Alternatives to Filing for Bankruptcy

Debt Relief Options in Westchester County

Some lawyers may immediately recommend bankruptcy for a client, even when there may have been a viable alternative that would have been more beneficial in the long run. When you work with a Westchester County debt relief lawyer at our firm, we take the time to talk to you about what you are going through.

When we work together on your case, we will make an honest, thorough evaluation of your unique financial situation to determine whether an alternative to bankruptcy makes more sense for you. You can count on receiving the information that will empower you to make the right choices in the face of overwhelming debt, creditor harassment or foreclosure.

Following are some of the potential alternatives to bankruptcy that we can discuss with you:

• Debt Settlement - For clients who cannot proceed with bankruptcy or do not wish to we can develop a debt settlement program customized to a client's individual needs. Debt settlement allows a debtor to make an affordable payment into an account that they control. Our experienced staff works with the creditors to settle debts at percentages as low as 20%. As a law firm we can also defend a collection action if necessary.
• Stopping creditor harassment - harassment from creditors and debt collection agencies is a primary reason that overwhelming debt can become extremely stressful. An attorney at our offices can look at your situation to determine whether these creditors are actually breaking the law with their efforts to collect your debt. If so, you may have grounds for legal action. Even if no laws are currently being broken, we may be able to help you take the appropriate action to lessen constant calls or contact by creditors.
• Deed in lieu of foreclosure - if you are facing foreclosure, it is possible that your lender may accept a deed in lieu. In this case, you would surrender the home to the lender and would be released from further liability.
• Loan modification - if you've fallen behind on your mortgage payments, loan modification may be an option to avoid foreclosure. Your attorney may be able to work out better terms for your mortgage loan and may even be able to work out a way to pay past due payments.

With any form of debt relief, it is important to carefully review all options before making any important decisions.