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
Why Debt Collectors Accept Nominal Monthly Settlements
By: Robert J. Nahoum THE PROBLEM: You’ve been sued in a debt collection case; you’ve explained to the debt collection attorney that money is tight and you can’t afford to pay the debt. Nevertheless, the debt collection attorney has offered to settle the debt by you making monthly payments of only $20 each. You’re perplexed –why would the debt collector […]