consult with a knowledgeable bankruptcy attorney to find out how filing bankruptcy can save your home (see our earlier posts Filing Bankruptcy to Save Your Home From Foreclosure and How Can I Use My Ch.7 Bankruptcy to Avoid Foreclosure).
We understand that bankruptcy is not for everyone. That is why we also offer foreclosure defense, debt negotiation, etc. We are simply stating that bankruptcy is an option that should be considered. At The Law Firm of Vaughn & Weber, PLLC, we don’t push our clients to file bankruptcy. We give you all of your options and assist you in deciding which course of action is best for you.
This is not legal advice!
The Law Firm of Vaughn & Weber, PLLC routinely represents homeowners facing foreclosure. We examine each homeowner’s specific situation to determine their best course of action.
We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy and foreclosure matters. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501.
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy and foreclosure attorney!