By: Robert J. Nahoum Being sued by a debt collector in New York is stressful, but a lawsuit is not a guaranteed loss. In fact, most consumer debt cases never go to trial. Instead, they are resolved through debt collection lawsuit settlements that allow consumers to pay a fraction of what is owed, or sometimes nothing at all, while stopping wage garnishment […]
FAQ: Debt Collection Lawsuit Settlements in New York: Your Top Questions Answered
Are Debt Relief Companies a Scam?
By: Robert Nahoum Debt relief companies promise to help you get out of debt, but they can also be a scam. Here are some of the reasons why debt relief companies are often a scam: They make false promises. Debt relief companies often promise that they can get you out of debt quickly and easily, but there is no guarantee […]
Why a Debt Settlement Plan Will Not Resolve a New York Debt Collection Lawsuit
By: Robert J. Nahoum If you are facing a debt collection lawsuit in New York, you may be wondering if a debt settlement plan is a viable option. Unfortunately, the answer is no. Debt settlement plans are not effective in resolving debt collection lawsuits in New York. Here are some reasons why: Debt settlement plans generally require you to stop […]
Debt You Thought You Paid Off Through Debt Settlement
By: Robert J. Nahoum THE PROBLEM: I have written before about debt settlement and how it works. To be clear, I am no fan of debt settlement and think that it is generally a bad idea for any consumer. In my opinion, the better mechanism for dealing with debt is usually a chapter 7 bankruptcy. A common problem we see […]
Are Debt Settlement Companies Against The Law In New York?
By: Robert J. Nahoum THE PROBLEM: Being overwhelmed by debt is an all too common occurrence. You lost your job, your hours got cut or maybe you just got behind on bills, whatever led you to this point, your debt has become more than you can handle. These days we are inundated with advertisements for debt settlement – we hear […]